Businesses and individuals worldwide will remember 2008 as a year of financial hardship, rising unemployment and uncertainty.
In such times, businesses and consumers alike turned to the brands they trusted, the brands that portray confidence and deliver consistency. An article from Interbrand published in BusinessWeek discusses global branding and outlines the top 100 brands in 2008.
In contemporary marketing, what factors contribute to a successful and globally recognised brand?
1. Brands that embrace and that are distributed over the internet have the ability to rapidly accelerate their business. Customers want to be involved in your brand, customers want to know what your brand is doing. Technology can assist by allowing customers and brands to engage and interact on a more intimate level than ever before. Twitter, Facebook, YouTube and Blogs should be your new allies in the branding war.
2. Branding is all about remaining relevant and ensuring that your company is actively listening to what consumers want, analysing what the competition are doing and pro-actively seeking ways to remain market leaders in terms of innovation and forward thinking. Successful brands can react to marketplace trends and renew, reinvent and ‘rebrand’ their organisation to capitalise on a shifting market direction.
3. With increased competition worldwide, successful brands need to retain their customers and develop long lasting relationships. Successful brands are created by outstanding products or services, or through an organisation’s stability and long standing position in the marketplace. The emphasis a brand places on customers is paramount since, without customers brands are irrelevant.