When you are developing a business, there are so many aspects to consider. A popular one among them is branding. But along with branding, there is another term called marketing, which people think or deal with in the same way.
Branding and marketing are two closely connected aspects of business development. However, there are some noticeable differences between the two. So, as a business owner or a business developer, it is important for a person to understand the differences between the two.
What is branding?
Branding in simple words can be defined as building an ‘identity’ for a business that distinguishes it from the others and makes the business unique. It is the process of creating value for a brand among its potential customers and the general audience. Branding is not just providing a brand name or design elements, it involves other aspects like defining vision, mission, values & specialties, the brand’s commitment to quality, gaining customer trust, and so on.
What is marketing?
Marketing is a promotional strategy used to deliver the essence of your brand. It involves various tools, methods, and strategies that are directed toward your target audience to convert them into potential customers. Whether it be online marketing or conventional offline advertising, marketing is used to actively promote a company’s products and services, without moving away from the core values of the brand.
How branding is connected to marketing?
Branding is one of the main elements of your marketing strategy. To easily understand the linkage, let us consider an example. Consider you own a restaurant and that establishment is your brand. The process of branding can involve adding a special dish to your menu that is unique from your competitors. And marketing involves discovering and implementing all the possible ways ( like radio commercials, TV ads, social media campaigns, etc.) that will make the audience excited in trying out the new dish and frequently visit your restaurant.
Your brand is something that keeps the customers coming back again and again. It is the foundation upon which the loyalty of your clients is built. Marketing methods promote your business and brand, and those methods will evolve with time, according to the demands and trends in the market.
Always keep in mind that branding is an intangible asset, it is something that stays with you forever. While marketing brings new and improved ways to cultivate customers, branding aims to create value for customers.
Key differences to consider
- Marketing helps to gain the attention of customers, branding helps to maintain their trust.
- Branding is followed by marketing. Marketing aims at increasing sales, while branding focus on building a reputation.
- Marketing can bring immediate leads and promote overall sales. Branding drives recognition and builds trust among customers.
- Marketing strategies can change or perish, branding stays forever. Branding is actually, the creation of a value, and marketing promotes this intended value.
- Marketing doesn’t have much effect in-house, but branding creates an impact on your team, as well as your clients.