Building a Personal Brand in Platform Era

This week marks two years since we had the first Covid19 related lockdown. During this difficult time, we saw our humble Local Kirana Wala setting up a virtual store as well as growing digitisation of our lives whether work, education or leisure. That also means that the traditional boundaries between personal and professional which were already under pressure may be stressed further.Even when we are beginning to see beyond Covid19, still the road ahead is little hazy and for some may be even broken.?Leveraging on the platforms to reset our goals and priorities could be way forward. We could start by developing a new playbook or even a personal working guide and if you already have one, it is time to update it to the new scenario. Whether you are an?employee?or an?entrepreneur?, you used an updated version of your playbook for dealing with pandemic induced virtual life. It is highly likely that this updated Covid-19 playbook would become your default playbook for near future or perhaps even longer. Platforms can help you to manage your career trajectory by helping you discover, engage, improve and even move on!

Internet has been a powerful tool for building brands. It has provided an effective and efficient medium for connecting and engaging with your customers/followers. But it has not been same always and we are moving towards a more sophisticated approach for leveraging Web 3.0 to build personal brand. #YouVersionTwoPointO

Let us see how we have evolved from Web 1.0 which was mostly about static webpages , one way reach and no interaction , then Web 2.0 dominated by social media companies which gave extraordinary reach through network effects and FOMO as well as deep engagement/monetisation but loss of control over your own story! These relationship which are currently intermediated by generic algorithmic platforms like Facebook ,Instagram, Spotify or LinkedIn are now being fostered through content creator specific platforms like?Patreon?and even?LinkedIn?where this newsletter is published.?So even when technology platforms may have commoditised the creators and influencers to some extent but there are green shoots in tech-enabled creative space. Passion Economy works on the strong bond between influencers/creators and their patrons. After all, who would want to subject their relationship to the whims of an algorithm !

Web 3.0 aims to solve this loss of control through digital ownership of your content and relationships through decentralised and direct platforms. The rise of creator economy in Web 3.0 may have three main dimensions-?leveraging on fan following for distribution, content curation by crowd sourcing and re-intermediation.?For example, in sports we have seen that the sportsperson and their fans are getting connected through new intermediaries thereby creating re-intermediation. Instead of spending money on traditional distribution and financing channels, creator-led direct-to-consumer brands are spending tremendous resources on social media and advertising platform companies like Facebook and Google.

Another emerging trend is highlighted by companies like Pac-12 which has announced a new licensing partnership in USA with blockchain technology company Recur, and artificial intelligence (AI) specialist Veritone. This partnership would produce the National Collegiate Athletic Association’s (NCAA) first ever Non-fungible Tokens (NFTs). This open ups new revenue stream for college athletes who are not allowed to get into professional/monetary contracts during their college days. They can use their Name, Image and Likeness to make money for themselves and thus share in the revenue that universities have been earning for many years.

Web 3.0 can help you enhance your personal brand by creating a community that can propel you. It is no more airbrushed glossy lives of celebrities in printed magazines or carefully crafted interviews in cable channels. Instead , it is the live Insta or Snap feed for the dedicated loyal fan base- unfiltered, raw and personal. We the inherently democratic tools given by Web2.0 and related technologies, there is a revolution of self publishing and self expression.

So, go ahead Co-Create, Crowd Source and Lift Each Others!

PS- The cover picture is of PCR 10K Gang- Old and New Runners! All of us are proud of our new and old runner friends from?Peerencheruvu Runners?scaling new distances and gaining in confidence.?