How can it benefit ME, what’s in it for ME? This number may include payroll for your marketing team; even if it doesn’t, you still should spend 1-3% on advertisements. First of all, it’s important to note that advertising is a component of marketing. The B word we have been avoiding… yes, I’m talking about branding. Advertising is essentially just a fancy word for begging people to buy your product or service. On the other hand, Branding is a vast term that inculcates all the messages that pervade and governs all the processes of a business. If they were to say, “oh, instead of advertising Oreos, let’s just tell people to spread the word and hope for the best,” you’d probably think they were insane! Public relations (because it is very labor-intensive) is the second most expensive marketing component, and market research is … Depending on the wonderful taste you want to delight your tongue with, you choose your toppings all while thinking about who you are going to show off your delicious creation to or perhaps even share with. This site requires javascript to display properly. You take pictures of it, send them to your friend, post it on social media with the caption, “Almost looks too good to eat! This blog is here to clean up that confusion and share insight (along with dessert tips) into how these three can be applied to the strategies of your business when it comes to promoting your products or services. This blog is here to clean up that confusion and share insight (along with dessert tips) into how these three can be applied to the strategies of your business when it comes to promoting your products or services. If you’re feeling intimidated, don’t be. Your logo itself is not the brand, rather a component to visually identify your brand. How about some berries and sprinkles as finishing touches? Notify me of follow-up comments by email. Focusing on 2020, we are naturally more conscious about ourselves. You can also take advantage of the social media opportunities and increase your digital branding. a marketing strategy promoting to a specific group is crucial. What research have you, Identifying your target market and how to appeal to them can be made easier by, The concept of marketing is not going to change but how it’s applied, trends are constantly changing. You may have heard of the 4 P’s of marketing: product, pricing, placement, and promotion; these four are all related to capturing the attention of your target audience and persuading them to buy from your company. It can be hard to keep up with the fast paced, technology filled world now more than ever. Marketing, advertising, and branding are related in one way or another, but instead of being triplets they’re more like cousins. Somewhere along the line they (and when I say “they” I most definitely don’t mean you) – where was I? Check out our blog post here for more information about split testing. THIEL has been wanting to satisfy our sweet tooth and help you with your marketing needs. Marketing is a more controlled and wider-reaching process, while advertising is specific to brand communication. Promoting products and services on social media is becoming increasingly more popular. P: 1.855.641.2525 | E: onlineinfo@csp.edu, Copyright 2020 Concordia University St. Paul | Privacy Policy. Many people lump it in with marketing; however, while marketing refers to the content being produced, advertising is the money that is put behind it to get the desired reach. Speaking of research, research is essential to marketing strategies for any company no matter the industry. Knowing how to appeal to your consumers is key. So, […] Another aspect of market research is pricing and ways to distribute the product. Marketing is doing research to define your target market (why you selected those particular flavors of ice cream), it’s creating strategies and making decisions to grow your product or service to its fullest potential (choosing the toppings to better your sundae), it’s the overall way you want to approach communicating with your audience to develop and promote a product or service that meets their needs (deciding you want to show off the sundae on social media to friends, family, ice cream lovers). I highly recommend!” Whether it’s promoting your creation by showing it off to people on social media or physically taking the sundae to them and taunting them to try it, that is advertising. Today’s. about your company, the way you interact with customers, (you made a sundae because you were craving something sweet, odds are other people were too), elements of your brand that make you identifiable t. consumers and represent the company they are putting their trust in. Advertising is an important part of building a brand, but it’s not the only part. Post was not sent - check your email addresses! You can also take advantage of the social media opportunities and increase your digital branding. Small businesses in particular often rely on word of mouth for a lot of their reach. However, small businesses often only rely on word of mouth; while this is a great place to start, wouldn’t it be cool to see what happened if you did advertise? Our team at Blackwood has launched a podcast called The Big Brand Theory, and we’re currently doing a “Marketing Vs.…” series. According to the SBA, you should probably anticipate spending about 5-8% of your annual gross revenue on marketing and advertising. Everyone loves ice cream sundaes! With a focus on the consumer and what the business can do for them, you’ll have them hooked from the start. Marketing is how you are going to persuade consumers to buy your products. If you’re looking for an agency to help you out with both marketing and advertising, you’re in the right place! Marketing is a more controlled and wider-reaching process, while advertising is specific to brand communication. Branding is the result of the perceptions your consumers have of your company based on your values, what you have to offer, and the experience they share with you anytime or anywhere they encounter your company. Marketing and advertising have many things in common, but there are some differences. and you might realize it’s something you can relate to and use in your marketing strategy. It can be hard to keep up, with the fast paced, technology filled world, can help you stay on top of popular trends, keep you aware of controversial topics to stay clear of as to not implicate your. If you realize it’s not where you want it to be or not appealing to your target audience, consider rebranding (don’t worry, we have a blog for that too). Facebook and Instagram are getting, information. I know what you’re thinking, how can this be different in 2020? This experience you provide influences what they think of you (the fuzzy feelings, excitement, and hunger your friends get from looking at and experiencing your ice cream sundae). It’s 2020 and trends are constantly changing. It will also keep you aware of controversial topics to stay clear of as to not implicate your company with negative publicity. ! You can have marketing without advertising, but you can’t really have advertising without marketing. Advertising is a specific step of marketing.