What’s the Difference Between Building a Brand vs. a Business?
Are you feeling a little overwhelmed about building your business? Well, you're not alone. There's a lot of information out there about building a brand and a business, and it can be difficult to know where to start.
You may think a business and a brand are one and the same, but they’re not…
In this blog, I break down the differences between a brand and a business. Whether you're just starting out or you're looking to take your business to the next level, you'll leave this blog with a better understanding of what it takes to build a brand vs. business (and how I can help).
Brand vs. Business: What’s the Difference?
What is a business?
A business is an organizational entity that provides products or services to customers in exchange for payment.
Your business model is the strategic plan that determines how the business creates, delivers, and captures value for its customers. It answers questions like “What will you sell?” and “Who will you sell it to?”
Without a clear business model, you have nothing to brand (and no money).
How do you build a business from square one? Building a business includes things like:
Conducting market research
Developing your products/services
Writing a business plan
Selecting a business name
Registering your business
Finding a location (if you’re a brick-and-mortar business)
You likely started a business because you’re good at something and you think it’s valuable enough for people to pay for it, whether that’s a product or a service. However, being good at something isn’t enough. You need to get your name out there by establishing a brand that helps you stand out from the competition.
The goal of any business is to make money, but the goal of a brand is to create a connection.
What is a brand?
A brand is your customer’s perception of your business.
People often confuse “brand” with things like logos and color palettes. While those are elements of a brand, your brand is much bigger than a series of design assets. It’s an emotional connection between a company and its customers. If your audience feels a stronger connection with your brand than your competitors then they will choose to buy from your business.
You can shape people’s perceptions of your business through branding.
Branding is the art of expressing what your brand represents, from its personality to its purpose. And one way to express your brand is through design.
Every business has a brand, whether it’s defined or not—but you want to define your brand before everyone else does.
How to Build a Brand, Not Just a Business
Building a brand is essential for creating a successful business that stands out in a crowded marketplace. Here are some steps you can follow to build a strong brand that supports your growing business.
Define your brand purpose
Start by articulating why your business exists and what it stands for—this is your reason for being beyond making money. Your brand purpose reflects your brand's values and the positive impact it aims to make in the world. For example, a brand that sells eco-friendly products may have a brand purpose to reduce waste and promote sustainability.
Know your target audience
Create ideal client avatars to identify what your target audience needs, wants, likes, dislikes, etc. so you can build a brand that connects with them. You can have the most amazing product or service in the world, but if you’re marketing it to the wrong audience, you’ll never get off the ground.
Develop a unique value proposition
Your value proposition is a statement that communicates the unique benefit your brand offers to ideal clients, positioning it as the best. It explains what sets the product or service apart from its competitors and why a customer should choose it over other options.
Create a brand personality
A brand personality is the set of human characteristics associated with a brand, making it more relatable. One exercise to help define your brand’s personality is to pretend its a person at a party. For example, Victoria’s Secret would be an attractive woman who is sexy, glamorous, and charming.
Establish a visual identity
Your visual identity (e.g., logo, color palette, typography) is how your brand looks and should be informed by brand strategy to ensure its effectiveness. Creating a unique, recognizable brand identity that resonates with ideal clients should be the goal of any design process.
Build brand awareness
Once you have an established brand identity that sets you apart in the marketplace, invest in marketing and advertising initiatives, such as launching a website. These initiatives aim to promote your brand among your target audience so they become aware of your offerings.
Foster customer loyalty
It costs much more to acquire a new customer than it does to sell to an existing one. Encourage customers to return by delivering a high-quality customer experience, and by creating strong relationships with them through community-building efforts (e.g., growing a following on social media).
Stay true to your brand
Consistency is key when it comes to building a strong, recognizable brand. Make sure that everything your business does, from its products and services to its interactions with customers, aligns with your brand purpose and values.
Brand Your Business With Selah Creative Co.
You can’t control how someone perceives your brand, but you can certainly influence their perception of it. And that’s where brand strategy comes in.
Brand strategy helps build your brand from the ground up by uncovering answers to key questions about your business. Some of these questions include:
Why did you start your business?
What is your long-term goal?
How would you describe your ideal client?
What do you stand for?
How is your offering better than the competition?
If you want to start brand building today, get in touch with Selah Creative Co. We can help support the success of your business by developing a strategic brand that aligns with your purpose and values, resonates with your target audience, and differentiates you from the competition.
