Brand Finance have just recently released their data for the Top 50 British Brands of 2010. The data makes for interesting reading, with Vodafone now taking the top spot, knocking HSBC down into second place.
It is certainly interesting to see the way the various companies have been affected by the current state of the economy. It is clear that not everyone is suffering. In fact the data table shows that some of the brands are out-performing their previous years. With the majority of these top brands being British owned, perhaps the economy is not doing as badly as people might have you believe.
The importance of a brand is demonstrated by some companies on the list whose brand value make up a large percentage of the company’s overall value. The value of a brand is necessarily attached to the consumers’ opinion of it. Which is why the study includes data gathered by Brainjuicer the “online insights agency” as to how the public feel about the particular brands. Based on an “emotional score” rating the information shows how happy consumers are with the particular brand, compared to 2009.
Starting to build a business brand
Of course it is the small businesses that make all the difference to the economy and having a strong brand is an important part of any business. As I discussed previously, a business brand is much more than just a logo. It is the very essence of the company, the values and the ethics of the business and much much more. Carry out a company formation or starting any new business, you need to set the brand from day one and ensure that it is stuck to. When a business goes back on its brand or breaks its own principals is when the customers start to become disheartened and the business suffers as a result.
Build a brand, build a loyalty and your business will do well.
Read more about Brand Finance here.
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