Sometimes the terms marketing and branding creates confusion because of their close connections and unity of purpose. All three components should be combined to help you maximize sales and enhance the company’s reputation. So, deep understanding of differences among these terms can substantially help you grow your business. Here is a distinct difference between three core strategies that newbies have to recognize.
So, you've kicked around a business startup and you're looking to take your business online. Great! But wait...before you start the journey, you need to be strategic about building the basic pillars of your digital presence. The successful business plan typically starts with a thoughtful planning of objectives that will define effective strategies of branding, marketing and social media.
What is Branding Strategy?
Branding means define your business personality, voice, message and create memorable image in the mind of your customers. This is the long term plan that helps get potential buyers to remain loyal to your company lasting. It is message that defines and rules all the processes of your business.
A well-defined and effective branding strategy affects all stages of a business and is directly connected to consumer requirements, emotions, and competitive environments. Branding gives persona to the company, such as, Volkswagens are known for their reliability, or Apple is known for its secrecy and rivalry. These companies have built their brands into easily recognizable traits that let them to appeal to their audience in a unique way. That makes their business more than just faceless entity.
What is Marketing Strategy?
Just like a blanket, the marketing strategy covers all forms of interaction with customers and utilizing models into one comprehensive plan. A good strategy is built from market research and focus on developing targeted advertising to reach specific type of consumer and sustain the brand. Without a right brand building strategy, the marketing facets will be like gunfire in the dark.
It is the set of processes and tools promoting your business, including SEO, PPC, local search, mobile, and traditional marketing. With marketing strategy, you can get opportunity to analyse your customer needs and develop effective ways to keep your company top-of-mind among the decision-makers. While the branding is message, the marketing is action.
What is Social Media strategy?
Social Media is the platform where all the marketing ends, but at the same place branding begins. A proper social media strategy helps to build the relationship, facilitate conversations, share messages and define a plan to bind them to achieve business goals. The social media efforts are tied strongly to your business’s success.
What is the Major Difference between Branding Strategy, Marketing Strategy and Social Media Strategy?
In a word, branding tells what we are, while marketing is what we do for whom. Branding is strategic - and marketing includes your tactical efforts - and social media is one of the most powerful tools in your marketing resource.
The main purpose of the branding strategy is to tend what your audience can expect from you and how they feel when they utilize your services and products. Once you define your business, branding strategy will be utilized to head on marketing efforts. Here, marketing strategy works on increasing sales and taking a sustainable competitive advantage. Afterward, the social media strategy promotes a product or service through the various social media channels to generate more leads.
Strategies and Tactics
In today's competitive world, brand is key matter to audience and business bottom line. After the brand is built, the marketing is executed to bring your brands to life.
Branding strategies provide helpful, important branded information such as business purpose, value, insights, voice, consumer loyalty, reliability, flexibility, employee involvement, competitive awareness etc., that prospects need at all stages of the marketing process. Just keep in mind that your customers are key person for your business and the big data can help you reach them more effectively.
Once you have specified your customers or target market, you need to start implementation tactics to reach them. The marketing tactics include product or services, price, position, promotion, people in business, process, and physical environment. Such tactics will turn your strategy into a reality in your marketing plan.
When you start with branding strategic and end with marketing tactics, the social media marketing become very easy and straightforward. A smart social media campaign has strong hand in spreading word of your business. Through social media, a brand can build communities or networks to encourage prospects and customers. It also combats the challenges and tracks your efforts to increase leads and revenues in the long run.
For Branding Strategy:
- Build brand awareness of your brand
- Create an emotional connection
- Differentiate your product according to your customer’s need
- Create credibility and trust
- Motivate purchasing
For Marketing Strategy:
- Increase sales
- Generate high lead volume
- Achieve a sustainable and competitive advantage
- Contribute to revenue generation
For Social Media Strategy:
- Increase your brand recognition and online influence
- Drive more traffic to your site or blog
- Increase website visitor loyalty
- Increase total conversions rates
In short, business marketing campaigns can be very powerful and thriving. The focal point is to plan your business goals, objectives, marketing strategies and tactics carefully.
Keep in mind, your marketing campaigns will be never completed. Once you achieve specific goals, you need to start over with a new branding strategy and new goals. Learn from each strategy and apply it to make your next marketing strategies and build a well- rounded business.