Brand is an important subject which creates positive image in the eyes of customers to make itself different from the competitors, hence, branding is non-negotiable.
According to Forbes, the term branding has long been relegated to companies, but today almost every individual has a personal brand. Not many of us have consciously cultivated these brands, but they exist nonetheless.
Regardless of age, position and qualification, we all need to understand the importance of branding. We are the CEO of a company called you Inc. and our personal brand will determine how far we can go career-wise.
There is now a widespread acceptance that personal brand play an important role in generating and sustaining an individual’s financial performance. With high levels of competition and excess capacity in virtually every industry, strong personal brands help people differentiate themselves in the market and communicate why their products and services are uniquely able to satisfy customer needs.
Evaluation is something most people intuitively do on a daily basis. It is easier to take the opinion that ‘seeing is believing’ when valuing something, but when it comes down to brand evaluation, it is what the physical eyes can’t see that is truly valuable.
Consistent brand evaluation is crucial for improving brand trust and brand loyalty. The benefits of improved brand loyalty might come from retaining existing customers as well as attracting new ones. These benefits would in turn result in increased sales and profitability for the person.
#1 Effective brand evaluation help shape customers’ perceptions and, therefore, purchase behaviour, making products and services less substitutable, allowing the person to enjoy higher returns.
#2 Brand evaluation aids us in making viable decisions and formulation of policies for human capacity development.
#3 Brand evaluation makes financial investment and customer satisfaction measurement quite easier.
#4 Brand evaluation process gives a long-term focus that helps people with planning and budgeting decisions.
#5 Brand evaluation provides a common means for choosing alternatives and setting priorities in business.
#6 Brand evaluation shows an emotional and physiological relationship a person has with customers.
#7 Brand evaluation helps people to measure and track their value relative to competitors and the category average.
#8 Brand evaluation can lead to identifying weaknesses and strengths; ways of restructuring personal strategies and plans implementation efficiency through after-before evaluations.
#9 Brand evaluation aids financial planning and decision making. Stakeholders and financial partners perceive personal brand value as a reference when establishing the extent to which they are willing to take risks and finance any given project or business.
#10 Brand evaluation gives a good edge in increasingly competitive markets.
#11 Brand evaluation is a necessary factor for improving customer satisfaction. Apart from improving customer, it also results in higher profit gain.
#12 Brand evaluation can exert important effects on personal accomplishments.