The Supply & Demand of Personal Branding
n economics, the price of something goes up when its supply is low, but demand is high. It works the same way in Personal Branding. In this case, the supply is already low because there is only one of You in this world. But, people still do not know that this particular “supply” exists yet. However, since we’re still at the starting line, the demand won’t be a great deal.
In order for you to be able to command a highly paid product or service, you need to give people a reason to associate your brand to a value of that extent. This means that you have to include exclusivity and scarcity. In spite of that, it doesn’t mean that you go into hiding and make yourself hard to reach. The most important thing you have to be capable of providing is Value. How much value can you provide? What kind of value are people expected to perceive when engaging with you, your products and services?
Why are some people willing to pay so much?
Why do people pay so much to see those with million-dollar businesses? It is because they know for certain that when they attend, they are sure to get some sort of value out of it.
Build your content
Taking the first step would be to build up your content arsenal. You want to make sure that when people click on any of your social media sites, they are greeted with a Massive amount of content of you providing Massive Value. It could be in the video, picture or written form, either way, it should be educational and informative so that it provides value. When you put out useful content continuously regularly, people will be able to recognise you as the authority who is good at what you do. Be that as it may, you would want to have proof of your excellency, so you would need to provide people with testimonials. It is one thing to show and share your skills and knowledge, it is another to show that it actually works.
Value your brand appropriately
Next, you want to start to limit physical reachability. This is not so that you can groom your ego to become arrogant and proud. But you don’t want to just meet anyone anytime, anywhere and choose your meetings wisely. Consequently, you would have to make sure that your presence is of value. Prove to people that when you show up, you are there to provide and they will receive the value that is worthwhile.
Finally, you have to be careful in choosing your client base. Think thoroughly on what kind of people you want to work with. Once you’re certain of that, all you have to do is show up and provide them with what they need. When people are able to perceive that the kind of value they are receiving outweighs what they pay for, they will definitely be willing to pay more.
Give them what you’ve promised
You just have to play your part to make sure that your customers get what they expect. Of course, if you are at that stage to be able to do business like that, that means that there is already much traction going on for your brand. But, if you are someone who is just starting out, don’t fret. They cannot be replaced and are the determinants of how much you are worth in the future.
Don’t use your personal number
Finally, this is something that you should consider: Getting another number. Why you ask? Because it could be a huge lifesaver in the future, I’ve done it myself. One of the main reasons is, you don’t want your personal number to be out there in the open. When you’ve managed to rise in reputation and are in high demand, you will be getting huge amounts of people trying to get in contact with you, and you don’t want to be bombarded by calls and messages all day long. Nonetheless, the catch of this whole thing is that the more you make yourself available and easily reachable, the lesser people will perceive your value.