What are branding and marketing? Are they both the same? Should I invest in branding or marketing? When starting a business, questions like these are common.
While branding and marketing are interrelated, there is a subtle difference. In this article, we will try to make you understand the difference between branding and marketing.
What is Branding?
Consider this example. Two tennis racket companies manufacture rackets in the same manufacturing facility. While one company has a big brand name, the other is a small business. The design, material, and standards of the rackets are the same. But, the sales of the branded rackets are way more than the other business. Why do you think so? This is the power of branding.
Branding is the act of showing to the world about your business. With branding, you will tell the world why your business exists, what values and principles it stands by, what experience does your business provides, etc.
Visual elements like logo and brand name, intangible elements like company culture, communication characteristic, feelings that your products or services evoke in a customer, etc., are some of the branding elements.
According to CHL Worldwide, the best brand-building agency in India, branding is a strategic and long-term goal. It will create loyal customers to your products or services, lets people advocate about your brand to others, and lets the customers understand what your business stands for.
For example, the power of branding determines whether you will buy an Apple computer or a Microsoft computer. For avid lovers of Apple products, they are sure to buy an Apple computer. This is the power of branding.
When branding is done right, your marketing will be easier, and your sales team will be a happier lot. Why? Because there is a correlation between branding and marketing.
What is Marketing?
Marketing is the act of promoting your products or services to the target audience through various channels. In essence, marketing unearths potential customers by making them aware of your products and services. It is a tactical tool to boost your sales and is a short-term goal. But, marketing always keeps your brand values at the core to promote sales.
Both offline and online methods are available for marketing. For example, the services of a digital marketing agency such as Search Engine Optimisation (SEO), Pay Per Click (PPC), Social Media Marketing, Content Marketing, etc., fall under marketing. Using these channels, the agency will promote your products and services to the target audience.
To sum up, marketing will get you sales. But, branding is what you need if you are planning for the long-term growth of your business. Branding is thus, essential for becoming a successful business.