Brands are about reputation value, and the best brands have stratospheric value. For example, last year’s number No. 1 brand was Apple. According to the Interbrand annual study of top brands, Apple’s brand value has grown to almost $200 billion (and now, as a trillion-dollar company, it’s likely increased). Just five years ago, Apple’s brand value was worth half as much.
Can freelancers build a valuable brand? Maybe not Apple sized, but absolutely yes. As marketing guru Seth Godin put it, “A brand’s value is the sum total of how much extra people will pay, or how often they choose, the expectations, memories, stories and relationships of one brand over the alternatives.” A top freelancer who consistently gets the job done and has an agreeable way of working will increase their value to clients. It’s the promise of a double bottom line: a strong performance outcome and a quality experience.
What’s your brand worth now? As an agile talent or freelancer, test yourself with these questions:
- Do you get the type of assignments you deserve?
- Are you largely doing the work you want to be doing?
- Are you paid fairly for your work and recognized expertise?
If you aren’t satisfied with the answers to these questions, it’s the right time for a brand checkup. Here are four steps to create a compelling brand that will keeps growing in value:
1. Describe how you want to be known by your best clients. Jez Frampton, the CEO of Interbrand, reminds us: “Brands are a business strategy brought to life, and are the primary means for differentiation and growth.” So, what’s your strategy, your brand promise, the consistent experience that you will provide your clients? Here’s a simple way to begin the process. Using the brand promise wheel below, here’s how Anna, a top software developer described her brand promise:
When I asked Anna to talk about her brand promise she focused on reliability as the key quality that, in her view, set her apart: “Different colleagues focus on cost or innovation. That’s not me. My sweet spot is reliability. I don’t work at the cutting edge. I’m not the fastest or least expensive. But clients know they can rely on me to build high quality applications on time and budget.”
2. Hack your brand. Can you see through your clients’ eyes? That’s step two. Social psychology teaches that we see our behavior through the lens of our intentions (“I was trying ...”), while others see our intentions through the lens of their experience. Even the most respected brands have daylight between their brand promise and delivery. It’s a never-ending challenge to stay on top of clients’ increasing expectations, as new entrants and disrupters continue to raise the level of competition. My fellow Forbes contributor Rachel Baldelomar, writing about the W Hotels brand, reminded her readers: “Building a brand that is reflected across the organization in creative ways is not easy. Executives have to identify the core principles they want shown in their brand and embed those ideals into every part of the organization.” That same logic works for freelancers.
Using the brand gap matrix shown above, Anna decided to hack her brand. She interviewed both trusted colleagues with whom she had worked, and clients she knew would give her honest feedback. Anna’s interviews reinforced her reputation as a strong performer, but identified a need to improve client communication. First, more regularly contact former clients and bring them up to date on new work. In fact, one client later mentioned: “Anna, I wanted you to work with us more regularly, but assumed you were too busy.” Second, begin providing clients with simple, one page, weekly, progress overviews. In short order, clients began mentioning the helpfulness of her weekly review.
3. Find “spotters” to help you close the gap, and insist they keep you honest. A spotter in gymnastics helps the athlete stay safe and maintain the right form. Freelancers like Anna need spotters too, trusted coaches to whom you turn for advice and honest feedback, and who will tell you the difficult things others might not say. These are individuals whom you respect, who have relevant knowledge and experience, and who can provide helpful advice and reflection when you need it. They help keep you on the track.
4. Remember the double bottom line: performance + experience. Memorial Sloan Kettering is a unique hospital in NYC where I live. As a patient, I was impressed by the helpfulness and humanity of the staff. I understand the leadership and staff of this top hospital decided that successful surgical treatment wasn’t enough: the hospital experience ought to reduce, not add, to a patient or family's stress. In our speak, the double bottom line. So, staff teams regularly comb through their touch points with patients and families and ask: “how do we do this better?” It has led to staff training, a different approach to communicating with patients and families, even the way bills are sent for payment.
Just like hospitals, every freelancer has a double bottom line. Real success in brand building is the consistent delivery of both the performance expected and a positive experience working with the freelancer. If you haven’t done a brand review recently, now may be the right time. The market may be tight now, but it won’t be tight forever. The best time to fix the roof is when the sun is shining.
