Report: Brand more important than ever in an age of decreasing trust

Trust is in decline but savvy brands can still grow according to the latest Interbrand list of best global brands

The role of brand is more important and valuable than ever and is key to accelerating growth, particularly when an overall sense of trust is in steep decline.

This is the finding of the Interbrand 2018 Best Global Brands report, themed around 'Activating Brave', released this week. The latest list found Apple, Google and Amazon are the three most valuable brands, with luxury and retail as the two dominant sectors.

According to Interbrand, key to brand growth is understanding the personalised needs of customers, creating useful products and services, making brave decisions, innovation, and growing the role of brand. The report stated: "Leading brands are driven by their desire to be useful, to create products, tools and services that actually solve customer problems, and to use their marketing to serve and not just sell."

Those brands that focus principally on ‘Positive Utility’ to drive their businesses had a five-year growth rate of 14.3 per cent per annum, compared to 2.3 per cent for those that largely rely on storytelling to shape their brand. Brands are also winning by offering the most frictionless ways to leverage their products and services based on the personalised needs of their customers, and the brands generating the most stable growth over the past 10 years are those with the highest overall scores on  'Relevance' and 'Responsiveness'.

Leading brands are also co-creating solutions with their customers, bringing the voice of the customer into every aspect of their business, and investing in future-forward customer exploration.

Brands who grew their 'Role of Brand' over the past five years have achieved brand value growth rates 2.4 times higher than those brands which didn’t.

"Being truly customer-centric today means going deeper than just offering a product or service that the consumer wants, and truly recognising how consumers think, feel and behave, and then delivering the most optimised experience possible across each and every consumer touch point," the report stated. 

The five top growing brands in 2018 are Amazon, Netflix, Gucci, Salesforce.com and Louis Vuitton (23 per cent). After five years as the top growing brand, Facebook declined six per cent.

For six consecutive years, Apple and Google hold the top positions. Apple’s brand value grew by 16 per cent, and Google’s by 10 per cent. Amazon achieved 56 per cent growth and is the third brand to reach a 100-billion-dollar brand valuation (USD $100,764m). Following Microsoft at number four is Coca-Cola, then Samsung, Toyota, Mercedes-Benz, Facebook and McDonald’s.

The list features two new entrants and three re-entrants: Spotify at 92, Subaru at 100, Chanel re-entered at 23, Hennessy at 98, and Nintendo at 99.

“A decade after the global financial crisis, the brands that are growing fastest are those that intuitively understand their customers and make brave iconic moves that delight and deliver in new ways,” said Charles Trevail, global chief executive officer, Interbrand.

The report said those that have achieved the greatest growth have all pulled on different dimensions of their brand to succeed. "Amazon has seen its average brand value grow by 36 per cent every year over the last five years, in part by continuing to diversify its offer, with relevance driving the increase," the report stated.

"PayPal has seen its Brand Value increase by 56 per cent over the past three years by focusing on acquisitions to drive greater Presence.

The report analyses how the best global brands are achieving bold transformation that drives lasting economic value through brand strength. Key trends include customer centricity, positive utility, the rise of luxury, and the success of subscription models.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+:google.com/+CmoAu

 

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Latest Videos

Launch marketing council Episode 5: Retailer and supplier

In our fifth and final episode, we delve into the relationship between retailer and supplier and how it drives and influences launch marketing strategies and success. To do that, we’re joined by Campbell Davies, group general manager of Associated Retailers Limited, and Kristin Viccars, marketing director A/NZ, Apex Tool Group. Also featured are Five by Five Global managing director, Matt Lawton, and CMO’s Nadia Cameron.

More Videos

The best part: optimizing your site for SEO enables you to generate high traffic, and hence free B2B lead generation. This is done throug...

Sergiu Alexei

The top 6 content challenges facing B2B firms

Read more

Nowadays, when everything is being done online, it is good to know that someone is trying to make an improvement. As a company, you are o...

Marcus

10 lessons Telstra has learnt through its T22 transformation

Read more

Check out tiny twig for comfy and soft organic baby clothes.

Morgan mendoza

Binge and The Iconic launch Inactivewear clothing line

Read more

NetSuite started out as a cloud-based provider of Enterprise Resource Planning software or as NetSuite solution provider, which companies...

talalyousaf

NetSuite to acquire Bronto's digital marketing platform for US$200m

Read more

Thanks for sharing this post, its really good information I get through this blog.CDPO Online Exam Training

Infosectrain01

3 ways Booking.com is improving its B2B marketing game

Read more

Blog Posts

Getting privacy right in a first-party data world

With continued advances in marketing technology, data privacy continues to play catchup in terms of regulation, safety and use. The laws that do exist are open to interpretation and potential misuse and that has led to consumer mistrust and increasing calls for a stronger regulatory framework to protect personal information.

Furqan Wasif

Head of biddable media, Tug

​Beyond greenwashing: Why brands need to get their house in order first

Environmental, Social and (Corporate) Governance is a hot topic for brands right now. But before you start thinking about doing good, Craig Flanders says you best sort out the basics.

Craig Flanders

CEO, Spinach

​The value of collaboration: how to keep it together

Through the ages, from the fields to the factories to the office towers and now to our kitchen tables, collaboration has played a pivotal role in how we live and work. Together. We find partners, live as families, socialise in groups and work as teams. Ultimately, we rely on these collaborative structures to survive and thrive.

Rich Curtis

CEO, FutureBrand A/NZ

Sign in