Nothing has impacted the way in which we think about marketing quite as much as social media has over the past decade or so, and with this comes the realization that we have been looking at branding from an archaic approach. No longer is branding about developing a relationship with consumers but, in effect, your brand ‘is’ your relationship. If you are going to build any kind of following whatsoever, your brand needs to be about the special relationship you have with your target audience.
A Look at the Evolution of ‘Brand’
If you were to take a few moments to think about what the word brand means and where it came from, you’d probably work your way back to the days when ranchers began ‘branding’ their cattle. This was a definitive mark that proved, beyond a shadow of a doubt, that any particular branded animal belonged to that ranch. A brand back then was a mark indicating where the product came from. Branding was an external feature indicating ownership of an idea or a product. However, there has been a shift that has fundamentally changed the way in which branding works within today’s society.
Today’s Business Is Rooted in Relationships
Those who study business administration are being taught the new paradigm for understanding brand. Today’s business is rooted in relationships and if you are going to develop your brand you need to focus on how you engage with your audience. That’s the essence of branding as taught in major schools of business around the country, such as the D’Amore – McKim School of Business at Northeastern University. From on campus MBA curriculum to online MBA programs, a huge part of business administration is focused on how you are perceived by those you do business with. Did you know that marketing is also a central focus of many online MBA degree programs? Without marketing, a business is often doomed to failure.