To build your company and turn your business into a brand, it is important to understand and differentiate between these two key aspects: Branding and Marketing. Differentiation between these concepts becomes easier when both of these concepts are understood separately and then combined to grow your enterprise. To explain in simpler words, branding is what makes the organisation or the core beliefs of the organization whereas marketing is the step-by-step procedure that helps you reach your business goal.
To understand these concepts better, let’s understand your business as a person. This person, like you, has core beliefs and values that define their character. The backstory and core beliefs are branding. While the steps taken to build a brand image such as the social media of the person are their Marketing. So, your Instagram Feed is a marketing tool that markets you as a brand.
To put it simply, branding is the identity and the backstory for the company. Branding is the long-term aspect of the company that stays constant throughout the years, like a strong foundation that then gets built on. Even when new features are added to it, the foundation remains the same. It is something the audience identifies with, starts trusting and becomes loyal to. It defines the path on which the firm is and what goals it has to achieve staying on the same path.
On the other hand, marketing can be defined as the steps taken to reach the goal that has been set. Marketing tends to variate according to different times, audiences, and trends in the market. It keeps changing and evolving to attract your target audience and it is something people respond to. Marketing is the way you present your brand’s identity in a way that is fit to the changing times and still makes your company stand out.
Marketing helps you build your brand image. It is customised according to the target audience and supports the branding you have created. While sticking to your business’ core values and without compromising on values or ethics, marketing works to attract potential customers and build trust and loyalty in the existing consumer base.
While building your business, branding must come first. It lays the foundation upon which marketing strategies and tools can be built. For example, McDonald’s is a brand and has a foundation of being a fast-food chain that sells burgers and fries. If it were to change to vegan healthy food tomorrow, it would lose its core customer base. This is because your branding is what keeps your customers loyal and keeps them coming back for more of your product or services.
On the other hand, if McDonald’s were to change its marketing strategy to painting fries as zebra crossing on roads, a strategy that enhances its brand image, the response would only be positive. Therefore, your branding is a core value that stays constant and your marketing is something that enhances this brand image and help your business grow its reach.
Sign Up for our Candid Business Hacks