Marketing VS Branding… What are they?
Are marketing and branding the same? The answer is yes… but also no.
What the heck is a Brand?
A brand is a phrase that describes who, what and WHY a company is in business. Its who the company IS. For example, a start-up company that manufactures outdoor gear for young outdoor enthusiasts might be run by millennials who love being outdoors, care about the environment, enjoy craft beer and farmers markets, wear earthy colors, drive jeeps, etc. When they talk about WHY they make the products that they do, they’ll say something like, “We love doing anything outside but needed a better way for people like us to afford the good quality gear.” The brand of WHO they are as a company will then be reflected in their marketing materials.
So what is Marketing then?
Marketing is a phrase used to describe HOW that company communicates it’s brand and its value (product/service) TO others. When you’re in business, not everyone is your customer. It would be great to sell a product or service to all 7.5 billion people on Earth…but that will never happen because the market is just too large! Instead, businesses have what’s known as a Target Market. These are the people who will most likely need and want what you have to offer—the goal of marketing to raise brand awareness for your target market.
How do Marketing and Branding connect?
Marketing is what your customers see and hear, branding is what they feel.
If you want to market your product, you have to figure out whos in your target market first. How? YOUR BRAND! Your target market will be individuals who relate to your brand… to you as a company. If your marketing successfully communicates your brand identity, those who relate to that (other millennials who like being outside, might drive Jeeps or enjoy farmers’ markets and cannot afford high-quality gear) will feel pulled towards your products. That’s why its important to be genuine in your branding!
What about Push/Pull marketing?
A strong brand will entice those who relate to feel pulled towards your product/service and company. They’ll understand the value you offer. They’ll feel connected to it just like you do when you meet someone with similar interests. This reels them in and gives you a great chance at making a sale. Before this happens your customer has to first be aware that you’re out there in the market. Your marketing, when done correctly, will place your product/service in front of your target market and your brand will do the rest. There are a variety of ways companies market their value to their target customers (market). It’s essential to understand your customers because while they will most likely share a lot of their characteristics with your brand characteristics/attributes, this is not enough. You must know how they consume content, where they are geographically located and their budget constraints, to name a few. A billboard for office space in New York will not be effective if it is on a side street in Nebraska. Likewise, if your customers prefer Netflix over traditional TV, ads on any channel won’t work either. This is why you must have a deep understanding of who your customer truly is.
How does this all relate to sales?
Sales are binary; marketing/branding is not. With sales, you either close the deal or you do not. Marketing and branding can be successful in either the short term or the long term. Brand awareness is something that sticks with customers, even if they are not in the market for your product at the moment. The overall goal of business is to derive a profit through sales. A solid understanding and implementation of marketing your brand will generate sales in the short term, the long term, or both!
Summary:
- Marketing and branding are like identical twins. Sales are their cousin.
- Marketing is what your customers see and hear, branding is what they feel.
- Customers see through fake branding, so be genuine.
- Understanding your customers is of the utmost importance.
- Marketing pushes your value to the target market.
- Branding pulls your target market to you.