When you are building a business, there are many buzzwords that get thrown around. Often, it can be hard to keep them straight. There are two concepts in particular which have a tendency to get lumped together that are marketing and branding. So, what exactly is the difference between marketing vs. branding? In this article we will break it down for you.
In reality, marketing and branding are two very different concepts and if you want your business to succeed, then you need to comprehend the differences between the two. You also need to know about how to effectively use each to take your business to the next level. So, let's learn about the importance of Marketing and Importance of Branding but before we jump into that, let us first cover what exactly, marketing and branding are.
WHAT IS MARKETING?
In simple terms, marketing is defined as the set of tools, processes or strategies that you use to actively promote your product, service, and or company. Think of marketing at it as the actions that you take to connect with your customers and convery them into your buyers.
WHAT IS BRANDING?
Branding is the marketing practice of shaping your brand and taking it to the right direction. Branding is about defining who exactly you are as a company. Branding is your mission, your vision, your values, and what makes you special and unique. It is your key brand elements such as your logo, your website, as well as your brand style guidelines. If marketing is what gets people to interact with your company for the first time then branding is what keeps them coming back for years to come and buy your products or services.
BRANDING VS. MARKETING
Now that we know what Branding and Marketing are, let us talk about the key differences between them and why and how does it matter in business. While marketing is used to promote your business' product or service, branding is used to shape your brand and who exactly you are. You will need strategies for both as they have different goals and final results.
1. Marketing is a great way to get a customer’s attention but branding is a great way to keep them engaged
No matter what industry your business is in, chances are that you are just one company in a sea of competition. Hence, if you want to make waves and grab your customers attention, marketing is an absolute must no matter what. However, once you have your customer’s attention, you will need something that is going to keep that attention for long and that is where branding comes into picture. It helps your customers stay engaged with your company and buy your offerings repeatedly.
2. Branding comes first, marketing comes later
n the big scheme of building your business from zero level, branding always comes before marketing, remember that. It is because you cannot exactly market a brand that you have not designed yet. Once you have your branding in place, you will have a better comprehension of who exactly you are, who your customers are, and the best ways to connect with those customers. Accordingly, you can build a marketing strategy that would work.
3. Marketing drives sales whereas brranding drives credibility and loyalty
At the core, most of the marketing strategies are meant to drive results that is increase in sales. More often than not, the results that those marketing strategies are trying to drive will have to do with sales only. However, branding takes a different and in fact, more long term approach. Branding is not really the best solution if you are looking to drive sales but it is undoubtedly the best solution if you are looking to build brand recognition. It helps drive positive brand sentiment which is just as important as anything else. It will in fact, coincidentally have a major impact on your ability to drive sales in the long run.
4. Branding has an equal impact on your team as on your customers
Your team is going to be the people that is responsible for developing and implementing your marketing strategies and campaigns. But outside of that, they are not really going to be impacted by your marketing. Your branding will normally have just as profound an impact on your team as it has on your customers. The way you need your customers to believe in your brand, same way your employees also need to first believe in brand. Once you build a brand that your team wholeheartedly believes in, will be much more passionate and committed to their respective works. They will hard, push themselves and bring their best possible ideas to the table and your business will thrive eventually.
5. Marketing strategies come and go, however, branding is forever
In the process of trying to build a successful business, you are going to need to actively market your business offerings ans so, marketing is undoubtedly important. However, the strategies that you use to market your business are temporary because each marketing tactic is going to have a clear beginning, middle, as well as an end. Branding is quite different from that. No matter where you currently are in your business stage, you will have to work on defining who you are as a company. You will have to shape your brand’s perception with your audience. You will have to foster a deeper and meaningful relationship with your customers. As your company grows and evolves, you will need to grow and evolve your branding too so focus on it as soon as possible.
CONCLUSION – MARKETING VS. BRANDING
We hope you got the difference between Marketing vs Branding. Remember that branding only offers your customers with an understanding of whether or not to choose your brand. A very main point to be kept in mind is that branding is not a one time practice which you need to do only at the beginning. It is an ongoing process which pervades your ways, your philosophy and most importantly, your progression as an organization. It also requires a great deal of commitment as well as loyalty which should reflect in your efforts. Finally, each and every business wants to acquire as many customers as they can and this is the measure of the success of your brand as well so don't worry and just keep working in the right direction