By Ed Morrow
Comparing Targeting and Branding is like comparing a fine wine with a nice breakfast of scrambled eggs and bacon. They are both items you consume orally. One is expensive and may take 4 years to produce. The other needs to be prepared quickly and served while hot. In other words, there are some common features, but they are quite different.
Target Definition is clarifying who you want to do business with and why?
Target Marketing is how you will approach them, leading to an engagement or purchase.
Firm Branding (including a firm of only one) is how they perceive your organization will help them identify financial concerns and go about a process to improve their position. Will you provide good service?
Personal Branding is how they perceive you – your capacity to be objective, your knowledge and your operational style. Are you well prepared and are you ethical? Can they count on you?
Being comfortable with your own brand and identifying your target market can reduce the possibility of wasting your time courting a less desirable new client.