It doesn't matter who you are or even what business you're in. Making money is a crucial and (let's be honest) awesome part of owning and/or operating a business.
If you're like me, you're constantly keeping your eyes and ears open to the possibilities of making more money, or even just utilizing particular strategies that have worked wonders for yours or another business in the past.
But sometimes it's worth taking a deeper dive into the tried and true marketing efforts to find out what is REALLY working and what isn't, plus what tactics could yield a higher ROi.
Today, we're going to be taking an in-depth glance at both marketing and advertising to find out which one will actually make your business more money in the long run.
Are you ready to get started? Let's go!
Marketing and Advertising: What's the Real Difference?
It's no secret that the words and "lingo" surrounding social media marketing can quickly become more than a little complicated. By now, if your head isn't spinning with a constant barrage of words like "social strategy" and "click-through rate", there's a good chance all of the data you pull from your marketing and advertising campaigns will get it spinning.
Besides, what's the difference between marketing and advertising for real? Is it really better to have both of them VS just one or the other? Let's check it out.
What is Marketing?
Marketing is, in essence, every step you take to get your brand name out there. From analyzing the data, to planning a strategy, to implementing the strategy and analyzing every sliver of data you can from that effort, it's a Ferris wheel of analyzing, planning and implementing.
What is Advertising?
So to be honest, this is really just a piece of a larger puzzle that is marketing. Advertising is a tool you can utilize in your marketing strategy, and thinking only in terms of black and white, or even one or the other is just a little foolish. Why? Because advertising is a critical marketing component.
Think about it: if the point of marketing is to get your brand name out there, then a brand awareness advertising campaign would be a PERFECT tool in your box of tricks.
"Is Social Media Advertising More Effective Than Traditional Marketing?"
There's no questioning the fact that social media advertising is wildly effective. But is it more effective than traditional marketing?
Advertising experts would say that you really want to utilize BOTH options, but it also depends on what crowd you're shooting to attract. And in our current social media age, I would definitely say that utilizing it above traditional marketing, (again, depending on your audience) is your best bet for exhilarated growth.
"What is the Best Method for Approaching One Over the Other?"
Like I said before, advertising is marketing. So prioritizing one over the other is just silly. However, if you don't have the money for an advertising game, do what you can with what you have and marketing organically to build up your stamina and budget.
Market Research is Everything
Nobody said you had to have a big elaborate marketing and social media advertising campaign to have any sort of success. However, if you take the time to conduct plenty of market research and find out how you can best reach your audience and what platforms you can reach them on, you'll have a much easier time saving your money for the efforts that count. The ones that will REALLY make a difference in the grand scheme of things.
"How Do I Integrate Advertising into my Marketing Campaign?"
It can get sticky if you've never done any advertising before, but even if you have, knowing when and where to bite the bullet can be excruciatingly worrisome.
This is where market research can also be valuable.
However, some quick tips: your advertising campaigns should always first and foremost be memorable and build brand recognition. Informational and educational is the next crucial step and lastly, creative.
You want your ads to stand out if they're going to be successful.
"So Which Route is Gonna Make Me More Money?"
The only real answer is that you need both to realistically have a successful marketing campaign that's going to bring you the big bucks!
Do You Need Help Giving Your Business a Push in the Right Direction?
We have the expertise. We have the tools. We have the creativity. We have the time and we have the key to marketing and advertising success across the social media galaxy.
Let's get in touch and Let's Get Social! Are you in?