If you thought your company could never compete against the likes of Google, then perish the thought. All you need is a touch of the right product for the right people and some consumer loyalty to get your brand to the top.
After comparing the world’s top 500 brands, British research firm Brand Finance came across an unlikely shift in brand hierarchy. In an epic race to be the world’s most powerful brand, Ferrari pushed Google and Coca-Cola aside to grab the trophy.
As a niche sports car manufacturer with a smaller enterprise value, the Marnello company is unable to compete with large multinational brands in terms of overall revenue.
So, how did Ferrari manage to push its way to the top? It’s all thanks to a hefty combination of profits, revenue per customer, brand affection and that ever-present loyalty. According to its researchers, “having a strong brand is a key factor to driving profitable growth.”
This just comes to show that no matter how small a company in comparison to the giants out there, your business could steadily rise to the top.
“It is always a pleasure to top any list and still more so when the competition includes some of the world’s most famous companies,” said Lucadi Montezomolo, chairman of Ferrari. “Behind this acknowledgement are exceptional products made by equally exceptional men and women. They made it possible and for that I thank them.”
Here are the top five most powerful brands in the world (in billions):
CEO and founder of Brand Finance, David Haigh concludes: “As the Global 500 powerfully demonstrates, customer expectations of brands are much higher than ever as trust becomes a critical business issue in a time of increased economic uncertainty. To fulfil such expectations, brand owners must continue to innovate whilst at the same time deliver quality with value, choice with social responsibility and sustainability with growth.”
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