The difference between a class method and an instance method is that an
instance method requires an instance of the class on which it will
(generally) operate. The message to invoke an instance method must be
sent to an instance of a class.
Probably the most common single use of class methods is object
factories; messages that you send to a class to create an instance
configured according to the parameters you've sent in. For example in
Cocoa the NSString class has several class methods named
stringWithSomethingOrOther: that will create a new NSString object and
hand it back to you.
On the other hand, NSString also has many instance methods -
operations which really have no meaning without an actual instance to
work with. A commonly-used one might be the length method, which tells
you how many characters are in the specific NSString instance to which
the message is sent.
Also see this.
What is the difference between class and instance methods?