Did you know the average business spends around 1% of its revenue on advertising?
You might be spending the same amount within your firm, but your campaigns may have a poor ROI. If that’s the case, you might be having issues because you don’t understand the difference between branding and marketing.
Keep reading, and you’ll learn about brand strategy vs marketing strategy. If you want to squeeze the most out of your ad budget, the knowledge in this post will help you generate a brilliant ROI.
Brand Strategy vs Marketing Strategy
To begin with, let’s explore the difference between these two concepts.
Branding is when you’re trying to convince people to see your business in a particular light. Following this, branding strategy is simply a process that allows you to figure out how you want to be perceived.
A lot of the time, this task involves defining the core values of your business. It also involves defining the kind of language and color scheme you will use when creating promotional materials for the company.
Marketing strategy, on the other hand, is very different from branding strategy.
A marketing strategy will help you determine how you’re actually going to promote your goods or services.
So, when developing your marketing strategy, you might cover how you’re going to use Facebook Ads to generate sales for your business.
Marketing strategy is also designed to deliver a certain ROI, while branding strategy isn’t driven by an ROI.
Developing Successful Strategies
Now that we’ve covered how these strategies differ, we will now explore how you can develop effective strategies.
If you’re starting out, you might find that imitation will be a big help here. For instance, when developing your branding strategy, you might want to identify certain brands you respect.
You could then ask yourself what it is about these brands that you respect. You could then use these answers to develop successful brand strategies of your own.
If you want to imitate another company’s marketing strategy, you will need to take a more hands-on approach. For example, within your niche, there might be a large company generating a lot of sales.
If you want to figure out how they’re generating these sales, you should track down their ads. You should also sign up for their email newsletter so that you can review their email marketing strategy.
Note that there’s also the option of outsourcing branding and marketing tasks to a company like the Avitus Group.
If you adopt this approach, you will free up a lot of time, thereby allowing you to focus on other problems.
Will You Develop Successful Strategies?
In this post, we’ve done a deep dive into brand strategy vs marketing strategy.
If you’re just starting out, you will most likely want to prioritize developing a marketing strategy. That’s because a marketing strategy will allow you to get some customers in the door quickly.
However, once you’re firm is doing well, you can then put some time into developing a brand strategy, which will ensure your company’s longevity.
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