Interbrand’s list of the Best Global Brands demonstrates what banking can learn from brands that leverage COVID as a catalyst
In what has been the most tumultuous year of our lifetimes, one might assume that brand value would inevitably contract, along with our smaller lives. What we’re witnessing instead – as evidenced by Interbrand’s global ranking – is that bold brands are leading the way, resulting in an aggregate value of the Top-100 brands growing by 9% with total value exceeding $2 trillion. Even in a pandemic, the brands on the list collectively grew, showing that the relationship between brand strength and business performance has never been more powerful.
According to Interbrand, “It’s clear that in 2020, strong brands have become stronger as a result of the COVID effect, which has accelerated digital transformation trends, such as cloud-based tech and streaming, across sectors, reinforcing the dominance of technology-first brands.” But what does that mean, for all the brands that make up the vast majority of this list that aren’t technology-first? As it turns out, lots.
For financial brands, it’s important to note that it’s not so much the technology itself that’s making brands that top the list – like Apple, Amazon, Microsoft, and Google – innovative, but rather it’s their approach to challenge and change. Interbrand pinpointed three key pillars propelling brands forward even as “uncertainty fuels fear.” With courageous leadership, powerful engagement, and market relevance, brands are successfully tackling the unknown, during COVID and beyond. Those key principles are something every brand – regardless of industry service sector – can nurture from the inside-out.
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