Thousands of people flock to restaurants that are owned by their favorite celebrity chef, even though the chef himself is not onsite preparing the entrees personally. Each year, department stores launch perfumes in the namesake of a superstar, that realistically has no background in cosmetics, yet sales skyrocket! How does that happen? Just like celebrities possess brand equity, so does your personal brand. Brand equity is created by the awareness and preference of the target markets. As your brand’s value is recognized, it will be associated with a particular word, and that word is the conduit to becoming an “expert” drawing the conclusion that what you say can be trusted. Your brand equity is the power that your name, product, or service creates among consumers and will increase the value of your brand by increased profits.
You can build your brand equity by consistently delivering a quality product or service that is recognized and valued. This is not an overnight process, but does provide longevity for your brand and is driven by your audience.