Advertising, Marketing, and Branding are the most misunderstood business professions and one of the more significant budget cuts when times are challenging. Bosses genuinely believe they understand the impact; however, my extensive experience says the opposite. Yes, they do interconnect; however, each plays a role on its own.
What is the difference between Advertising, Marketing, and Branding?
Advertising is the process of promoting your business. It can be passing out flyers, a print ad, running a TV commercial, or targeting online potential customers with digital placements. The many ways to advertise are so fragmented that choices to reach your target customer are vast and deep, depending on how much you are willing to invest.
Marketing is the process of defining who you are. It could be supporting a local school, participating in a community event, or lecturing as an expert. It’s networking and getting people to know you better, or answering your phone and greeting customers so they feel welcome. Is your brick-and-mortar business clean and welcoming. Are your retail items displayed carefully? Does your business have “flow.” The music you play at your business is another part of marketing in the impression it makes. Every tiny piece sets the tone to express who you are.
Branding is how you tie everything together. It’s not merely your logo or name; it is instead your strategy, your mission, and your legacy. Think of it as your hard work of blending advertising and marketing to have your name top-of-mind. You are easily recognized and recalled. Having a strategic brand mission differentiates you from your competition. It places you at a higher level than the guy across the street advertising the deal of the day.
WHAT HAPPENS IF I CUT MY ADVERTISING, MARKETING, OR BRANDING BUDGET?
When you cut your advertising or marketing, you lower your footprint or ability to brand your business. Branding is a constant process. It encompasses everything you do externally AND internally. Yes, it even traces back to how your staff answers the phone or greets a customer.
So now you know. Don’t fall into the trap of thinking that advertising, marketing, and branding are all the same. Your talent is running a business with your unique skills. You cannot know all the ins and outs of marketing that are intuitive and challenging to teach. If you need ideas on how to advertise, market, or brand your business, we may be able to help.