Say you have your own business, and in tandem with that, your own brand. Refining and growing both carry significant importance. Yet, through that goal, there are key differences between the aims and processes of growth, for each.
Your business is your books, your sales, your position in the market, your decisions and your logistics. Your brand is your community, your engagement and reach, your strategy for advertising and marketing, and your image in the market. While both are connected, while both influence one another on a significant basis if you’re looking to grow, you must have singular plans of action in place.
Some will argue that the foundations of your business should be the strongest. Others will argue that your brand and its credibility and relatability are the most important actions to secure. When in fact, both your business and brand direct your success, make your mark in the industry and help you run as you are today.
To develop and secure this, knowing the difference between growing a business and growing a brand is recommended, helping you understand the role of each action, along with how they do come together. This way, you’ll have the capabilities to focus your energy on the right area of business, at the right time, to achieve growth.
If it’s time to focus on growing a brand, we at Maxweb Solutions can assist, from the creative, to your strategy and to sustainability in the digital world.
Growing a business
Your business once developed will be your day-to-day running’s. It will consider your expenses and profit, it will consider your legal obligations and your logistics, it will consider your services or product offerings and it will consider your success rate, in comparison to competitors.
Growing a business should therefore focus on the behind the scenes of your company, the checklists which are necessary to sustainably and easily run a business and fulfil its offering.
With this in mind, growing a business will require operational, financial, legal and logistical decisions, to create the foundation of your business, ready to stand as a platform for your brand.
Growing a brand
The difference between growing a business and growing a brand is that business development will create your offering, yet brand development will create your name. A strong brand can help to build, grow and strengthen your reputation, your place and your traction rates, linked to your business.
Growing a brand concerns your values, your mission, your desired image, your voice in your customer community and your emotional and connective fulfilment. Brands attract, convert and retain customers by offering positive impressions, providing desirable experiences, and by fulfilling pain points.
To grow a successful and relatable brand, you must make people feel positive and fulfilled when exposed to your offering. While the logistics of your business provide that offering, brand development will showcase and ingrain that offering in a way which controls your image in the market.
While developing a brand is just as important as growing a business, in overarching aims of success, your brand development will be judged and accepted by communities, by humans, by fans and by global followers.
This is why you must consider the humanisation of your brand, in tandem with the security and legality of growing a business.
The difference between growing a business and growing a brand
By considering the above, it’s evident that the difference between growing a business and growing a brand surrounds the delivery of each offering. For example, growing a brand focuses heavily on humanisation, on the opinion of audiences, on promoting the ability to fulfil a pain point. A brand will create an ambience, an experience and a memory surrounding your offering.
Yet the delivery of a business focuses on the operational and robotic offering, on generating profits, on offering the right service to exceed business goals, and to complete the groundwork to fulfil a pain point. A business will serve your offering, providing a platform for growing a brand.
While there is an entwined relationship between growing a business and a brand, while they do impact one another, your strategies must be separated. Your business growth strategy should focus on the practical, on the legal and on the suitable.
Your brand growth strategy should focus on the creative, on the attractiveness of your offering and on the positioning of your image. Together, they can merge to build a reputable, stable and popular offering.
Yet, alone, they must serve their purpose, providing you with the capabilities to excel in growth and development.
The entwined relationship between business and brand
Although there are definite differences between the development processes of both business and branding strategy, there is an entwined relationship, where both impact one another.
Ultimately, your business decisions will control the branding decisions that you can make, along with the delivery of your offering. For example, your business can provide the foundations to work through a customer pain point. Yet, your brand will promote and share that offering, in a way which will attract, support and convert the right people.
Again, your brand and its growth will translate into business growth, in the form of profit and scalability. Which in turn, your business growth of straightforward and logistically processes will provide the scope to deliver the mission of your brand.
Both work hand in hand, helping you reach your overarching goals. Yet, in order to benefit from this relationship, you must also embrace their key difference, following individual strategies.
We at Maxweb Solutions are here to support you with this, by harnessing your business offering and translating this into your branding offering. Doing so independently can be tough nowadays, down to saturated markets and samey messaging. We can help you grow your brand in the right direction, which will result in growth for your business.
Alone each can independently boost your offering. Yet, together, your business and brand can complement one another, helping your business fulfil your brand community, brand image and brand strategy.
Posted on Thursday, February 18th, 2021 in Branding.