Probably the best advice I can give you.
If you want to build a brand.
Is:
Don’t be like Coke.
Interbrand.
Each year.
Interbrand.
A brand consultancy firm.
Rank the world’s biggest companies by brand value.
They base the ranking on brand strength now.
And how the brand says it wants to improve in the future.
Then Interbrand try to fathom what value all of this adds to the company right now.
2019.
Here’s their 2019 list.
Including value:
10. Disney. $44m
9. McDonalds. $45m
8. Mercedes-Benz. $51m
7. Toyota. $56m.
6. Samsung. $61m.
5. Coca Cola. $63m.
4. Microsoft. $109m.
3. Amazon. $125m.
2. Google. $168m.
1. Apple. $234m.
Words.
Interbrand look at market capitalisation and market value.
And Interbrand also say that they look at other lovely words such as:
- Differentiation
- Governance
- Engagement
- Responsiveness
- Presence
- Relevance
- Clarity
- Authenticity
- Commitment
I like these words.
Because they can promote discussion around my brand.
And your brand, too.
Coca Cola.
Yet my advice stays the same with regards to Coca Cola:
Don’t be like Coke.
Despite their value.
And it’s not because the value of the Coca Cola brand has declined 4% in the last year.
It’s not even because the Coca Cola brand has declined in value (according to Interbrand).
Every year since 2014.
It’s because of this.
The Restaurant.
Imagine you were in a restaurant.
With a group of, say, 9 friends.
And all 10 of you asked for a ‘Coke’.
Then imagine that the person serving you lets you know that there is no Coke.
Only Pepsi.
Ask yourself this.
How many of you walk out?
Because you couldn’t have your first choice?
I’d wager that none of you would.
In fact, I’d wager that there would be a chorus of:
Yeah.
That’ll do.
Don’t Be Like Coke.
Don’t Be Like Coke.
Don’t be a brand that.
Given the choice
Consumers couldn’t give a toss whether they have you.
Or your closest competitor.
Irresistible.
Be irresistible instead.
Be the only one they want.
The one they demand.
The one that all others pale into insignificance next to.
So yes.
As odd as it sounds.
I really do mean it.
Don’t be like Coke.
