Via Brandchannel & Interbrand, an interesting list of five management traits that are employed by leading global brands.
Seek out insights:
Outstanding brands identify customer insights. When these insights are shared across cultures they assist in a brand’s adoption globally.
Integrate local intelligence:
Brand guidelines are tremendous tools for ensuring consistency. However, they have been known to impede innovation and diminish relevance. Brands are dynamic, never static, so the management of them must integrate new thought. In the case of global brands, to assume that one message can appeal uniformly to all audiences with equal relevance is unrealistic. Well-managed global brands cull local markets for intelligence related to the ‘next big thing’ to ensure local relevance and to counter competitor’s moves.
Despite its dominance, Interbrand/BusinessWeek global brand league table has inherent weaknesses. This is not news to anyone who works in branding: most marketers accept that the Top 100 is an imprecise but important approximation of global brand equity.
But all this is about to change. Next month global agency group WPP will launch an alternative brand valuation league table that will directly challenge Interbrand’s calculations. The system has been masterminded by chief research officer Andy Farr and his marketing quant jocks at Millward Brown Optimor (MBO).
Here are some insights into this soon to be revealed WPP study:
- WPP’s annual Brandz survey questions more than 650,000 consumers and professionals in 31 countries.
- The results are analysed to create a combined diagnostic and predictive tool that evaluates the strength and growth potential of brands.
- Respondents are asked to compare more than 21,000 brands in 300 categories from sectors including long purchase-cycle brands, FMCG, retail and e-commerce and services.
- Each respondent is asked to evaluate brands in a competitive context from a category they shop in.
- Their responses generate scores for levels of bonding with a brand, its advantage over rival brands, brand performance and relevance to consumer needs.
- Consumer loyalty and claimed purchasing data are used to generate a ‘brand voltage’ score, indicating the brand’s potential.