Today on the Michelle Gifford Podcast we are talking about advertising, branding, and marketing. You may be wondering how these three things are different. Maybe you are wondering how you are going to use them in your business strategy? I get it. It can be very confusing!
Yes they are each a totally different thing but they work together. Today, on the podcast I wanted you to stop and think for a second about that question. How are they different?
Got your answers?
The simple explanation is: Advertising is paid. Branding is teaching people how to talk about you. Marketing is a strategy that brings everything together.
Simple enough, right?
3 Pieces of Your Business Strategy
Now let’s dig deeper into these answers and how they play a part in your business strategy.
Advertising: We all know that we can advertise by doing TV commercials (even though everyone is on Netlfix now ha!). You can do online ads, Facebook ads, Instagram ads, promoted Pinterest pins. You can also work with influencers through sponsored posts or brand ambassadors. This is a great way to advertise in today’s world, it doesn’t mean the influencer doesn’t love the product or those aren’t their honest thoughts. I work with influencers who do this and they put A LOT of work into these collaborations. They just need to make sure they are following the correct advertising laws and standards with proper disclosures. Effective advertising can be beneficial for everyone involved and can be a great piece of your business strategy no matter your budget.
Branding: Is teaching people how to talk about you. It’s how people are going to think about you, talk about you, remember you. Two weeks ago I had the opportunity to go through this very exercise. Remember last week when I was trying to decide on a name for our community? Biz Sisters was the perfect name because it says a lot about our community. It couldn’t be Biz Babes, because we are babes, not babies. It also says we are a community, that we join arms and help and support each other like sisters. Two of the things I want my brand to portray is that I love to help women with their businesses and to help moms have fun doing it, even with kids. Remember that your brand is the problem that you solve for your peeps over and over again.
Marketing: Is the strategy behind all of this. A perfect example of this is Walmart. In the past, Walmart had a reputation of being… I don’t know, kind of cheap and not super stylish. Whatever words you might have… fill in the blanks. But recently you may have noticed that some of the biggest Instagrammers are working with Walmart now. Walmart is really stepping up their game when it comes to clothing and home decor. They are using their advertising to work with influencers in the fashion and interior design space to help update their brand.
Looking for more?
If you are interested in hearing the rest, listen to the rest of the podcast over at the Michelle Gifford podcast.