Branding: Not what you think it is

What is branding? It’s not so much about what it is but what it isn’t, members of an industry association were told at a recent event.

People think a brand is a logo, a website or what’s posted on social media. But “branding is your reputation. It’s a sentiment that people have when they see your name,” said Maritza Lizama, cofounder and chief marketing officer at Captiva Branding. “Branding is not the product or service you are selling. It’s a lot more than that.”

Lizama and Brian Haney, founder and CEO of The Haney Co., spoke about “Branding for Success” during the National Association of Insurance and Financial Advisors Apex East event.

Branding isn’t about leads either, Haney said.

Building a brand builds leads

“Branding isn’t about lead funnels,” he said. “It’s not about lead generation. If you build the right brand, you won’t have to worry about leads.”

A solid online presence is crucial to branding, Lizama said.

“Ninety-three percent of buying decisions are influenced by what people see online,” she said. “How can you improve your online presence? Start with your LinkedIn profile. Get rid of your old profile photo. Your photo needs to look like you. And it’s OK to show a little personality on your LinkedIn profile.”

Advisors also must identify what Lizama called their “brand purpose.”

“Why are you in this industry beyond making money? The answer to that is your brand purpose,” she said.

Knowing your audience is the first step toward building your brand, Lizama said. “You must know where they live, their age, gender, job title, pain points, motivators, barriers and their favored channels,” she said. before you build your brand, know your audience

Haney said that advisors should think of their brand as a person when determining their brand’s message.

'An element of personality'

“If your brand were a person, what would it sound like?” he asked. “A brand has an element of personality.”

Haney said advisors frequently believe that other advisors are their competition, but he contended that the digital world presents a different kind of competition.

“In the digital marketplace, the question every consumer asks is, ‘Why do I need to work with you at all?’” he said. “There’s a DIY solution that doesn’t involve talking to a person at all. People are getting their information from amateurs – their friends.”

Producing online content is one way advisors can boost their brand, Haney said.

“If you don’t, other people probably will do it. And you don’t know whether their content is relevant or not,” he said. “The competition is fierce but it’s not in this room. You must have a brand that’s on the front line, and engaging with prospects and clients is crucial.”

One way to build a brand through online content is to make that content personal, Haney said. In addition, content should be of interest to your target audience.

“If you wouldn’t read it, don’t put it out there,” he said.

Nonfinancial topics are compliance-friendly, Haney said, and can engage an audience’s interest.

“Think about posting things such as the top 10 places to visit before you die, or some other topic that can spark a discussion,” he said.

 

Susan Rupe is managing editor for InsuranceNewsNet. She formerly served as communications director for an insurance agents' association and was an award-winning newspaper reporter and editor. Contact her at Susan.Rupe@innfeedback.com. Follow her on Twitter @INNsusan.

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