Study finds technology-led experiences are helping brands stand-out and maintain relevance
The top ten most relevant brands are:
The dominance of technology-led brands in the top ten proves that the most compelling brand experiences happen on demand, across devices and channels – not in one space or during one interaction.
“Today’s always-on consumers need always-on brands to keep them connected,” said Ian Kirk, Partner at Prophet and co-author of the Brand Relevance Index®. “With multiple devices, consumers now expect brands to be proactive, responsive and relevant to their needs.”
In order to find out which brands are the most relevant to people’s lives, Prophet conducted a survey of 11,500 UK consumers about more than 240 brands across 27 industries measuring across four brand principles: customer obsession, ruthless pragmatism, pervasive innovation, and distinctive inspiration. By speaking directly with consumers, the BRI determines which brands are truly indispensable to people’s lives and how forces like technology are changing consumer behaviours.
“This year’s results show once more how relentlessly relevant brands are pushing themselves to earn and re-earn customers’ loyalty. They are defining – and redefining – what is possible in their categories and in our world,” said Kirk. “The BRI is a valuable tool for brand leaders to identify both areas of strength and opportunity to improve the relevance of their brands. It’s clear that in order to succeed and grow, brands must be relevant.”
· Digital rules. The apparent dominance of digital, and in particular digital entertainment brands, is pushing outtraditional players, like John Lewis and Ikea. There were more gaming brands in the top 50 than financial services, airlines, restaurants and auto brands combined. PlayStation, Xbox and Nintendo all ranked higher than household names like Sky, Sony and Visa.
· Living and breathing data. Spotify, Netflix and Amazon are all top 10 brands who excel in providing users with tailored content based on collected data and user profiles. Clearly the most relevant brands are the ones that know their customers the best.
· The end of banking as we know it? No retail banking brands make it into the top 50. Rising up the ranks are innovative disruptors, such as PayPal, which is providing friction-free, simplified experiences and challenging retail banks’ traditional role.
· Relevance builds resilience . Volkswagen and the NHS have had some bad press in the past two years, yet both have risen from the ashes as some of the biggest gainers of relevance this year. They have an emotional resonance that weathers any poor performance.
The Prophet Brand Relevance Index® is released in four countries – the United Kingdom, Germany, the United States and China. Apple was the top brand in the UK, Germany and U.S., and Google ranked in the top three in each country. In China, Alipay took the top spot, followed by WeChat in second.
The complete results across regions can be found here.
Prophet partnered with SSI, the premier global provider of data solution and technology for consumer and business-to-business survey research, to program, field, collect and tabulate data.
In the UK, Prophet surveyed 11,500 consumers about 240 brands across 27 industries. Companies from all industries that contribute materially to UK household spend were included, except brands in the tobacco and firearms categories or those engaged in primarily business-to-business categories. In some cases, smaller companies that are driving change in their respective industries were also included given their significant traction with consumers. The data was sourced from the Office for National Statistics’ 2016 Family Spending Report (UK).
Each participating consumer rated up to five brands within a single category on 16 different attributes that correspond to the four principles of relevance Prophet identified. To rate a brand, a consumer had to be familiar with the brand and a frequent consumer in the brand’s category. More information about the methodology can be found here.
Prophet is a global brand and marketing consultancy that fuses insights, strategy, creativity and imagination to help clients grow better brands and businesses. We uncover deeper customer insights, build stronger brand relevance and deliver engaging customer experiences for some of the world’s most successful companies such as Electrolux, T-Mobile, GE, Enterprise and UBS. Our 300+ experts in marketing, innovation, digital and design help companies bridge the gap between strategy and execution to drive real market impact. www.prophet.com