Who Am I? Developing Your Firm’s Brand Identity
What makes an individual want to buy a particular product? What makes a firm choose a particular service?
Of course, factors such as quality and pricing matter, but the way clients can tell whether you offer high-quality services and a bang for their buck is through your brand identity.
So, what exactly is brand identity? At its most basic, it is the image your firms portrays and everything that reinforces that image, from your branding (Iogo, color scheme, design concept), to your marketing and public relations strategies, and everything in between.
A good brand identity is extremely important for financial advisors as trust is paramount in a financial advisory relationship. It can reinforce your values and the benefits of your services, leading to a reputation that creates life-long relationships, an increase in client referrals and credibility as a trustworthy firm.
How to Build a Brand Identity
When deciding how to build a brand identity, you need to think about several factors, such as carefully considering the message you want to send, the impression you want to make, and the reputation you want to cultivate. All the design components you choose should best reflect the vision you have for your business.
Here are four ways you can build a strong brand identity as a financial advisor.
1. Create Memorable Design Assets
To build a strong brand identity, your brand name and identity mark (logo) need to reflect your business’s core values, vision, and/or mission. This is because, when clients see them, you need them to know what your business is about and why they should care.
Design assets are more than just your name and logo, though. Take into consideration your color palette, the typography you will use, image style and even the shapes you will incorporate into your website, social media graphics, and business cards. When it comes to telling a visual story, no detail should be overlooked.
2. Create and Communicate a Unique Value Proposition
When you are building your brand identity, you need to be able to differentiate your products or services from the competition. When clients select a firm, part of their process is weighing their options, which means comparing your firm to your competitors. Being able to give them a clear description of what makes the service you provide better than the competition is critical, whether it is the niche you work with, your client process, or your specialized expertise. Being able to clearly articulate why clients should choose you will automatically give you a leg up.
3. Have a Consistent Design
Consistency in the design of your website, advertisements, and social media posts is a must in order to successfully build a brand identity that is recognized across many platforms. Remember, consistency equals comfort. Having a consistent design concept will make it easier for clients to recognize your brand whenever they see it, thus familiarizing them with your business.
4. Create an Identity That Revolves Around Your Target Market
Highlighting your target market and making marketing decisions around it is an excellent way to create a brand identity that truly aligns with your firm and your services. This way, people will think of your firm whenever they think of that target market or niche
For example, if you work closely with widows, maybe you could write a series of blog posts that share resources that recently widowed women might find helpful. If you specialize in serving public safety officers, consider utilizing imagery that features primarily firefighters or police officers. Making it clear that you serve a certain target market can help you attract the types of clients you’re looking for, as they know exactly who to go to.
Your brand identity is your special sauce – it’s what sets you apart, what gets you noticed, and what clients and prospects remember you by. Take the time to ask yourself what you want people to associate with your firm, the reputation you want to maintain, and how you want your brand to be perceived by the public. Once you have diligently answered these questions, it’s time to get to work putting the wheels in motion and designing the brand identity of your dreams!
Not sure where to begin? We get it. Something this important should never be a rush job. For help creating a brand identity for your firm, reach out to the Beyond AUM team.