Business brands vs. personal brands
Businesses often tout the strength of its team and exult, “Our greatest competitive advantage is our people.” Some experts estimate talent can account for as much as half of a company’s market value.
Yet rarely do you see the people unless you engage with the company.
The equation has flipped thanks to social media. It’s now affordable, practical, and srategic for employees to build a dynamic online presence that connects them with potential customers and existing clients. It’s powerful stuff.
The new equation also raises some interesting marketing challenges that businesses will have to tackle.
- Who controls the content? Right now, marketing departments have complete control of their marketing message. Social media requires giving up some of that control and trusting employees to do the right thing. Social media guidelines are a must for any business.
- What’s the balance of professional insights to personal information? Social media is predicated on personality. Too much business information = pushy sales. Too much personal information = TMI.
- Why invest in employee branding when they could leave? This is a valid concern. Pioneers in the area of employee branding will be able to point to their investment in an employee’s brand as a reason point for staying. Eventually we believe employee branding will be a necessity for attracting and retaining any top talent.
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