Updated: 6 days ago
Having a brand has a further greater impact than both you as the business owner and the business itself. You may be thinking that they both a brand and business are identical terms, that can be used interchangeably. However, this is not the case if you are looking to create a great impact with your online business.
Knowing the differences between the two, will not only help you create a memorable impact, but will help advance opportunities that's meant for you and your business to have.
We'll first start off with the term that is the most common amongst online business owners : Business
Your Business Is Your Foundation
Your business is composed of the products and/or services that you offer. It's simply your business model to make sure that stays efficiently running.
Without a business in place, your brand won't be able to create the impact you are desiring. Before you create a brand, focus on developing clarity around your business model.
Your Brand Is Your Key To Unlock Opportunities
Your brand provides an emotional connection that builds an authentic relationship with your ideal audience. Your brand will drive personality and a voice that is empowering.
Your brand creates the uniqueness needed to stand apart from all of your niche/industry competitors. When you have a brand, you minimize the competition and eliminate the need to compete on price.
Create an Authentic Personal Connection
Scientifically speaking, the majority of people will buy products/services based on emotional triggers. Whatever feels 'right' to a consumer at the moment, that will influence them to develop an even further connection with your brand.
Think of your favorite brands. Sephora? Target? or Apple? Is it because you know what they offer, or is it because of their visual branding? customer experience? emotional appeal?
Take Apple for an example, the majority of consumers that walks into an Apple store will prefer to buy all of their products due to the experience. This is proof that customers will pay more for a brand that they are emotionally connected with.
Price no longer remains a factor.
A Simple Summary
You now understand the simple, yet impactful difference between a business and a brand. Your business is the foundation of the products and/or services that you offer. It's your entire business model.
On the other hand, your brand provides the emotional connection needed to draw in your ideal audience. Your brand will give your business it's own personality that can't be competed with.