Although the two go hand in hand, there is quite the big difference between marketing and branding. Perhaps the most notable difference between the two is that marketing has to do with your business message while branding represents who you are. Both marketing and branding work to build your business reputation and revenue. But, each has their own distinct methods and ways of doing this. As you begin to brainstorm and implement marketing and branding strategies, be mindful about their major differences and how they can help you with your business growth.
What is Marketing?
Marketing is the actual message that you are portraying and illustrating to your customers. The way that you create and place your logos is one example of marketing. Another important thing about marketing is understanding the right color schemes to use. For instance, many restaurants will use red and yellow colors. They place these in either their advertisements or in their logos because red and yellow are proven to be colors that entice taste buds. The way that you design your website is another example of marketing. You will want to ensure that your website is easily accessible and contains any information that is pertinent to the customer experience.
We live in the millennial age where almost anything and everything can be found and done online. In order to be successful in your marketing campaign, you must ensure that you are capitalizing on this concept. Being dominant online will give you the chance to market your business in the most innovative and efficient ways possible. This means you should be utilizing platforms such as automatic email subscriptions and social media. Have options for people to subscribe to emails and send out mass communication on a monthly basis. You can use this as an opportunity to stay relevant and send out any promotional sales/events. Social media is a great way to send out instantaneous information as well.
Promotion, promotion, promotion. No one knows who you are unless you promote yourself and your business. This means that you need to have a team in place that can strategically create a smart marketing plan for your business. Ideally, you should have a marketing manager who handles all aspects pertaining to the promotion of your business. This will help you designate one person whose sole purpose is to promote your brand and product. The more opportunities that you have for customers to participate in, the more you can engage with them and their interests.
Misconceptions About Branding
It is pretty common for people to believe that marketing and branding are the same. One of the reasons for this is most likely that they are always so intertwined that they are mistaken for being similar. There are a few misconceptions when it comes to branding. Take a look at the most common ones to prevent yourself from thinking the same thing and helping you with boosting your brand properly.
#1: Branding is Marketing
Branding is most definitely NOT marketing. Branding has to do with the perception that people have of your business AFTER marketing has taken place. Branding is a representation of what your business values are and how your customers see you. Just as the sun and the moon are different, they both hold a similar component to the way they benefit the universe. Again, branding and marketing are compliments of one another, not one in the same.
#2: You are the Authority of Your Brand
If you believe that you have complete control over your brand, you are wrong. Your customers, your business partners, the community… they all have part ownership in your branding strategy and representation. The way you brand yourself will leave a lasting effect on these people. This is why it is so important to be strategic and mindful with how you do this. When you brand yourself well, it will rub off on your audience and they will continue to be a part of your entire branding process.
#3: There is One Formula for Branding
Just like there is not one anecdote for losing weight, there is no one formula for branding. When you brand your business, it should encompass a variety of different strategies. This will help you with ensuring you are doing everything possible to upkeep a positive brand. From things such as going out to meet with business partners or designing a company logo, all of these bits are important to building your brand. Depending on your business, you will have a specific plan that aligns with your needs.
How will you know that you are branding yourself correctly? First, you should identify your business personality. Do you want to be seen as the cutthroat business or the one that works well within the community? Do you want to be seen as someone who gives back or spends every cent earned? All of these questions should be asked to help guide you in finding your personality. Then, outline your brand. This means you should construct a plan that is attainable for your business and teams. What is your proposed outcome? Use this question as a guide towards mapping out the steps to get there. Lastly, keep your audience in mind. They are the ones who will be evaluating your brand so ensure that you are targeting them in a purposeful way.
When it comes to marketing and branding, it is important to understand that both aspects rely on one another. They also are different in how they can help your business grow and sustain itself for the long run. Pay attention to your methods on marketing to your audience. Then, follow-up with branding strategies to promote positive representation for your business. This will allow you to successfully build your business with the proper channels and methods. Understanding the differences between marketing and branding is essential to running a successful business. It is also something that can help you with properly utilizing the best practices to achieve smart marketing and branding implementation.