Managing a brand is no easy task in this age of the empowered, technology-savvy customer. Now the recent rankings of the BrandZ™ Top 100 Most Valuable Global Brands from Millward Brown, the insights arm of WPP, recognizes standout efforts among the best of the best. Congratulations to these amazing companies, in particular to the 18 Ensighten clients on this list, among them Microsoft, Home Depot, T-Mobile, Hewlett-Packard and Coca-Cola.
The BrandZ™ methodology calculates a brand’s contribution to the overall financial value of a company. The study valued the top brands based on in-depth consumer research covering three million consumers and more than 100,000 different brands in over 50 markets.
What Goes into Building a Great Brand Today?
Surely among the most important elements are relevance and customer experience. Consumers view high-quality products that offer good value for money as a basic entitlement, and they demand relevance, if not personalized experiences.
Fortunately, brands now have the ability to truly engage consumers, delivering relevance across an array of digital platforms and media, in combination with brick and mortar stores and call centers. The abundance of online and offline data generated today gives brands the needed insights to deliver what consumers want, when and where they want it. Fundamental to connecting the dots to makes sense of the data is having a single view of the customer across the entire omni-channel journey. The rise of mobile technology has made this journey even more important, and complex, as consumers increasingly use mobile devices in-store as part of the shopping experience.
Marketing Technology Enables a Single View of the Customer
When it comes to building a valuable brand, having a single view of the customer unlocks the ability to personalize messaging at the user level. It’s what allows a brand to go from generically marketing hiking gear each spring to an outdoor enthusiasts segment, for example, to delivering tailored offers across all channels and devices to individuals based on their online behaviors, and online and offline purchase histories.
The most valuable global brands today are leveraging open marketing platforms to:
Build Your Marketing Technology Stack with an Open Platform
But don’t let me be the one to tell you about the power of an open marketing platform. The research data tells the story. According to Millward Brown the value of Ensighten’s 18 clients’ brands within the Top 100 Most Valuable Global Brands is an astounding $748 billion!
Consumer data also tells a story, but it must be captured, analyzed and acted on at the user level to truly “speak” to consumers as individuals. Fortunately, the technology is now available to make this possible and leading brands are investing in open marketing platforms to seize the opportunity. What will you do?