What’s the best brand in the world?
Here are my criteria for the best brand in the world. The benchmark against which other brands should be compared. This is more multi-dimensional that the tables of the world's biggest brands. I propose 10 criteria that look at how the brand has been built, not just its size.
Based on these criteria, have a go at nominating your choice by adding a comment. And also add other criteria I may have missed.
Next week I'll reveal what I think is the best brand in the world.
1. Great product/sausage: the best brand in the world needs to have a fantastic product or service, which is distinctive versus the competition. Its a brand that is famous for doing something superbly well.
example: Gillette razors for track record of product innovation
2. Fab emotion/sizzle: the best brand in the world will also be desirable, and have a rich emotional world. But importantly, this emotional sizzle will flow from and reinforce the product story of the brand
3. Customer experience: the best brand will go beyond a mere product, and have a "live" customer experience that allows peope to interact with it.
example: O2 having the O2 concert venue, and O2 Priority for exclusive access at events
4. Excellence in execution: the best brand will have not only a smart strategy, but also a fanatical attention to detail when it comes to execution. Every bit of the mix will be crafted with love and attention, and it will be consistent both over time, and over the mix.
example: Pret a Manger, for their fantastic products, people, place
5. Unique business model: the best brand will have a unique business model that allows it to generate profitable and sustainable growth.
example: Pampers data-base of millions of new mums via Bounty Packs in maternity hospitals, used to do targeted direct mailing over baby's life stages
6. Route to consumer: rather than being in a death-match with retailers, the best brand will at least be starting to work on having a direct route to the consumer, allowing it to build a relationship, and control distribution
example: Times+ club as a way for the newspaper to get subscribers and sell direct, rather than through shops
7. 2-Way dialogue: the best brand in the world will have a direct, 2-way dialogue with consumers, having a sophisticated system for interacting with them
example: innocent smoothies' "family" of c200,000 people who subscribe to their newsletter
8. "BSR" = brand social responsibility: the best brand will be making efforts to address issues to do with social and environmental issues. It will not be a saint, but it will be moving in the right direction.
example: Tesco, for its (not always recognized) contribution to the environment, but being the place where UK people do 15-20% of recycling, and saving billions of plastic bags by offering Clubcard points for customers re-using bags from any supermarket
9. Premium priced: the combination of all the factors above will allow the best brand in the world to sell a premium priced product, whilst still selling lots of volume.
10. Growth: all of the above count for nothing if the brand has not delivered consistent and significant growth for at least 3 years, if not 5 or more.
So, there you have it. My criteria for the best brand in the world.
Ideas on which brand should win? Then do please leave a comment.