What should you opt first as a start up?
Brand development is the process of answering certain questions about your brand’s identity and value. The difference between branding and promotion can seem confusing. Brand Promotion is synonymous with marketing activities. The term can encompass various forms of Digital and non-digital marketing out reach, including print advertising radio ads, television, content marketing, social, mobile, and much more. Ultimately, the best methods of promotion are entirely dependent on your ideal customers whereas Brand Development exercise should include a focus on your ideal customers, and how you can solve their pain points.
If your marketing strategy includes too much brand development and too little promotion, your sales could be dismal. You may understand your ideal customers perfectly, but they may have no idea who you are due to poor packaging, Digital marketing, or other promotion methods. Well-developed brands that aren’t promoted in the space can get discovered on grocery shelves, but they haven’t maximised their potential to build buzz.
On the other hand, if your marketing strategy includes too little brand development and too much promotion, you may struggle to build customer loyalty. Your customer may like your products, but will they remember to purchase your product again in future? Without a distinct visual brand identity, packaging, or brand promise, you may be too easy to forget.
The debate between “branding and marketing” is nothing new. In Consumer Packaged Goods (CPG) realm, marketing teams have weighed the benefits of investing in brand development versus promotion strategies for years. However, your CPG brand can’t compete without a solid balance of these two methodologies.
Branding should come first. Without solid brand development, your promotion efforts may not yield great results. Without promotion, your brand may not win fans and promoters.
However, there’s simply no question that both brand development and promotion are necessary for success. In order to succeed in the competitive market space, organisations must achieve a balance between branding (strategy) and promotion (tactical). With a well-balanced approach to competition, you can increase your chances of long term success.