Technology and Business Week
This week we talk Tech and Business! I would like to start us off with a common question; What is the difference between Marketing and Branding, are they the same?
The question arises because most companies use them interchangeably. To some it is about boosting social media presence, others it is initiating campaigns or even creating a logo to others, etc.
There is no fixed meaning of the terms agreed so defined and differentiated below is what the experts in the field commonly use and apply as compiled from different sources;
What is Branding?
Branding is a marketing practice in which a company creates a name, symbol or design that is easily identifiable as belonging to the company. This helps to identify a product and distinguish it from other products and services. It makes a memorable impression on consumers and also allows your customers/clients to know what to expect from your company.
It is a way of distinguishing yourself from competitors and clarifying what it is you offer and why you are the best choice.
Branding is important because it gives a company recognition and makes It known to the consumers. The logo is the most important element of branding as a face of the company.
A professional logo design should therefore be powerful and easily memorable, making an impression on a person at first glance.
What is Marketing?
Marketing refers to activities a company does to promote the buying and selling of a product or service. It includes advertising, selling and delivering products to consumers or other businesses.
Marketing involves all the actions a company undertakes to draw in customers and maintain relationships with them.
Experts advise to network with potential or past clients as part of the work including writing emails, playing golf with a prospective client, returning calls and emails quickly and meeting with clients for coffee or a meal.
Before I got this marketing knowledge, I always wondered what exactly it is people find interesting in golf, just hitting balls and walking after them, so boring a sport!- Ignorance can be bliss.
Today especially after this kind of exposure, I will gladly play golf any day, this is one of the best networking places with potential clients.
Marketing follows the four Ps strategy (Product, Price, Place and Promotion). These collectively comprise of the essential mix a company needs to market a product or service, this strategy was popularized by Neil Borden in the 1950s.
Importance of understanding Branding Vs. Marketing
Incase you are wondering what comes first or if there is any order in applying the two, branding is at the core of your marketing strategy and it must come first. It is essential to clearly define who you are as a brand before searching for specific marketing tools or strategies.
Your brand is what will keep your customers coming back more, this is where loyalty is built. It includes attributes like high commitment to quality, community, convenience, communication and or commitment to a specific need your target audience needs to be fulfilled
Without branding, you may achieve success, but with branding, your success will be far more substantial. All strong structures have a solid starting point and foundation and understanding the difference between marketing and branding will allow you to build your foundation of branding—and your extensions via marketing.
It is important to understand the differences mentioned above and this comes down to conversions.
You cold create your marketing strategies with nothing other than key trends, and the most effective marketing methods within your industry, your conversions will be lower if your consumers are not connected to you as a brand
Your branding is what generates a timeless connection even if your current marketing efforts are designed to engage, it is the ongoing branding that keeps customers coming back.
Competition is fierce and matter of fact there are companies who offer comparable products and services than you offer. It is your branding that will keep your customers returning for more, it is your branding that makes you unique.
Lastly while marketing methods will come and go and evolve over the years from season to season, your brand will always remain constant.
I am The Sparrow.