Unpacking Branding, Marketing, Advertising, and Publicity
I want to break down or unpack some common marketing terms that sometimes get used interchangeably, and I’ll share with you my thoughts on the differences between them, so you can think about them more clearly as you are growing your business.
Marketing vs. branding
Your vibe attracts your tribe.
There is a common misconception that marketing and branding are the same. I am guilty of using the words interchangeably. Think about it this way:
- Branding is your identity and how people feel about you.
- Marketing is what you do to reach your target audience.
Advertising vs. publicity
Advertising is what you pay for, publicity is what you pray for.
- Advertising is paying to place your marketing material in or on third-party marketing channels.
- Publicity is the free sharing of your content in other people’s networks.
Is your business model even good, bro?
I’m serious. There’s no reason to toil away at a business model that may not be a good one in its current form. This isn’t to say that you have to start from scratch, but you might consider retooling a few things before you get too far into the Unify Brand Steps.
Consider your business model
You might consider refreshing your business model if:
- You sell one-off products or services
- You offer too much and you carry too much inventory
- You don’t offer upsell opportunities
I realized late in the game that it was my business model that was hurting my business, and not the quality of my work. And I want nothing more than to pass on that wisdom to you so your business can thrive.
Asking the right questions will lead to valuable insights into your company’s past, and help align your trajectory and your mindset to get the most out of the brand steps.