Marketing vs. Advertising: What’s the Difference?
Imagine you’re watching tv and a commercial for the newest exercise bike comes on. You pick up your phone and pre-order immediately. This company has great advertising. Their advertising for the new product was driven by effective marketing. Wait, what’s the difference in their advertising and marketing?
Marketing & advertising are similar in many ways – both aim to promote a product or service, explain value and ultimately increase sales. Yet they serve very different purposes for businesses, in fact, advertising is simply a support function of marketing. Let’s dive deeper…
What is Marketing?
Marketing is understanding the market, the six P’s- product, price, place, people, promotion and process. To achieve success for your brand, you must work through each of these pieces.
Start by asking yourself the following questions:
- Who is this product targeting?
- What is the product?
- When will this product be available?
- Where will this product be sold/available?
- Why will this product be a solution to the consumer’s problem?
With your answers you can strategize how to market this product to your audience, advertising!
Types of Marketing
The marketing world can get a little scary when you begin looking at ‘types of marketing’. Each type serves a purpose and can help you achieve your goals differently. Determining what is best for your business will ensure your success.
- Inbound Marketing: focuses on drawing customers in, not interrupting them. Once the potential customers arrive, you greet them with your expertise & begin creating a relationship.
- Digital Marketing: utilizes all digital platforms to engage with potential or new customers. Such platforms could be social media, email, & the internet.
- Social Media: promotes your product through social media platforms such as Facebook, Instagram, Twitter, & LinkedIn. When using this method, remember what audience you are trying to target & which platform would be most appropriate.
What is Advertising?
Advertising is a support function of marketing, in fact it’s often the most expensive. Advertising is when you make your (well researched) product or service known to it’s target audience.
To determine your channel & scope for advertising, ask yourself the following questions:
- Where can you reach your target audience?
- What is the value proposition?
- What is your desired brand image?
- Who are your direct & indirect competitors?
- What is the goal of this advertisement?
Your team is now ready to develop your strategic message and sell, sell, sell!
Types of Advertising
There are numerous channels you can use to advertise your business, we know this part can be daunting! Check out some of the industry standards below:
- Print: Can be seen in magazines, newspapers, posters, flyers, & all physically printed advertisements. Print advertising is one of the more traditional methods.
- Public Transportation & Billboards: Another form of print marketing that yields a different effect on a consumer. These ads must be simple yet engaging because they are only seen for a short period of time by your audience.
- Digital/Online: Today, digital & online advertising is more common because it is the most effective way to reach people. Digital & online advertising are seen through social media, emails, search engine marketing (SEM), & display advertisements.
- TV/Radio: Traditional advertisements seen during tv commercials & heard on the radio.
Did you know that Google AdWords only began in 2000? Or that Facebook began ads in 2007? Now Google & Facebook represent around 60% of online global ad revenues. The way we market and advertise is ever evolving which often excites quite a few of us nerdy marketing junkies!
As a new business owner, a veteran in the entrepreneurial space or a marketing extraordinaire, it’s crucial to understand how marketing and advertising work hand in hand. As you work through your strategies check out a couple of our other blogs – The Buyer’s Journey: A Step-by-Step Process and 5 Steps to Ensure a Successful Website Redesign.