For decades, there has been confusion regarding what constitutes marketing and what constitutes branding. People and business executives alike are mislead, lead and mislead again. If you’re a business owner, it’s important to understand the key differences. Some points will overlap, but most characteristics are strict to one side. In this eBook, we’ll break down these two fields and what the commons misunderstandings are.
What is Marketing?
Marketing is “the active promotion of a brand or product” as its pushed out to a certain targeted audience. Consistent marketing creates awareness around a product or service and its company. The goal is to let customers know your business exists and they should work with you over the competition. In order to get sales, the messages you push out matter. Because we live in an increasingly digital world, push marketing pulls customers in through a variety of ways: TV, print, radio, social media campaigns, online traffic, PPC or pay- per-click campaigns and so on. The measurable data from marketing comes from comments, engagements, impressions, likes, emails and calls.
What Is Branding?
Branding is the essence of the company, service, or product. It is know as the pull strategy. Your brand is you “voice”, what your company promise is, and mission of the company. What are you communicating to your consumers when they think about your brand, see your brand, and hear your brand? Does your brand set up different values than your competitor? Branding can be measured through sentiment. Have people heard about your business? What do they say about your business when you are not around?
Marketing vs. Branding
Did you know that branding wins over marketing? Really why is that? Branding is what brings in customers loyalty. Branding is what will turn customers into a long relationship. What makes you want to buy certain brands has to do with branding. Branding is not like marketing where is says buy me. Branding says this is what I am and why I exist. If you like me you can purchase me, support me and then recommend me to others. Do you ever notice that when people buy a new car they usually stick with the same brand? They have had a good experience and our loyal to the brand. Think of a restaurant that you go to for years. What do you like about it that makes you keep coming back? There are so many pizza businesses for example and yet you keep going back to the same one. Competition can be fierce and it is your branding that will set you apart from other businesses. Branding will keep your customers coming back for more.
What They Both Have In Common
Both marketing and branding don’t have an end date. Just like laundry it is never ending. They both are needed to have a successful business. What are the misunderstandings of marketing and branding?
Misunderstanding #1 – You Define Your Brand
Even though you set up your company and your brand, your customers are the one that define your brand. Your customer’s perception of your business is what will be passed off to other people. Therefore your customers own your brand.
Misunderstanding #2 – Branding Is A Simple Formula
There is no simple formula to branding. Every business is unique and not cookie-cuttered. Even if they are in the same field and both Dermatologists for example they are going to have different needs, values, and identities. Branding will always be a customized experience.
Misunderstanding #3 – Marketing Comes First
Branding comes before marketing, as it is the core of your marketing strategy. If you are a new business owner it is important to know what you brand is, what makes you unique before you start to market your business.
Misunderstanding #4 – Branding Drives Sales
Branding drives an enduring reputation and long-term relationship. Marketing is the one that drives the sales. Marketing methods over the years will evolve. It wasn’t too long ago that we didn’t even have the Internet. Then when the Internet came social media marketing, video marketing, blogging, PPC etc. came about. While marketing methods and platform may change branding will remain the same.
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