In the world of business, the endless jargon can be tricky; from analytics to zero-cost strategies, there’s a lot to keep up with. Marketing and branding, for example, are terms often used interchangeably, although they mean different things. Here’s what you should know about the differences between the two and why they need each other.
Marketing
According to the American Marketing Association (yep, that’s a thing), marketing is defined as, “The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”
In more conversational terms, marketing is a tactic that intends to promote a product or service by grabbing the attention of consumers. The end goal, naturally, is to turn the consumer’s attention into a sale.
Marketing can take a variety of forms, including social media posts, promotional events, web ads, commercials, word-of-mouth campaigns, and brand activations designed to boost awareness and attract more people to a specific product or service.
Branding
Branding is closely related to marketing in that it’s designed to influence how consumers think and where they put their money. It’s a type of strategy that shapes the reputation of your company as a whole (rather than focusing on a single product or service), encompassing elements like logo, tagline, company values and history, core goals, and voice.
The aim of branding is to keep your customer’s attention once you have it, create brand loyalty, and stand out from the competition.
Which Comes First?
Whether marketing or branding comes first seems a bit like the chicken or the egg argument, as they’re both so intertwined. But branding is essentially the soul of your company, which means it must be established prior to anything else. After all, you can’t tell others what you’re about until you decide for yourself.
Marketing and branding are a one-two punch in your sales strategy, both important and both requiring expertise. If you need some guidance in these areas or anything else, give us a shout and we’ll be happy to help.