20 May Brand Marketing vs Product Marketing
Brand marketing and product marketing sound like the same thing but there are distinctions between them and knowing the difference will help you choose the right marketing strategy for the right purposes.
What is Brand Marketing?
Brand marketing is a popular marketing strategy where you create a narrative out of your company’s vision—how you started, your goals and what you have to offer to your customers—and market this cohesive narrative across different platforms, products and services.
Brand marketing works really well because people remember stories and relate to characters, so by weaving a compelling narrative that unifies every aspect of your business, you’ll be able to establish your company’s presence more quickly.
What is Product Marketing?
Product marketing is a traditional marketing strategy that focuses on specific products and services and guides customers in understanding how what’s being sold meets their needs.
Product marketing works by hooking consumers with the unique features of what you’re trying to sell and focuses on the problem it’s designed to solve. It’s a popular strategy because it’s easier to figure out what about your company appeals to any specific audience and sometimes this can help you develop a more effective brand strategy.
Benefits of Brand Marketing
1. Customer Recognition
By making your brand more recognisable, customers who identify with your brand will be more likely to grab your product from the sea of others surrounding it. When done well, brand marketing creates widespread awareness and builds familiarity amongst consumers about your brand. This familiarity will then allow you to constantly have an edge over your competitors simply because your customers know who you are and what you stand for.
2. Compounding Loyalty
If a customer had a good experience with your brand after purchasing a product or service the first time, brand marketing will keep them coming back for more. When promotional campaigns from you appear on various media and digital platforms that continue to extend your brand’s narrative, having been a part of the narrative before will allow them to feel a sense of loyalty towards your brand.
3. Competitive Edge
But perhaps the biggest benefit of brand marketing comes from its ability to help differentiate your brand from all your competitors, especially if your company is situated in a crowded market and offers similar products and services as many other competitors.
By creating a unique personality for your company, you’ll be easier for customers to identify and relate to.
Benefits of Product Marketing
1. Customer Knowledge
While branding creates an appealing image of your business in the minds of your customers, it’s not focused on being informative or meeting very specific customer needs but on leaving them with a special impression of you. Product marketing allows your customers to know exactly what makes your product different and how it stands out from other similar products on the market.
2. Customer Understanding
Since product marketing is product specific, you’ll know over time whether the angle that you’re marketing your product is well-received by various target audiences. This is especially effective if you’re trying to expand your customer base or if you’re still not quite sure how to brand your business.
3. Customer Acceptance
And unlike rebranding, which has big implications if you already have an existing clientele, switching up your product marketing tactics is so much easier and more versatile. Plus, the metrics you receive from product marketing campaigns over time will help you to better understand what your customers like about you so you can improve your branding.
No single marketing strategy is universally superior. You need a good mix of both in order to reap the benefits of all your marketing tactics. It’s a difficult balancing act to handle, but know that success is possible! And if you need some extra help, check out our full suite of marketing services.