Myth 1: Personal Branding is just another name for marketing
The first and the most basic difference between marketing and branding is that marketing is just a part of branding, a small one at that. Where marketing is sales driven personal branding, on the other hand, is value driven. Which is why a customer who otherwise is not keen on splurging would be willing to pay that much extra for a pair of jeans that is branded. Because he may use the brand, likes the brand and thus trusts the brand. Marketing has its limitations. So while aggressive marketing will probably get the customer to buy that product of yours, there is little guarantee that the customer will come back and buy your product again. To illustrate better using an example, marketing will help sell a Sedan to the customer, branding will ensure that the customer will buy only a Ford all his life. Thus helping build loyalty. To market an established brand is that much easier. And no, you don’t need to be a marketing guru to know that.
Myth 2: Personal Branding is nothing more than self-promotion
Yes, when it first began personal branding might have indeed been used by many for just self-promotion. Not anymore, though. Personal branding is something that has been very popular in the west and thanks to the increased prominence of the internet, it has now spread far and wide. Actors, politicians, sportsmen and other public figures are constantly in the public eye and their popularity itself depends on a lot on their image. Which are they hire brand consultants and managers to carefully cultivate and maintain that image. And likewise, entrepreneurs and business owners need to reach out to people in order to sell their wares. And personal branding can help them stand out and get noticed in the face of stiff competition. Personal branding is of great utility value not only for those providing jobs but also for those seeking them. With thousands of people vying for jobs, your resume has to create just the right impression. That is where personal branding saves the day.
Myth 3: Personal Branding can make one famous overnight
Sure a controversy or a marketing blitz can get you your two minutes of fame unlike with personal branding. But that is about it. Beyond that, to endure and remain famous is not as easy. Which is where personal branding comes in. So if you are a business concern, you will need to first do your due diligence. Like who is your target audience, who are your competitors, what is your unique selling point so on and so forth. Also equally crucial is to have a vision or a goal of where you want to be in and what you would like to achieve in, let us say thirty years. Only after all the necessary groundwork has been done can you begin with the personal branding. Remember that personal branding is also a way of setting expectations, of letting a customer know what all you can do for him. Be sure to set the right expectations.