Personal branding keeps growing in importance, you can barely go online without reading about it. We are now at a stage where most professionals and business owners really need to dedicate time and effort to strengthen their own brands as a part of their daily routine.

With business being ever more competitive, your best way of staying ahead of the pack is to stand out and have a unique brand amongst peers. In the end, it's all about what you are known for. Others should be able to say what your unique promise of value is once they see you or your name.

Here are 5 great reasons for creating and building your personal brand:

1. Grow your network

Expanding your network is hugely important to business success, it opens up avenues you never thought of. When you have a strong brand you will notice that people want to know you and help out any way they can. Your personal brand works like a magnet and it attracts like minded people which can be very useful for your business or career, just like you can be useful to them. Networking is all about karma, help others and they will help you.

2. Attract opportunities

As a result of your expanded network and you having a strong presence online, not only will people help you but some will actually have relevant opportunities for you. This could be a customer referral, a joint venture, co-writing a book, a new job or an investment in your business. Your personal brand demonstrates success and that is what others will be looking to tap in to.

3. Establish credibility

Your personal brand is your unique promise of value and as long as you add this value to others on a consistent basis, you are gaining trust and credibility. This trust will be your best and cheapest promotional activity, as word travels fast when you do great work. Let your customers be your fans and become your brand ambassadors.

4. Increase your online clout

As you build your personal brand, you will notice that you get a loyal following online. This following will put you in a position of influence, as others listen to what you have to say. You can turn your clout into business as long as you do it in an authentic and trustworthy manner.

5. Securing work

A magnetic brand will ensure that you keep busy. You and your services will always be in demand, as long as you live up to your personal brand. This is a good comfort in case your workplace is facing downsizing, or one of your biggest clients are in financial distress. There is little you can do about external factors but you can rest assured that your strong brand will help you attract other opportunities instead.

Bottom line

Your name is your greatest asset and will stay with you for the rest of your life. Transforming it into a personal brand that others will recognize and appreciate is your best strategy for long-term success in business. By standing out from the crowd and showing the world how unique you are, you will be equipped to tell your customers why they should choose you instead of the competition. Remember, the stronger your personal brand, the more likely you will be to have a great demand for your services and you will be in a position to charge a premium for it.

Related: How to Build Your Personal Brand in 10 Simple Steps