Many small business owners and entrepreneurs are still unclear about which business building activities qualify as marketing, branding and advertising. So I thought I would talk about this again to see if I could help find clarity for those you are not seeing the big picture. Not everything you see on TV, Facebook/Social Media, hear on Radio, or see in media print is advertising. I just heard a million “yeah right’s” ringing in my ears… lol there is much to learn grasshopper, keep reading and learn the differences.
In my experience, marketing is composed of all those activities which grab the attention of your product’s or service’s and compels ideal clients to do something. There are some distinctive companies that stand out when it comes to marketing. These companies are not out to shove advertising down your throat, however they are out to get your attention. Marketing includes those activities you do that raises your potential clients awareness about your product or service and gets your ideal clients to ask for more details about your product or service.
For example: Cell Phones: Verizon, Sprint, Apple… they are not dropping prices to compete for your attention. Why?? Because they know that if they present you with the latest technology, best apps and greatest connectivity you will buy regardless of the cost. NO??? How many of you have the new iphones, ipads, ipods, tablets, galaxy S….. these didn’t come with discounted pricetags. They know what the demand is for technology and they also know exactly what people will pay to have it.
Advertising is initiated when the qualified prospect contacts a representative of your business and starts asking questions about the product or service. Business Owners know they need to advertise their products or services to make the community/potential clients aware of what they offer. This is the area where businesses are trying to shove their products down your throat….. Advertising includes activities that move the buyer to make a decision about purchasing your product or service.
For example: Kolh’s, (50% off, BOGO, this weekend only) Burger King, (B1G1, Dollar Menu, Free Fries w/purchase) Car Dealerships, (0 Down, 0%, low monthly payments). Everyone of these phrases get the attention of buyers. The think they are saving money so they will go to where the deals are. Even if that means they are hopscotching all over town, store to store to get the items they need. In the end, they have wasted a lot of gas, more time and not really saved anymore than if they had just stuck to the normal and bought what they wanted and spent a few pennies more. Gas stations are another one… how many of you drive across town to get gas for 3, 5, 10 cents cheaper? If you think about it, the gas you wasted driving across town ate up any savings you received when you bought the gas.
Ok now let’s talk about branding. Branding is the creation and development of your company’s brand: the logo, images, slogans, ideas and other information connected to your company or product. Simply…being identified by a logo, slogan or image that directly says “this is who we are”.
For example: Apple, McDonald’s, Coca Cola. Apple made a stand with an apple image and has created worldwide recognition. McDonald’s did the same thing with the “Golden Arches” and Coca Cola with “Always Coca Cola and the polar bears. Each of these conglomerates are world renowned for who they are and what they offer. The need for explanation is not necessary, if you are told apple, you think computers, iphones, ipads etc… if you are told golden arches… you think McDonald’s. With Coke it’s simply the word soda. They have mastered the branding market, you are programmed to think about them when key words are used. That’s not a bad thing, how many of you would love to have the same recognition as these brands? If you answered no, then your lying. We would all love to have our companies recognized and as profitable as these.
I hope this has helped to simply break down the 3 areas most important to your business. Marketing, Branding and Advertising is essential to every business, sadly it is also the first to not be utilized due to lack of money or lack of knowledge for the importance in most businesses. If you are not using one or all of the above in your business, my question to you is “Why?”. There are affordable avenues for Marketing, Branding and Advertising your business. If I can help you grow your business with any of these 3 keys please contact us give us a call. We are one of the most affordable companies when it comes to helping businesses reach out to potential new clients.
What is the difference between Marketing, Branding and Advertising? EVerything!!!