Brand vs Company: What’s the Difference?
As a business owner, you know you need to “build your brand.” You also need to get your company’s name in front of more people so they know what you do.
Are those the same thing? Is there any difference between your brand and your company?
The truth is there is a lot to your company besides your brand. However, it’s unquestionable that your branding is the most public face of your business.
Here’s what you need to know about your brand vs company, and how to handle both!
Your Company: The People Who Work With You
Your company is much more than an image or a brand. In fact, it’s made up of people. The simplest way to think of your company is as the collection of people that work with you.
In a small company, this is the group of people that helps ensure your primary product or service is delivered on-time with top quality.
In a larger company, there may be several products and thousands of employees. You have people in accounting, marketing, customer service, sales, management, human resources, and much more.
In fact, one of the biggest differences between a company and a brand is that some companies manage multiple brands. For instance, Proctor & Gamble is one company, but it encompasses dozens of brands from Tide Detergent to Pepto Bismol.
A Brand: The Public Face of a Product or Service
When you think of “The Golden Arches,” you know it’s McDonald’s. It’s part of their brand. A brand is the way the company puts forward its product or service to make it recognizable.
Before anyone chooses to buy something, they have to decide not to buy other options. The answer to “Why would someone pick you over a competitor” is a key component of your brand.
Domino’s stood out and became known as the brand that would get you a pizza quickly. Over time, the brand became tarnished and was associated with tasteless, low-quality food. To save the brand, Domino’s had to reinvent itself and create new corporate branding.
Companies pour millions of dollars into building and protecting their brands. How can you build a great brand for your company? Here are some ideas.
Building a Positive Brand Image for Your Product
A lot of marketers spend a lot of time being clever. They try to come up with a tagline or jingle or an ad campaign that will give consumers a reason to remember them.
However, that’s not the primary method of building a positive brand. The biggest thing you want to do to build a company brand is set yourself apart from competitors and deliver an incredible customer experience.
Setting Your Product Apart
Why should people choose you instead of your competitor? A major part of how to brand a product is communicating your value to a potential customer.
For instance, Coca-Cola commercials focus on young people having a great time. The corporate brand message is, “This drink will make your life fun.” Red Bull focuses on energy with their motto “Red Bull gives you wings.”
Of course, there are other products that make these promises, but focusing on a specific value that you deliver is the first step to creating a brand. Remember, you want something simple and easy to remember. Give potential customers a reason to try you out.
Delivering a Great Customer Experience
Once someone tries your product or service, it’s vital to wow them. You should have high-quality offerings that deliver on the promises made in your branding.
Not only should your products be top-notch, but the customer service experience should also be extremely high-quality as well. If someone decides to call your restaurant to order pizza, for instance, and an employee is rude, they may never contact your store again.
If someone has questions about your SaaS product, and your customer service is not knowledgeable or they can’t figure out how to contact someone, they will move on to an easier-to-use option.
Make sure your employees, at every level, understand the role they play in creating and building your brand.
Overcoming a Negative Brand Image
Not everyone will have a great experience with your company – it just isn’t possible. Whether an employee had an off day or a customer is just hard to please, someone will be upset.
Sometimes these are one-off experiences and you don’t have to worry about the impact to your brand. Other times, as with Domino’s, your quality has really gone downhill and you need to make a recovery.
Domino’s took the bull by the horns, running ads that showed customer comments regarding their low-quality pizza. The CEO was on the commercial, taking responsibility and vowing to make it different.
The result? Domino’s once again has a good reputation, and share prices have gone from $8.76 per share to over $245 today.
You may not be able to overcome a bad brand image on your own. You may need a professional marketing firm to help you manage your reputation, respond to online mentions, and craft a strategy to turn your brand around.
Brand vs Company: Final Thoughts
In the end, a company is the people who work with you and a brand is the public face of your products or services. Some large companies have multiple brands.
However, knowing the difference between a brand vs company isn’t the end of the story. It’s important to build and manage your brand over time.
Are you looking for help creating a strong brand for your products and services? We’d love to help. Contact us for more information today!