Companies often think that just because marketing and advertising have some similarities, they are the same thing. Well, sorry to break your bubble, but that’s not true. There are many differences between them, and it will be beneficial to be aware of them. Marketing is an umbrella term, and advertising is one of its parts. Notice the change in your approach once you get to know what these words truly mean.
Many of us think the exact same thing when we hear the words marketing and advertising. But are marketing and advertising the same? Many consumers, even businesses, think they mean the same thing. Nonetheless, they have a common objective, that is, to make their product or service reach to the audience and inform them. But, there are some differences that one needs to understand. It will help you develop strategies that are more targeted and, ultimately, effective for the growth of your business. To learn more about advertising and marketing, keep reading.
What is marketing?
Marketing, to express in simple words, is the process of making your potential customers attracted to what you offer. It is a crucial part of any organisation, as it helps gain market share and maintain your existing customer base.
If we talk step-wise, the first step is to inform your target customers that you exist in the market. After that, set your goal to turn those potential consumers into paying customers. This can be done by leveraging marketing campaigns. Once your efforts start showing results, it doesn’t imply that your task is done. A successful marketing process also means maintaining customer relations once the sale is made.
Why is marketing important?
There are several reasons why businesses employ expensive marketing processes. Several of those are listed below.
- It helps in informing your target customers.
- Marketing helps you interact with potential buyers and stay in touch with them.
- It also maintains a positive perception of your brand in the minds of consumers.
- Moreover, it also draws more consumers to your company and contributes significantly to the growth.
- Lastly, it is beneficial to the main motive of a business, that is, to drive sales and revenue.
What is advertising?
Talking about advertising, it is a small part of the umbrella term that is marketing. It is a promotional activity that primarily focuses on selling a product or a service to potential buyers. The first step to advertising is identifying customer needs and developing strategies to influence them. If your target audience is a bit specific, developing highly personalised advertising messages will contribute a lot.
During earlier times, people used to leverage traditional advertising tools, but with rapid digitalisation, strategies such as email marketing and search engine marketing have become relevant. Thus, now it is up to the advertisers to decide whether they want to go for traditional advertising or digital advertising, depending on where their target audience is most active.
Also read – In-depth Analysis: The Fine Line Between Marketing and Selling
Why is advertising important?
Advertising is one of the most crucial parts of any company’s marketing plans. Its importance will get more clear by the points that are listed below.
- Consider this: How do you get to know about availability of a product? Advertising performs the function of informing the buyers.
- You might have seen it in your life as well. Advertising creates a unique perception in the minds of others.
- When they have already heard about you, they start finding you credible.
- Take any brand, for instance, Maggi, and you will understand how advertising builds brand value.
- Companies also advertise themselves so that their customers stay loyal to them.
What is the difference between marketing and advertising?
We hope that you will be aware by now of what marketing and advertising mean. With this said, let’s now focus on analysing marketing versus advertising.
Roles: Since the role of marketing is to improve the visibility and desirability of a brand, it includes various responsibilities. Marketing includes branding, analysing the competitors, defining budget, and market research. On the other hand, the functions of advertising are consumer analysis, strategy development, production and distribution of their USPs.
Objectives: It is evident that they both share the same common goal, that is, to drive sales. Marketing, as you might have seen in real life, aims to attract customers and improve brand image. Meanwhile, advertising is used to inform the audience about your brand, and ensure that they purchase your product.
Methods used: Advertising includes retail, traditional, or digital advertising, whereas marketing involves SEO, affiliate marketing, inbound marketing, and others.
Money required: Investment costs are very different in both scenes. Advertising is about placing the ads in the right mediums, while marketing has other functions.
Evaluation: Marketing goals are evaluated with market share, customer retention, and sales revenue. Meanwhile, advertising is checked by the number of people that interact with the brand.
Conclusion
The business terms, advertising and marketing, are counted among the frequently used business terms. While both have similar significances, they have different contexts in the entrepreneurial business. While it is essential to have a clear understanding of these business terms, the guide as mentioned earlier is there to help you understand the major differences between business and marketing.