Your brand equity equation

July 16, 2007 at 12:04 am | In Interview, Networking, Personal Branding, Project Management, Success Methodologies, Success Strategies | 12 Comments

 

As a brand, your brand accounts for more than just your personality and who you are as an individual. I believe it’s the sum of others brands that you either own, work for or touch in some distinct way. Brand equity is the value built-up in a brand. It is measured based on how much an audience member is aware of the brand. In the above picture, you see a man who drives a Mercedes, wears Lacoste and works for General Electric. Each brand has various attributes, values and perception tied to it.

Let’s explore each brand:

  • General Electric is a multinational American technology and services conglomerate incorporated in the State of New York. In terms of market capitalization, G.E. is the world’s second largest company.
  • Lacoste is a French apparel company founded in 1933 that sells high-end clothing, footwear, perfume, leather goods, watches, eyewear, and most famously, tennis shirts. The company can be recognized by its green crocodile logo. Lacoste has the reputation of being culturally preppy, especially in the United States.
  • Mercedes-Benz is the brand name applied to the models of one of the premier automotive manufacturers in the world and, because of its tie to Karl Benz, it is also the name of the world’s oldest continuously produced automobile line.

If you meet someone for the first time and they are driving a Mercedes, your first thoughts may be that they are successful or classy. If a youthful individual drives one, they may be considered spoiled. It also has the perception of “he must think he’s better than me” or that stereotype that Mercedes drives aren’t nice people. If that same person wears Lacoste, you may think they are preppy or trendy. If they work for GE, both their dress and automotive side may make sense to you because GE is one of the largest and most successful companies in the world. To me, these three brands (as an example) make sense with each other and tell a story to the audience. As you can see the total equity of these brands reflects in your Personal Brand. You are what you dress like, drive, work for and behave like.

More about the brands you work for

When you interview for a certain position, if you have previously worked for well-known, top-of-mind brands, such as GE, you will be taken more seriously and the interviewer will associate your name with that of the larger company as being intelligent and successful. The more “big brands” you have on your resume, the stronger your brand will be. For example, if you worked for Nike, GE, Ogilvy and Ford, you would have a leg up on someone that worked for 4 small “no-name” companies. Let this association work in your favor.

Why is this important?

You can explain a good portion of someone’s Personal Brand without even knowing anything about them. What this means is that your appearance element is crucial for first meetings, interviews and daily life routines. Your appearance is a gateway into a conversation or a networking opportunity, which is heightened by your personality, competencies and differentiation. All the brands that surround you play a role in building your brand!

12 Comments »

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  1. Interesting article. I think brand equity is a topic that a lot of people are aware of, but don’t look into. Great post, thanks for sharing!

    Comment by Tanner Christensen — July 16, 2007 #

  2. Hey man, thanks for taking the time to read my article.

    I agree with Tanner on your article. It is interesting. In my opinion, in the advertising field, many of us tend to see the artists and copywriters more informally dressed both in appearance and attitude; whereas, the Account Executives tend to be more conservative. Now this isn’t the rule, but tends to be the norm. Here’s the trick bag: how is it that many of the best creative minds in the world are the most poorly dressed, yet hold such respectable jobs and accolades among those in their field if “you are what you dress.”

    Of course I know this isn’t the standard as well, and your article is accurate. I just don’t think that the way you dress or what you drive (outside of the office) has much to do with your personal brand equity – unless of course, you’re waltzing down Madison Ave. in your underwear! I just don’t see it as being a factor in determining your overall personal brand the way we think about it in terms of career advancement and placement. Thanks for the good read!

    Comment by Josh — July 16, 2007 #

  3. Or -

    Traditional brand equity is disappearing because consumers are no longer defining themselves by tangible goods and the status (or brand) that comes with them. Instead, consumers are defining themselves by the media content they consume.

    Original thought – http://www.johnniemoore.com/blog/archives/001620.php

    Comment by Herb — July 17, 2007 #

  4. Great point – our “memorabilia” showcases the “communities” or “fan clubs” to which we blong.

    I guess this is why I never wear branded clothing ;) except for my PETA shirt.

    ~ Vik Rajan
    PersonalBrandMarketing.com

    Comment by Vikram Rajan — July 17, 2007 #

  5. Thanks so much for the encouraging comment on the resume section of my blog (rsmresume.motime.com) about my branding statement! You made my day! I also added a link to your site on my weblog. Totally Cool Weblog! How did you find my blog anyway? Thanks again. Hope we can chat. I would love to get your insights on how to use a branding statement in applying for a position.

    Best reguards,

    Lonely Pioneer

    Comment by LonelyPioneer — July 17, 2007 #

  6. I think this is all the more true in the social networking era – as people surround themselves with items on their profiles, various friends, comments, etc. You can really build a personal brand just around your online relationships and profiles.

    Comment by Dan — July 17, 2007 #

  7. Hey Dan!
    Once a again a gem article. Guess it’s time to take another serious look at my brand equity. The Bohemian dress style and a conservative personality can’t be doing much for my brand. Thanks!

    Comment by Mugure — July 18, 2007 #

  8. Well written, but I’m a bit conflicted about this article, especially after reading Mugure’s comment. On the one hand, you want to make a good impression on the first meeting with your appearance and work history, so promoting certain aspects of your personality over others makes sense. But on the other hand, what’s wrong with just being yourself? Isn’t this strategy a bit like starting a relationship and trying to be someone you’re not to impress the other person? At the end of the day, that relationship won’t work as they learn who you really are. If you’re striving towards a goal that is different than who you are now, then by all means, change what you’re doing. But isn’t the best branding really just about being you?

    Comment by Rebecca Thorman — July 18, 2007 #

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