by admin - 5 May 2021

You have started your business or already running a business, but can you call it a brand? Can the words business and brand be used interchangeably? This question might be lingering in your mind, and when you ask this question to 10 different people, you will get 10 different answers. A whole lot of branding is involved in bringing out a brand from a business. Here we give you a broad overview of how is a brand different from a business.

 
 
What is Business?

Business is an organization, company or enterprise that you build to make money by manufacturing or selling products. A business gets started to earn profits, or it could be a non-profit organization too. Your business can range from a sole proprietorship to a partnership, small-scale or large-scale business.

 
 
What is Brand?

If you search ‘what is a brand’, you will get varied answers like a brand means a company’s name, logo, design, etc. Some also explain brand as the type of product they manufacture, etc. A brand is something far from the mere visual elements. Your brand is the perception built in the audience about your company/individual. Branding gives your targeted audience a sense of your mission, vision, purpose and establishes a credible and trustworthy connection.

 
 
DIFFERENCES BETWEEN A BUSINESS & A BRAND

1. Business is something Internal while Brand if Your Public Face

   Your business outputs products and revenue. Your brand outputs trust and emotional connection. Your business brings consumers while your brand builds community. Your business is registered in invoices while your brand gets registered in the minds and voices of people.

 

2. Branding Distinguishes You from Your Competitors

   Whatever industry your business deals in, you will have competitors. Competition lies in the soul of the market. When there is competition, there is fair business. In order to outperform the competitors, every business tries to offer the best deals to the consumers with the best-in-class service so that consumers stay with them rather than migrating to others. Thus competition in the market brings favorable results for the consumers.
   One thing that can distinguish you or your business from that of your competitors is the brand that you build, the perception that you build among the audience. For instance, let’s consider the American brand Xerox Corporation. Whenever you wish to take a photocopy of a document, you literally tell, “I want a Xerox of this document.” Xerox has become synonymous with photocopies that you hardly are aware of any other opponent in the photocopier market. That is the result of effective branding that people forget your competitors. Effective branding makes your company/products stand out from the competition.

 

3. Brand Establishes Credibility

   Brands establish a trust factor with the audience that makes the audience’s favorite choice. The best example of establishing brand credibility would be the Apple brand. There are many so smartphone companies available in the market that still people crave for Apple phones. The recent models of iPhone do not even come with a charger, yet people opt for it. There are great features offered by smartphones of other companies as well, still, they long for Apple phones. Why? That’s the positive perception and credibility that Apple has created among the audience for its products.

 

4. Brand boosts the Conversion Rate of Your Business

   When you build a positive perspective of your business among the people and when they trust your brand, the conversion rates of your business boost, as already seen in the above example.

 

5. Business is B2B or B2C, Brand is B2H or H2H

   While business is intended to board consumers and make profits, the brand looks to build a trusted connection with people. When you sell a product, you are into business. But when you attach an emotion to your product, you become a brand. The brand understands and responds to consumer pain points serving them with personalized experiences. When you feel emotional, motivated or happy by a company’s ad or visual designs or content, you are probably interacting with a brand rather than a business.

 
 
Your business is the initial gateway that gives way to a brand. And your brand is the ultimate ladder that accelerates your business to the higher altitudes of success. While people can forget your business or find hundreds of alternatives, your brand will steer into their minds forever. If you wish to build a brand out of your business or build a personal brand, connect with us at https://entitledarts.com We have been helping several clients across the globe with their digital transformation and branding.