How Marketing and Advertising are Different, and Do You Really Need Them?
It’s a commonly held belief that marketing and advertising are the same thing. Or, maybe you think that marketing is just advertising in more updated places, like on the internet.
Either way, you’re wrong.
Either way, you know that your business needs advertising, or marketing or whatever those advertising people are calling it nowadays. Right?
Wrong, actually. Let us walk you through it.
Things Have Changed
Someone in the journalism industry once explained it this way. Even the age-old practice of selling newspapers has dramatically changed. Instead of readers going to newspapers to get their news, now the newspapers go to their readers.
Now, that model affects almost all businesses. Consumers are no longer happening upon random advertising and calling up businesses they see plastered on park benches.
Consumers do business with companies that go out of their way to meet the consumers where they are.
Advertising vs. Marketing
We regularly hear the same objections from business owners such as, “Our business is different than most businesses.”
To business owners or managers, this can mean a couple different things.
The first explanation is that they think their business is too complicated to be marketed effectively. The second is that they don’t consider their business to be a typical company, so they don’t think they should use traditional advertising methods.
These beliefs come from a misunderstanding of what the difference between marketing and advertising is, and the belief that marketing companies do the same things as advertising companies.
That integral difference is that the marketing industry is customer-centric instead of business-centric. Advertising is the opposite.
Advertising can play a role within a marketing strategy, but it’s merely a piece of the big picture.
You Need Marketing
You think you need marketing because everyone else is doing it. But do you know exactly what that investment is getting your company?
Business-savvy companies want to track their investments and have a positive ROI (return on investment) attached to every penny they spend.
However, many business owners still believe that their marketing dollars will never have a positive ROI. This is another instance of not differentiating advertising from marketing.
The truth flips all those stigmas on their heads!
Strategic marketing plans can track exactly what companies are getting for their money. It could be in the form of increased website traffic, or an elevated sense of consumer respect for their brand that translates into more qualified leads.
Don’t just advertise your business. Market it.