Personal Brand Equity for Rent

Chris Brogan, one of my favorite conversationalists in social media, and a genuine, tech-savvy professional, recently talked about a topic that has been on my mind - personal brand equity. It was a conversation with Kat French that made me think of this concept of personal brand equity for rent. Why for rent? Because it's not for sale. Sorry, it used to be that way, not anymore.

New generation, new habits

All the articles and posts you read about talent being in demand are quite true. Many got the numbers wrong. I was reading a paper on Millennials by Porter Novelli (this is my company's PR agency), which looks at the generation of workers born in the 1980s.

They are 75 million strong in the U.S. alone, and they’re already having a profound effect on business culture. They value work-life balance, use digital devices natively (and intensively) and have little interest in privacy. Their numbers suggest there will be enough of them to replace Baby Boomers as they retire (or semi-retire).

What the report does not say explicitly, if I recall correctly, is that with their favorite brands of choice, they also come with personal brands. These are individuals used to communicating across platforms, multitasking vigorously, and thinking about what you're going to do for hem. 

The here and now

With many companies shifting into social media gear, there will be more of this kind of person on board - people and brand-savvy, tech-smart, and fiercely independent. These are the individuals who make up their on learning programs - they attend SXSW, become a member of the Social Media Club and the Blog Council, even program their own Facebook app and create/participate in a community on Ning or a Wiki about their personal passion. Chances are they are closely related to what they work on - work is personal.

As organizations continue to scramble to keep what happens inside, inside, these individuals are making all sorts of things happen outside. The outcome or side effect of their ideas, creativity and energy builds up their social capital and reinforces their personal brand.

A Catch-22

It's a catch-22. Organizations want and need these individuals to borrow from their brand equity, yet they may find it difficult to understand that once inside, these are not just "employees," they are talent, just like in a sports franchise. You capitalize on that kind of talent. You let it loose so that it can do what it does best. Most importantly, you listen to what they have to share and teach the rest of the team.

Are companies ready for this scenario? I'm talking about this happening at every level of the organization, horizontally, not in the supposedly rarefied air of the top echelons. It's not about titles, it's about skill, ability to make connections, and being deep domain fanatics. Have you ever met someone who *is* what they do? It's very different from just doing it as a day job.

Employee, partner, representative

For rent, for a while, for a need. Chris gives us the example of Charlene Li leaving Forrester. I'm thinking that somehow the company is losing a big part of our attention for it. I have not had the honor of meeting Charlene personally, but look at the comments to that post. She's made a mark in our hearts and has left an impression in our minds. Her personal brand equity at Forrester was very strong.

We've been talking about Brand You for more than 10 years. We've heard about the Free Agent concept 7 years ago. We've gone through the many years of downsizing, rightsizing, consolidating, and selling businesses. Is it any wonder that individuals got the message and took their own brand personally? Career is a much broader concept than job.

Have ideas, will share

It used to be that you could have the tools and resources to do great work only inside companies. Today, that is not true anymore. Technology is less expensive and more accessible. I'm thinking that research can be done through networks, social circles, and perhaps with the help of new media in the near future.

When you're passionate about creating, meaning depends on it, and so does your ability to grow and learn. Just to give you an example, I know a young girl who practiced learning to play the guitar for one year, every day, before going to her parents to ask for paid lessons. Do-it-yourself led to a band, that lead to Europe MTV. Determination and commitment are very much part of this desire to forge something from nothing.

If organizations are not ready to listen and enable, there are plenty of outlets outside their walls. In communities, networks and open source projects.

What say you?

My final thought to you is this - will companies that do not have strong brand equities become commodities, undesirable to work for/with/at? What's your take? Do you have a strong personal brand? Is your personal brand equity for rent? Would a strong personal brand be a problem inside an organization that looks at employees as cogs in the wheel and not talent? Well, this may be kind of obvious.

And here's an interesting thought - would companies start selling to you directly? Not your company, not your title, you as a brand. In recent weeks, I had not one, but two vendors who pitched me at work with some mentions of my blog in their pitch. A weak attempt, admittedly (participation and relationship *before* sale would have worked better to pique my interest), but one nonetheless.

Comments

[Armando Alves]

Great post Valeria.

I remember when i first read Tom Peter's article, and it's interesting to see that it was a bit ahead of its time, since the digital natives were yet to arise as workforce.

No, more than ever, "A Brand Named You" makes all the sense. Through the power of networking, we are more than workers, and became active builders of brands - of the companies we work in, but most importantly, of ourselves.

The downside is digital reputation management, being able to balance personal breadcrumbs with business footprints.

From Gary Vaynerchuck to Hugh McLeod, from Linkedin to Facebook profiles, were'e entering the iBrand age.

[KatFrench]

Great stuff, Valeria, and thanks for the link and mention.

"work is personal" - that short phrase really encapsulates a lot of big ideas for me. Also really loved the parallel with sports franchise talent.

There was an Ad Age article last year about small agencies taking pride in being an "incubator for talent" and I think there is a lot of truth to that.

If part of an organization's brand is that they're a fantastic place to grow, then they'll get the best raw talent in the first place.

[Alanna]

I think there is an interesting precedent for this phenomenon in academia, where professors have reputations and brands unrelated to the school where they work. The professors' brand equity and that of the school combine to attract students.

[Mads Kristensen]

Interesting stuff. Let me share a nice little story from real life:

The other day I was forwarded a job ad from a contact alerting me to a job that might interest me. It sort of did but being a free soul by nature, I frowned at the concept of corporate life. So I decided to send the hiring manager an email along these lines:

I'm interested but only on a freelance basis, because being free matters to me. It won't cost you more than it would, if I was a permanent member of your staff, and I would bring all my experience (I'm one of the most experienced within my field in DK) to bear for the good of the company.

