Brand vs. Product Marketing (Advertising), Which One Do You Need Now To Achieve Next-Level Growth
brand direction & styling by us for Boheme Fragrances | photo by Aimi Photo
Are you feeling confused about where to focus on next in your marketing to grow your business to the next level?
When you’re not sure if what you are doing is moving your business forward, you constantly feel unsure about your marketing and wonder whether you’re throwing your resources and time down the drain.
You are not alone. This is one of the most common questions we receive from entrepreneurs and business owners.
To figure out whether your marketing is on the right track, you need to first understand Product Marketing (or Advertising) and Brand Marketing, then focus on the one that better aligns with how you want to grow your business.
Here are the differences between Product Marketing and Brand Marketing. Find out which one your business needs right now:
Product Marketing (or Advertising)
It is mainly a one-way communication, sometimes through storytelling and sometimes through direct exposure of what you are selling and advertising. The focus is to maximize the exposure of what you sell.
Running ads has become easier than ever for businesses to run. As a result, consumers are bombarded with ads that are designed to get people’s immediate attention on specific products or services.
Pricing may be a key purchasing factor because the goal is to show what you sell to as many people as possible and sell on the spot
This is considered a short-term tactic with little consideration on nurturing relationships and building trust.
Late-night infomercials are the perfect examples.
Brand Marketing
It is the process of crafting an experience people have with your business, and it is tied to everything you do.
It is a consistent effort and it needs to be considered at all levels in your business, including customer experience, post-customer service, logistics, pricing, marketing, business model, operations, etc. Because every component in your business is connected and people feel the impact of all your decisions through their experience with your business.
Building loyalty and relationships are the main goals of Brand Marketing, which lead to returning customers and referrals and turn customers into your brand advocates.
This is a long-term effort and a strategy to sustain your business growth, therefore, instead of overnight sales, the return on investment is compounding growth throughout a longer period of time.
If you only focus on Product Marketing/Advertising, as most businesses do, you are missing the tremendous opportunity to expand and grow your loyal customer base. Which means you lose sales from return customers and referrals.
People don’t connect with a product or service you sell, but they can feel connected with a brand. And because purchases are made with emotions first and justified with logic afterward, a brand, when done effectively, can be extremely powerful and valuable for your business because it incites emotions and connections with people, further building loyalty.
Get clear on which type of marketing aligns with your goals and prioritize your marketing efforts accordingly!
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Join me at our FREE training, so you know how to grow your profitable brand people love AND a loyal customer community who keep buying from you!