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Practice Management > Building Your Business

Be unforgettable: Brand building basics for advisors

By Mike Byrnes

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Building an honest, unforgettable brand helps you win new clients as well as develop a favorable public image that will last a lifetime. Here are 10 tips to remember when help developing and improving your brand.

Be honest. Build a brand that is true. In today’s Internet age, brand imposters are quickly discovered, and news travels fast online.

Invest in it. A brand can help you win new business and lower costs of acquiring new clients, so make sure to dedicate resources to build and then strengthen it.

Cherish it. Treat your brand as one of your most prized assets.

Preserve it. You need to safeguard your brand image in all your interactions and those of your employees. There’s truth to the adage negative news spreads 10 times as fast as good news. In a word-of-mouth and referrals business, your brand is crucial to your success.

Protect it. In some cases it makes sense to get legal help to defend your brand through copyrights, trademarks and service marks.

Be consistent. All communications should consistently reflect your brand, from the top of an organization to the bottom, across all your points of contact.

Be different, in a good way. Have at least one of your brand pillars (i.e. the foundation for your brand) help you stand out from the competition. Just like a fingerprint, all organizations are different in some way. Determine what makes your firm better and capitalize on it.

Make it the backbone. A brand should be closely aligned with the mission statement and intertwined with the core values.

Be unforgettable. Make a positive great first impression that will last for a lifetime.

Live it. All associates, from the top of the totem pole to the bottom, need to practice the brand principles throughout each day.

Mike Byrnes founded Byrnes Consulting to provide consulting services to help advisors. His focuses on business planning, marketing strategy, business development, client service and management effectiveness, along with several other areas. Read more at www.byrnesconsulting.com.

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