The company declined. If I wasn't willing to take up a permanent position, they couldn't work with me. Period.

I wished them good luck in finding a great person for the role (they'll need it) and am now thinking that it's them - not me - who have a problem.

[Valeria Maltoni]

@Armando - the concept of the iBrand is a serious consideration. It is sometimes after you've been burned that you learn that digital impressions are long-lasting. We might think of it as building bridges, not ever burning them down.

@Kat - the report on Millennials supports what you share here. Places and managers that are associated with opportunity, possibility and growth will thrive. Anyone who has ever worked in one of the other places has experienced it first hand.

@Alanna - Yes, professors do follow that model - however, they are generally tenured, and considered at high level in the institution. Having a touch of popularism in me, I was thinking about a broader scenario. I would be curious to see if associates and even event staff at prestigious schools get that level of attention.

@Mads - what a good story! I admire your integrity and your knowing where you stand. Recognizing your self-worth and being aware of the situations that will allow you to use your strengths means paving the way to success.

[the girl Riot]

i couldn't agree more. as in, i really couldn't.

i am currently 22. i have been consciously crafting my brand since i first decided to shift my focus in college to advertising. even when i get up in the morning, i ask if what i'm wearing is in line with my brand image.

when i introduce myself, i'm the girl Riot, or just Riot for short. people look at me halfway and want a real name, even if they're ad folks. i say it's time to get used to having a brand in their phone contact list. ;)

they want to know why i'm being anonymous. i'm saying i'm not. you get more information on me Googling my brand than my real name. how's that for trippy?

love the post. linking it up.

[Marta Kagan]

Hi Valeria,
Great post - timely & relevant on this eve of the 'social media revolution'.

My personal experience with this phenomenon: Last week I posted a presentation called What the F**K is Social Media? on Slideshare.net, which quickly made the rounds through the various '-spheres' (Twittersphere, Blogosphere, etc.). I produced this deck as a 'personal brand' piece and made no reference to the company I work for. Ironically, my LinkedIn profile turned out to be the 3rd most active referrer of traffic to our corporate website this week, behind "Bookmarks" and Google — and ahead of our major media partner, which not only boasts monthly traffic in the millions, but also did a half-page print ad and a 5-minute morning news show plug this very same week.

If that doesn't make the case for embracing and perhaps even encouraging personal branding, I don't know what is.

Powerful stuff.

[Valeria Maltoni]

@the girl Riot - many of us have grown up educated by marketers and career counselors on the value and power of branding. It's a good idea to know what you're about and building that equity. The description you have on your blog seems perfect for your brand.

@Marta - what's interesting is that I came across the visuals of your presentation on a Norwegian blog a few days ago. Small world! LinkedIn is becoming more integral to how professionals find each other - even those who are on other social networks. I like the Q&A functionality, too. This is a great example of how your personal brand is benefiting the business.

[Matt Dickman]

Valeria -- This is a great post as evidenced by the quality of the comments. I feel very passionately about this and think that it is dead on. Smart individuals are creating personal brands that companies are looking to hire.

Smart companies are hiring these people, enabling them to strengthen their brands and allowing them to spread this model to other employees.

Gone are the days where the company brand rules. It's all about the people that make it up and those people have a strong voice. Look at the individuals who work for Dell's outreach program. If one of them left the company, they could go nearly anywhere. Dell would be hurt temporarily until another person could fill the void.

Companies have a great opportunity to change their brand perceptions by hiring the right people. Hiring self-branded thought leaders. I see companies scrambling to hire these people as quick as they can.

[Adam Kmiec]

Personal brands are great, but when they become nothing more than megaphones for people's egos we have a problem. All you need do is look at the Twitter Stream to see what I mean. So called thought leaders simply use it as a means to self promote the crap they write, say, do, etc.

As someone once said, "never toot your own horn, let someone else do it for you."

[Valeria Maltoni]

Matt:

I'll say it for you, as you have a lot of the elements of what I am going to add in your comment. Those companies that help grow and enable individuals with strong brands, gain loyalty behind reason.

As we've discussed here last week, a brand reputation is formed in the marketplace. It's the experiences of that brand that build equity.

The only companies that will miss out will be those that either have managers who feel threatened by talent, or frustrate that talent once on board by requiring the proverbial jumping through hoops to get anything done.

[Valeria Maltoni]

Hello Adam:

While I empathize with some of your sentiments, I think the conversation still warrants civility and respect.

We are all gifted with discernment and the ability to make choices. Whenever you choose bad language like you did here or in general to be negative and destructive instead of constructive, those actions speak loudly about you. Your brand is also the reputation you make for yourself.

The only things that are within your control are your decisions and actions. Make them inspiring and you'll never have to worry about what anyone else does.

My welcoming email to you bounced back.

[Gavin Heaton]

Todd Defren has a great post that talks about what you do with millenials in the workplace ... with pointers for both sides. I keep meaning to write about it myself, but it seems you two have it covered ;)
http://www.pr-squared.com/2008/07/do_you_have_some_personal_bran.html

[Valeria Maltoni]

Thank you, Gavin. It looks like Todd hit another bullseye with the post ;-) I agree with many of his points, some of which are incorporated in my thinking. The one caveat is that sometimes a company's brand may be guarded very tightly - no logos floating around, etc. My philosophy is one of trust and reciprocation, but not all are in accord with it.

[Peter]

Dear Valeria,

Reading the posts, links and comments that flow from this concept it may be time to start talking about the risk of brand bubble.

There seems to me a resemblance between the market for recognition and financial markets and hope that simmilar dynamics are not in play.

Peter