The best brands of the world stand out among their peers and competitors throughout each industry. So what makes a brand one of the best in the world? And which brands are currently at the top of the food chain? Here’s a rundown.
What Makes a Brand Powerful?
There are a lot of different things that make a brand powerful. Their value and revenue, for one, are strong indicators. For example, certainly if there were a site in existence that sold and shipped items similar to Amazon, and they were in fact of higher brand value, we would know their name. Further, we would know they exist. Most people, however, couldn’t name many companies that do something similar to Amazon, because most that do don’t have the same level of revenue.
Another detail that determines a brand’s power is its industry. Brands in certain industries perform stronger than brands of other industries. This is evident in the most successful brands today, as the top brands are almost all from the technology industry (Amazon, Google, Facebook, etc.). Other industries that house top brands are typically things like restaurant/food/beverage, automotive and retail. With all this in mind, it’s safe to assume you’ll see competing technology companies at the top but won’t see many competing automotive brands at the top.
What Are the Best Brands of the World?
Using the above criteria, it’s safe to come up with a list, essentially, of the best brands of the world. These are brands that are thriving financially, are recognizable and are from the industries that produce the world’s top brands. Note that these will inevitably change and are somewhat subjective. However, the base understanding of selecting these brands is that there are certain criteria met in this process.
To avoid cluttering this section with an abundance of brands, I’ll limit it to five. This ensures everyone has a firm understanding of what’s succeeding in the world at the top. Furthermore, I’ll list the following brands in no particular order, since they’re fairly interchangeable to a degree. Based on the evidence available, the best brands of the world are Apple, Google, Amazon, Microsoft and Facebook. Note that all of these brands fall under the technology industry. This isn’t by design to prove my criteria, it’s simply a reality of the time in which brands exist. Now, what can we take away from all of this?
Some Key Insights for Your Own Brand
We don’t choose our brand’s industry, so this aspect of success doesn’t offer much in terms of creating a powerful brand reputation. We can, however, take away quite a bit from the succeeding industries and why they are successful. They’ve essentially dwarfed other industries in terms of necessity and popularity. It’s fairly obvious that this is because they found a need and met that need better than others could. For example, Amazon was once clearly inferior to Walmart. However, they changed that with innovative shopping methods. Though this is just one example and it might be completely irrelevant to you, the main principles still apply. Whichever industry you’re in, seek to find ways to differentiate, even if it’s over brands from the same industry.
Certainly, it’s no revelation that revenue is directly tied to brand success. It’s also simplistic to suggest a company can directly control their revenue and increase their brand value by choice. They can, however, focus on things that will boost it. Research the many ways brands succeed through customer interaction, advertisements and marketing. Learn how they stand out among competitors. This type of analysis will give you a huge edge.
With all this in mind, continue to focus on your own brand and its relevance in the market. Furthermore, follow up on which brands are trending upward or downward. Remember that this list is bound to change and it’s important you’re on top of it when that happens.