The Makings of a Relevant Brand
The growing value of the digital revolution
A quarter of Interbrand's top 100 global brands for 2012 were tech-related - a testament to the growing value of the digital revolution.
As this ranking indicates, the leading brands of tomorrow will likely emerge from new sectors, rather than tweaks to existing ones, say IESE Professor José Luis Nueno and Gloria Andreu.
In their paper, the authors reflect on successful new brands, the sectors of the future, the opportunities presented by a multichannel strategy and the role that the image of the country of origin plays in a brand's success, highlighting Spain as an example.
Learning From Digital Leaders
Google, Amazon, eBay, Facebook and Yahoo were not as relevant 15 years ago as they are today. What do these five preeminent players have in common, aside from being upstarts in the digital sector?
These companies all meet consumer needs in ways that are efficient and, so far, free. They are serial innovators: For example, hardly a month goes by without Google offering some new service. They have also had a transformative effect on their sector.
In short, these brands have succeeded because they brought about a radical change in how consumer needs and aspirations are being met. They ask themselves what consumers will demand in the near future, and if it is possible to be pioneers in these sectors, hence making their brands relevant.
A 2010 study by the Future Agenda program highlighted the key issues for the next decade, which served to identify the 20 most relevant sectors of the future, such as connectivity, payment methods, health and recycling.
For most brands, possibilities exist to meet genuine underlying needs in these areas. Companies can conceivably become global leaders in these sectors or in others that might become more relevant in the future.