What do people really buy? Your personality or your product?
If you choose personality, then does it mean you have to first become a better leader and a good communicator? Or do you have to create a powerful product?
Well, over the years I could tell you that if you study my work then you know I am very big on personal branding and building a business around your personal brand. That’s not the only way to build a business but it’s my way of building a business.
Of course I’ve got other companies and in those cases it’s all about the company and the product. But I found that when I shift to the personal brand focus on the Dan Lok brand, not only do I experience more success, but more doors open up.
People buy your personality more than your product, and here are several reasons why.
Watch this video about what people buy, personality or product.
Putting Your Name On What You Sell
Just looking at the results, as I focus more on my personal brand, big business becomes more successful and my wealth increases faster. Here’s what I notice: people buy people at the end of the day. People like to do business with people that they like, trust and admire.
It depends on what you’re selling. Commodities are a different thing, but if you are selling a product or service, people buy people. Even though people are buying Apple products, when Steve Jobs was alive they were buying a piece of Steve Jobs’ genius, creativity and vision.
The people who do business with you need to trust you. It’s easier to trust and like you when you have a face versus a faceless corporation. When you’re just a product there’s no emotion involved.
But if you do have a face to the company, and you’re the spokesperson for your brand, it takes a lot of guts, if you think about it. If I put my name on everything that’s built around my personal brand but the product fails, it’s my name on the line!
You must be pretty confident to put your name on your products. When you search Dan Lok’s company on Google or on social media, you can find me. On some subconscious level, this gives people some comfort, knowing that I’m putting my name on the line. It’s not like a company that will change its name when it goes out of business.
What Really Sells Your Product: You Or Something Else?
Second, when it comes to selling and marketing, it’s never about the thing. It’s the thing that sells the thing. People see so many entrepreneurs struggle and put in so much time to create what they believe is the perfect product.
But it’s not about what they think, it’s about what the marketplace wants. They have too much personal attachment after spending a long time creating the perfect product, but they don’t spend time thinking about how to sell the product.
Do people even want to buy this new innovation? How can they verify if that’s what their marketplace wants? That’s what I mean when I say it’s the thing that sells the thing. It’s the marketing and sales that sells the new product.
It doesn’t matter how talented you are or how great your product is if nobody knows about it. Nobody can benefit from it because you were so focused on making that product or service perfect before getting it out there.
The Marketing Genius
The customer is the marketing genius. They will tell you if they like your product or not, and they you will tell you if your price point is good or not. Your customer is the expert in all the details – right down to what kind of color they want.
Your branding is based on your personality, so for your personal brand, lead with your personality. Your product may change or die but if your personal brand is strong, you can sustain it for a long time.
Look at Michael Jordan’s Air Jordan. Michael doesn’t even play basketball anymore. He’s retired, but those shoes are still selling, making millions of dollars. That’s the power of personal branding.
Imagine if Nike just build their brand on one product, not a person. If you study Nike’s history, Nike would not be where they are today without Michael Jordan. Their success is all built around a personality.
Being a personal brand isn’t for everyone. You may be afraid that you aren’t capable or ready to be a personal brand. But if you think this is what you want to do and you think you could do it, then I would say definitely do it.
What Customers Really Buy
I know people buy me because of me. Very often I do business with people and we talk about what we do and I joke about the moment that we sign. They don’t even know my company name.
It doesn’t matter what my company name is. They are doing business with Dan Lok and that’s what they’re buying. On the agreement it may have just the company name but at the end of the day, they’re buying me. That’s the most important thing.
The product might change but the comfort of knowing that they’re doing business with me is what makes them move forward. The name is what they are buying at the end of the day.
Look at Steve Jobs over the years. There have been different inventions of Apple products when he was alive but it was Steve Jobs that customers were buying.
They believed in his vision and they believed he’s a genius. When the iPhone first came out, people were fascinated at the invention that could play music, provide internet, and make phone calls. It was phenomenal.
It revolutionized the entire cellphone industry and changed the way we live. The iPhone disrupted an entire industry for an entire generation. And it was one man’s vision, one man’s idea. That’s the power of building a personal brand.
Final Thoughts on Personality Versus Product
Your personal brand, your personality, creates trust with your customers. People buy Nike because of Michael Jordon, and they buy iPhone because of the vision that Steve Jobs had for his company.
They aren’t buying a product from a faceless company that could go out of business overnight. Of course, there is more risk involved when you put your name on your product. But you also increase customer loyalty.
Let your customers be your marketing experts. They will tell you what they want but your brand is why they will stay with you.