Interbrand’s 2008 List of Best Global Brands Reflect the Challenges and Opportunities for Businesses

Posted on February 2, 2009 by Josh Barker

I love reviewing Interbrand’s yearly list of the best global brands. I think it paints an accurate picture of what’s going on in the economy, how certain industries are affected, and how and why some companies have continued to thrive despite harsh conditions.

First off, the top 10 brands of 2008 were also the top 10 brands of 2007, with the exception of Google (who jumped from the 20th position to replace Mercedes Benz).

1. Coca-Cola
2. IBM
3. Microsoft
4. GE
5. Nokia
6. Toyota
7. intel
8. McDonald’s
9. Disney
10. Google

The complete list of the top 100 brands can be found here.
http://www.interbrand.com/best_global_brands.aspx

The credit market affects financial institutions differently
Citi and Merrill Lynch both fell significantly from 2007 to 2008 (22nd position to 34th position and 11th position to 19th position, respectively). However, Visa’s and American Express’ brand values rose due to their trusted brands. I believe this has a lot to do with how consumers see these companies. For the most part, consumers saw the credit market debacle as a fault of the lending institutions. Credit card companies were able to maintain brand value, not only through continued brand communication, but because of the physical relationship consumers have with their credit cards. What’s in your wallet right now? – Mastercard, Visa or American Express? We love to use credit cards and the convenience they give us.

Sustainability leads and valued brands
Companies that are on the forefront of sustainable initiatives held strong on Interbrand’s list. Honda was the only car manufacture to report better sales in June 2008, than it did last year. GE and BP increased their brand value over 2007 by investing in sustainable business practices. BP has invested heavily both in internal processes and direct consumer communication.

Companies that are delivering green products and sustainable business practices will continue to increase brand value in the future because that is what the market demands.

These are the two aspects that caught my eye when reviewing Interbrand’s Top 100 Global Brands. A couple points small and medium-size businesses we can learn from this are:

  • Perception is reality. If people have an inaccurate perception of you – you must work to change your brand. For example, financial institutions like Merrill Lynch need to transcend the “financial lending” market and position themselves to better relate to consumers and to expand their value. Pro-active marketing to address head-on the brand challenges is a great way to fend off negative brand perceptions.
  • What is good for the environment is good for your business. Innovative products and citizenship holds great value with consumers.

Now is the time to re-position your company so that your customers see the value in choosing you. Brand Iron can help you with brand positioning and communicating what you do. You have the power to influence the decisions your customers make. Make sure your brand is putting you in the best light possible and is creating a good and memorable customer experience.

Written by Josh Barker

Posted in Brand Strategy, Brand Strength, Branding, Consistant, InterBrand, Marketing, Recognition | Tagged , , , , , , | Leave a comment

Survival of the Fittest

Posted on July 18, 2008 by Chris Schindler

As gas prices hit over $4.00 nationally and the economy continues to fall, it is inevitable that people and companies are struggling. That said, it is even more vital to measure yourself against your competition, ensuring your current efforts are properly focused to set yourself and your company up for a strong second half of the year. Unfortunately, we are currently in an arduous game of survival of the fittest, and it is time to focus your marketing efforts.

While this conversation is a continuous topic internally, I was pleasantly surprised to find a new client that had the same ideas. I was in a planning session the other day and our client communicated that their industry was experiencing a slow-down given the economy and being that we are in the middle of the summer. They realized that it was the perfect time to position and brand themselves against their competition in order to separate themselves from the herd. This client wanted to take advantage of the current situation in which, a fair amount of companies are pulling back their spending. Our client wants to step it up and set themselves up for a strong fall and second half of the year, as well as prepare for 2009. Needless to say, I agreed with this client, and was refreshed at their goals and strategy to step up their game.

We are halfway through the year, an excellent time to review your yearly goals and objectives. See what is working, what’s not, and what needs to be adjusted in order for you to keep things going strong, maintain, or try to catch up. Going strong is the key phrase, while playing the game of catch up seems to be the reality for too many companies today.

A perfect example of the “catch up game,” was when American Airlines and United announced they were going to charge $15 and $25 respectively, for checking bags. While these airlines are trying to play catch-up, Southwest is focusing its efforts on marketing, sales and operations to boost sales and keep customers happy. They are responding directly to the competition and the consumer by announcing that they aren’t charging premiums for extra baggage and rising fuel costs.

The summer is a slower period and many people take time off, thus creating a great opportunity to not only look at your goals, but figure out how you can position yourself against the competition. Take advantage of the tough times and really separate your company from the herd by communicating your key differences and why you are a better choice than the competition.

Now is the time to evaluate, focus, and take advantage to be the fittest. If your company wants to be around when the economy turns around, call Brand Iron today.

written by Michael Doyle, President of Brand Iron

Posted in Brand, Brand Strategy, Brand Strength, Branding, Clients, Consistant, Holistic, Holistic Branding, Marketing, SMO, Sales | 1 Comment

"My name is ________"

Posted on October 3, 2007 by Chris Schindler

A popular theme song goes, “Sometimes you want to go, where everybody knows your name.” This is the precise recognition that all companies are trying to accomplish through their marketing and advertising efforts. Companies like Brand Iron are here to make sure those efforts are well-focused and drive results. I just got off the phone with a client who now understands the effort it took to get his brand over the “everyone-knows-our-name” hurdle. Every brand has a different hurdle to clear, but here are some simple ideas on what it might take to get your brand over the hurdle, and start producing tangible results:

1. Understand what really separates you from your competition. Figure out what space you own and make the message as simple to understand as possible. Package your message in a tangible fashion that is clear and concise.

2. Identify who the right targets are for your product or service and discuss the most effective ways to get your message out.

3. Take a look at your company and see what the “barriers to growth” may be. Be sure to look at your:

Marketing- Do you have enough contact points with your target audience for them to know who you are and will they be receptive when you call? Do they know who and what your brand is all about? Does your brand leave them with a positive feeling that will compel them to make that purchase?

Sales – Can your sales staff close the leads the marketing department is generating? Can they close the customers that walk through your doors?

Operations – Is your customer service approach and database up to snuff? Can your company deliver on the promises that your sales team is making?

4. Address your internal brand and make sure that your company’s brand is represented from the inside out. Look at everything from how you answer the phone to delivering your service, or even how you receive payment and send out a bill. These little things matter a great deal and will leave a lasting impression.

5. Develop a holistic branding plan that integrates your company’s marketing, sales and operations. Map out the tactical items necessary for you and your company to fill up your sales funnel.

6. Execute your branding plan flawlessly, ensuring that you are going to execute on a regular basis, no matter how busy you become. You want to do this to avoid the sales rollercoaster.

As a close friend says, “Go the extra mile; it’s the final 5%
that makes what you do either great or mediocre.”

7. Monitor how you are doing against your goals and objectives and modify those things that aren’t working. Once the failing areas are identified, determine how you can rectify the situation and do it quickly.

8. Execute and get your entire organization to commit to succeed.

Follow these steps, and someday you might walk into a place and realize that everybody knows your name.

Posted in Brand Strength, Branding, Consistant, Corporate Identity, Holistic Branding, Marketing, Operations, Recognition, SMO, Sales | Leave a comment