The Difference Between Branding and Marketing
BRANDING is your story. It’s what connects people to your unique message and abilities and how they solve their unique and critical needs. To have a successful brand, to stand out from the crowd of advisors – your difference has to be seen as better and relevant to your ideal client audience. How your uniqueness solves their problems (known or unknown), is the only message that matters to your prospects – why you – why them.
Not every advisor understands their strengths, opportunities for them to be seen as different and then what that difference means to their ideal client audience. Your brand needs to be developed in a way that makes a real impact in your business. Branding enhances your ability to attract “quality of leads” and makes branding measurable.
MARKETING is the strategy and delivery of your brand message. It’s a process of attracting, engaging and influencing ideal prospects.
Your advisor marketing strategy should answer four questions:
1) how will I get noticed,
2) what message will resonate with them,
3) how do I inspire action, and
4) how to I convert them into clients/advocates?
Marketing ROI is measured by lead “Quantity” divided by the cost and effort it took to produce them. Branding ROI is measured by the lead “Quality” or profitability.
Well-branded advisors attract and convert better clients.
Once you’ve listened to the podcast – go here for a video by Kirk plus a good infographic on the subject.