Some business owners and marketers use the terms marketing and advertising interchangeably as if the two words mean the same thing. However, this isn’t true. Marketing and advertising are different concepts.
Understanding the difference can make an impact on your company’s marketing efforts. Here are some considerations about the differences between marketing and advertising when it comes to businesses.
Marketing is the process of promoting products or services, from evaluating potential market opportunities and conducting focus groups to creating marketing campaigns and measuring the results.
Whether you set goals for your campaign’s conversion rate or conduct a SWOT analysis, you are engaged in a form of marketing. All companies need marketing plans to increase sales and define placement in the marketplace.
Advertising makes products known to potential customers. This could be in the form of banner ads, pages in newspapers or magazines, or paid social media ads. Using multiple advertising channels could be a part of your company’s overall marketing strategy to launch new products or services, or to grow your company’s customer base.
Advertising is a type of marketing, but it’s not the only type. It is a prominent type of marketing that most companies use as a vehicle to market their business’s products or services. Even non-print advertisements such as Google Ads campaigns count as a form of paid advertising.
Advertising is often the most expensive component of a company’s overall marketing plan. It takes money to create advertisements and to find a channel to deliver the advertisement to your intended audience.
For instance, in an EDDM advertising campaign, you have to pay to develop the written copy and text, have the ad printed, and to have it mailed. Very few advertising campaigns cost nothing to produce.
When it comes to how you think about marketing, consider how marketing works to create a brand position for your company in a way that advertising alone could not.
If advertising is the actual poster, banner, or ad placement, then marketing is figuring out how that single advertisement fits within the larger scheme of things. This includes what channels to advertise, what information to highlight about your product, and what type of customers to target.
For instance, if your company sells diaper bags, you’ll need to know what makes your diaper bags different than others available on the market. This marketing research can inform your future advertising campaigns.
Marketing and advertising are two different but equally important aspects of a business. No matter how established your business is, having a marketing plan that incorporates advertising is an excellent idea. You’ll have a better understanding of what you’ll need to do to grow your business—and this often includes advertising.
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