The worth of a brand is known by the number of people that know about it, or at least have heard about it. The bigger it is, the more people know about it.
Companies like Facebook, Amazon, Google and Apple are some of the biggest brand names in the world. Their rankings change every year, thanks to intense competition among them.
Last year Apple was crowned the best brand in the world. And now its time to take a look at 2016’s 10 biggest brands.
Having a brand value of $229 billion, Google is the top contender right now.
Their brand value increased by 32% over the last year to make Google the most valuable brand name in the world, according to BrandZ’s new annual ranking.
It’s parent company Alphabet has been dipping its toe into other ventures like self-driving cars and anti-aging science which have captured the imagination of the public. This helped increase its ranking and beat Apple as the top dog.
Google has topped the list several times, from 2007 to 2010 and then again in 2014.
The company’s brand value dropped by 8% to $228 billion putting it just below Google.
They sold millions of iPhones and similar products but the perception towards their brand is changing.
Elspeth Cheung, global BrandZ valuation director at the brand consultancy firm Millward Brown, said:
“They need to create a stronger emotional connection with consumers, they need to work on their relevance to consumers.”
They invested $1 billion into Uber’s Chinese rival Didi Chuxing, in hopes to gain a more relevance in the overseas Chinese market.
At a brand value of $122 billion, Microsoft has managed to stay in the third position for the second consecutive year. It managed to increase its brand value by 5%.
They have been using Windows as their primary source of income for quite some time and their latest Windows 10 offering has received widespread acclaim. Aside from working on PCs, laptops, tablets and phones, it also has become a part of their Xbox gaming consoles.
Microsoft also recently announced their plans for virtual reality. They aim to get Windows Hologram on as many devices as possible, quite similar to what they did with Windows when the personal computers first hit the market.
A telecom company at heart, AT&T’s brand value stands at $107 billion, an increase of 20% since 2015.
Verizon and AT&T are the top most valuable telecom companies in America in terms of brand value. AT&T is trying to add entertainment to their offerings in an effort to diversify their services and increase their value.
Their acquisition of DirecTV in 2015 helped change its content offerings and maintain their lead in their industry.
Facebook made its way into the BrandZ’s top ten for the first time when its brand value increased by 44% to $103 billion last year.
They managed to grow their brand by venturing into new areas. They introduced Bots for Messenger for example, which can help users access personalized news, weather updates or shopping notifications.
Instagram and WhatsApp are owned by Facebook but they do not count towards Facebook’s brand value and are considered separate brands by BrandZ.
The monetary company VISA has a brand value of $101 billion.
Visa is one of the older brand names and have been around for a long time. They are still trying to change the way payments are made. They announced that they are testing a new wearable called “debit ring” which can one day replace debit cards.
The company is also a leader in online security which is well appreciated by the customers. Their brand value increased by 10% since last year.
Amazon is also breaking into the BrandZ ranking for the first time, like Facebook. Their brand value is $99 billion, up 59% since 2015.
They are creating their own entertainment content as well as improving their existing delivery and logistics business in an industry dominated by the likes of FedEx and UPS.
Elspeth Cheung added that the company is not just satisfying the customer’s needs, they are also creating new desires.
Verizon managed to increase their brand value by 8% to $93 billion over the past year by offering more content to its users.
Their multi billion dollar takeover of AOL was a part of their strategy to add a major player to the digital media business by combining a leading content producer with one of the biggest mobile networks.
McDonald’s association with the food industry has invited a mixed reaction amongst its consumers, given the attention to obesity and fast food culture. It climbed 9% in terms of brand value and currently stands at $89 billion.
They are trying to deliver a healthier image for themselves, which is evident in its recent efforts to promote McCafe beverages over regular soft drinks. Their all-day breakfasts have also been a hit with the customers.
Their brand value has decreased 13% from 2014 to 2015 and another 8% from 2015 to 2016 and currently sits at $86 billion.
IBM is trying to change from a software and services business to a cloud based business, but during this transformation, their sales have declined for 16 quarters straight with their worst since 2002 announced last month.
They’re investing in artificial intelligence and in cognitive computing which has impressed the general public.
Do you agree with the brand rankings? Is there a brand which should’ve been in the top 10 rankings? Let us know in the comments below.
Via CNN Money