Elizabeth Taylor: A billion dollar lesson in beauty, brains and branding

With the recent passing of Hollywood legend Elizabeth Taylor, I’ve found myself reflecting on the power of her iconic celebrity brand.

We all know her for her breathtaking beauty, effortless glamour, and passion for romance. But beyond her looks, legendary acting career, and multiple marriages, Taylor was also a bold and brilliant businesswoman with an estimated worth between $600 million and $1 billion – mostly derived from her perfume empire. 

Elizabeth Taylor
According to Bloomberg Business Week s enior editor, Diane Brady, Taylor was “one of the first people out there basically branding her personality.” More than just an actress, Taylor was a trailblazing entrepreneur who understood the power of her celebrity brand and used it to her benefit.  Essentially, she turned her personality into profit.

I know what you’re thinking. "That’s great for Elizabeth Taylor, but what does that have to do with me?"  Well, you may not be a celebrity brand, but you should be the celebrity of your brand. Whether you have an established brand or you’re just getting started, these five B.R.A.N.D. steps will help ensure that your personality plays a starring role in your brand identity.

        1. Be honest about who you are.
Make a list of what makes you, well, you. Draw a line down the center of your paper and list traits, labels, and likes in the left column. Ex: funny, energetic, passionate, mother, speaker, procrastinator, motivator, likes to work with numbers, likes spending time with children, etc.

       2. Rediscover how others see you.
How do others perceive you? How would they describe you? Ask friends, family, co-workers, and associates to give honest, supportive feedback. Write their thoughts about your traits, labels, and likes on the right column.

       3. Assess the intersection of your actual and perceived personality.
Circle the traits that are listed by both you and others. This is the personality sweet spot  – the intersection of your actual and perceived personality.

       4. Note ways to highlight these traits in your business.

        Take a good, hard look at your established or potential brand. Find ways to incorporate your personality sweet spot into every aspect of your business. Be creative! Ex: If you are a salon or spa owner and you like spending time with kids, create a monthly promotion where clients can bring in their kids for a “Mommy & Me” day.

        5. Do it over and over again!
Each time you make a decision for your brand – your logo, your website, special promotions, potential partnerships, etc. – ask yourself if the move is fitting with your personality sweet spot.  The market may shift, your industry may change, your hair may turn grey – but YOU will always be YOU. So make your brand decisions accordingly!

       
Kaira Akita is a style + brand strategist with 10 years of corporate and independent experience working in the "nuts + bolts" of branding, including identity development, strategic messaging, copy writing, packaging, and special events. The owner of the lifestyle hub VIVA AKITA, Kaira's clients have included E! News, TBS and Easter Seals. Her Ms. CEO columns and videos are published weekly.