The international financial giant Credit Suisse has just published a nearly 300-page opus on the power of brand investing. The gist of it is this: Companies that take their branding seriously perform better financially. Their team of global analysts have identified three key ingredients for brand success (in addition to spending an appropriate of money in advertising, 2% of sales or more). And while not every company can be an Amazon, Apple, Tiffany, or Trader Joe's, we all can incorporate the three key elements that make these names some of the 27 great brands of the future (see below for the complete list).
In particular, the report identifies these brand "must haves:" authenticity, quality product, a strong core market, operating in a brand-friendly industry (well, not much we can do about that one), and developing a brand-centric corporate culture. Beyond these prerequisites, there are three core attributes that alone or in combination make a brand great and build incredible value:
1. ASPIRATION
Does your brand stand for the highest quality? The most valuable resource? The most knowledgeable people? Position your company, product, or service as "aspirational" like BMW or Four Seasons and, if you can pay it off in terms of authenticity, you add demonstrable value to your brand.
2.INNOVATION
Do things differently. Think of new ways to approach your market. And most of all, communicate that spirit of innovation, both verbally and visually, in your marketing and advertising like Apple.
Can your deliver on your brand's promise across a spectrum of services? Can you grow along with your customers? Leverage your control through the supply chain like Coke or through connections with members like Facebook.
Great brands, like beauty, are in the eye of the beholder. What are you doing to build your brand in the minds, eyes, and hearts of your customers?
The 27 Great Brands of the Future:
Alibaba.com (Chinese B2B eCommerce site), Almarai (Middle Eastern dairy brand), Amazon, Apple, BIM (Turkish discount food retailer), Capitec (South African retail bank), China Merchants bank, Comac (aircraft), Enfamil, Facebook, Hyundai Motor, Indian Hotels, Julius Baer, Li Ning (Chinese athletic footwear), Mahindra & Mahindra (Indian truck and tractor brand), MercadoLibre (Latin American online consumer marketplace), Mercedes-Benz, Polo Ralph Lauren, Sonova Holding (European hearing aid brand), Swatch, Tiffany & Co., Tingyi (Chinese food maker), Trader Joe's, Tsingtao Brewery, Under Armour, Uniglo (Japanese apparel manufacturer), Yakult Honsha (Japanese priobiotic drink)
