When it comes to building a "brand" versus building a "business", there is usually some crossover, but the process for each is vastly different and often misunderstood. Building a business is sales-focused, whereas building a brand is community-focused. A business is an organisation or enterprising entity engaged in commercial, industrial, or professional activities. However, a brand is a more comprehensive representation of your business, the identity associated with it, its ventures, and its community. At a fundamental level, this identity stems from the business's Brand DNA, the strategic message and core idea guiding you communicate with the world.
A business is sales-focused, a brand is community-focused
Your business's main objective is to make a profit. A brand's main objective is to create a loyal following. This community can directly result in sales as a brand begins to impact a business. To grow your brand, you should focus on activities delivering value, engagement, recognition, and reach instead of sales or lead generation.
Your brand DNA creates an identity and association with your business that people can relate to and recognise. Building a brand involves developing a single concept or idea that represents you. Building a business may include expanding products or services.
[Related: 5 Ways To Build Your Brand DNA]
A brand is larger than a product
A brand is more than making money or offering new products; it's about how you make people feel. Take Coca-Cola for example; the product is not the main focus; instead, the marketing sells the experience that evokes feelings of joy and happiness among the consumers. The Coca-Cola brand's solid public perception and sentiment comes from its brand DNA.
The "share a Coke" campaign, famously depicted in Coca-Cola commercials, symbolises community and connection among those who love the brand and its products. "Share a Coke", which first launched in Australia in 2012 and has since rolled out in more than 50 countries, invites fans to find their names -- and the names of family members, friends, coworkers and people they'd like to know better -- on bottles of Coke, Diet Coke and Zero across the U.S
Campaigns such as these can strengthen the relationship between customers and products and ensure the customers remain interested and engaged. Coca-Cola demonstrates a prime example of how business and brand work together to deliver sales and a positive and memorable company image.
A "true" brand can't be taken away from you
Your business may not deliver massive sales, but a brand is a different asset. You never have to worry about losing or having your brand stolen since it expresses your values, beliefs, and goals rather than a tangible offering of products or services. Products and services may change, but a solid brand DNA remains.
No matter what happens in a market, a brand can survive. A brand is not just tangible items or entities. It is an idea that influences the way people feel. Building and nurturing your brand and not just your business is essential.
Invest in building your brand
As a business owner, your brand and business growth is essential for reaching your goals. Your business can meet the needs of the community that your brand has created. At the same time, your brand can help to reach more people who can benefit from your business. Although these two concepts can work independently, the most successful companies dedicate time and investment into building a strong brand DNA.
I'm committed to supporting companies thinking about building brand DNA, people who want to build deeper connections with their customers and stand out, and even those who dare to disrupt. If that is you then I'd love to hear from you. My email is email@example.com, or you can visit STUDIO AZAM to learn more about what we do and how we can help.