{"id":27314,"date":"2020-09-10T08:00:00","date_gmt":"2020-09-10T12:00:00","guid":{"rendered":"https:\/\/honeybook.site.strattic.io\/?p=27314"},"modified":"2022-07-28T14:09:46","modified_gmt":"2022-07-28T21:09:46","slug":"the-difference-between-a-brand-and-a-business","status":"publish","type":"post","link":"https:\/\/hbb.dev.reliablepenguin.com\/blog\/the-difference-between-a-brand-and-a-business","title":{"rendered":"The Difference Between a Brand and a Business"},"content":{"rendered":"\n

I recently had the opportunity to speak at my local chapter for The Rising Tide Society<\/a> on this month\u2019s theme of “Elevating Your Brand\u201d<\/strong>.<\/p>\n\n\n\n

Being the owner of a brand and web design studio, I get asked all the time what\u2019s more important- having a brand or a business. So today, I\u2019m sitting on my porch enjoying the firs tastes of spring, writing to you about what I believe to be the primary difference between building a brand and building a business, and which is more important.<\/p>\n\n\n\n

THE DIFFERENCE BETWEEN A BRAND AND A BUSINESS<\/h2>\n\n\n\n
\"brand-vs-business\"<\/figure>\n\n\n\n

Let\u2019s start by clarifying some terms here. The word \u201cbrand\u201d gets misused a lot and everyone seems to have their own idea of what a brand actually is. Some say it\u2019s a logo, some say it\u2019s your personality, but after several years of studying the art of branding, my favorite definition of the word was said by Seth Godin<\/a>.<\/p>\n\n\n\n

\u201cA brand is the set of expectations, memories, stories and relationships that, taken together, account for a consumer\u2019s decision to choose one product or service over another.\u201d<\/strong><\/p>\n\n\n\n

\u2014 Seth Godin<\/strong><\/p>\n\n\n\n

WHAT A BRAND DOES FOR A BUSINESS<\/h3>\n\n\n\n

You can have a business without a brand and vice versa- you can have a brand without a business. Have you ever bought something on Amazon having no idea who the seller was or anything about their company for that matter? You simply bought it because it was the best price you could find on Amazon.<\/p>\n\n\n\n

I recently bought a few packs of baby hangers for the nursery and I couldn\u2019t tell you the name of the company I bought from if my life depended on it. All I know is that a pack of 30 hangers was $9.99 with free 2-day Prime shipping. Deal.<\/p>\n\n\n\n

The drop-shippers on Amazon are a prime example (see what I did there??) of a business without a brand. I have a couple of friends who own VERY successful drop-shipping businesses and make a ton of money doing it, and you know what- they spend zero time or money on branding.<\/p>\n\n\n\n

But unless you\u2019re killing  in the drop-shipping business, here\u2019s why you might want to consider building your brand.<\/p>\n\n\n\n

\"brand-vs-business\"<\/figure>\n\n\n\n

A BRAND IS…<\/h3>\n\n\n\n

What causes someone to pay a premium for one product over another.<\/strong><\/p>\n\n\n\n

The hangers worked out great but you know what I didn\u2019t order off of Amazon? My running stroller.<\/p>\n\n\n\n

This isn\u2019t meant to be a baby post by any means but it\u2019s the most relevant example I can give you because for the last several months, I\u2019ve found myself searching online for the best brands to buy for my baby.<\/p>\n\n\n\n

So back to my running stroller\u2026 I ended up going with the BOB Rambler<\/a> (not sponsored) because I bought into their brand<\/strong>. This is by no means an inexpensive stroller (shoutout to my wonderful aunts and cousins who purchased this for my baby shower).<\/p>\n\n\n\n

On the flip side, it\u2019s quite expensive and I\u2019m sure there are hundreds of other jogging strollers on the market that would have cost much less. But I was willing to pay a premium <\/strong>for the BOB brand. And I know you\u2019re doing it too.<\/p>\n\n\n\n

HOW A BRAND ADDS VALUE TO A BUSINESS<\/h3>\n\n\n\n

Your brand is made up of several things. I put together something that I call, \u201cThe 5 \u2018C\u2019s of Branding\u201d.  In a nutshell, here they are:<\/p>\n\n\n\n

  • The Cure<\/strong>– Your brand is the cure to someone else\u2019s pain-point or problem. Every successful brand has this at its core. They are solving a problem for their customers. (BOB is solving my problem of not wanting to hassle with a clunky stroller when I go for a jog with my baby. They sell a lightweight, safe, and beautifully designed running stroller that hit all of my checkboxes).<\/li>
  • The Content<\/strong>– In other words- your brand\u2019s message. You should constantly be communicating your \u201ccure\u201d or solution when you craft the content for your branding. In the words of Donald Miller, \u201cIf you confuse, you lose\u201d. You have to have a consistent brand message and voice that repeatedly states your cure.<\/li>
  • Consistency- <\/strong>This is one of the most critical components of branding. People don\u2019t always recognize consistency but they ALWAYS recognize inconsistency. <\/strong>Your brand should have a cohesive look, feel, and message that is repeated over and over again.<\/li>
  • Community-<\/strong> Every well-crafted brand has a community of loyal fans who will choose that brand over another every single time. Are you working to create a community with your brand? Social Media has given us a golden opportunity to do this with our prospects and customers. We can now engage with them on a daily basis and add a \u201chumanness\u201d to our business by sharing our values and personality with others, creating a more loyal fan base who can\u2019t help but share our product or service with others. THIS is how you scale your brand! By getting others to talk about you.<\/li>
  • Colors- <\/strong>Ironic that a brand designer would save this one for last, right? When I say colors, I\u2019m referring to your brand\u2019s aesthetic in its entirety. And yes, I put this last on purpose. Your brand SHOULD have a well-designed logo, a cohesive color palette, and a website to match if you want to use it to grow your business. But without the first four \u2018C\u2019s, a logo will only get you so far.<\/li><\/ul>\n\n\n\n

    WHICH ONE COMES FIRST?<\/h3>\n\n\n\n

    At the end of the day, there\u2018s a pretty significant difference between a business and a brand. I believe the most successful businesses understand the value of branding, and when done right, they reap the benefits of a loyal fan base who will pay a premium for their product over another.<\/p>\n\n\n\n

    If you\u2019re just starting out, focus on building your brand by finding a problem to solve, communicating that problem clearly through your content, showing up consistently, building a community, and developing a logo, website, and color palette that compliment your new brand\u2019s message and personality.<\/strong><\/p>\n\n\n\n

    This will set you up for success in the long run. If you already have a business (you\u2019re currently selling a product or service) but have never paid much attention to your branding, now’s the time to start.<\/p>\n\n\n\n

    Who doesn\u2019t want to be able to charge a premium for their product or service? I know I do!<\/p>\n\n\n\n

    If you need help getting started with your branding, I would love to connect with you<\/a>. If you\u2019re trying to brand on a budget, check out my template shop<\/a> that just launched and save 20% off with YAYBRANDWELL.<\/p>\n\n\n\n

    Keep branding well,
    <\/strong>Victoria <\/strong><\/p>\n\n\n\n