2020 has been a year of ups and downs for everyone. Brands have had to adapt to many changes that took place, from employees working from home, to more customers shopping online. BrandZ have just released the top 100 most valuable US brands of 2020.
Americans are living in different locations, with different financial means, and different generations. This can make it difficult for brands to connect with their audience. The younger generations want to see brands make statements on a variety of social causes that are close to their heart, but brands still have to connect to the other generations. Americans are becoming concerned about the environment. In fact, 73 percent of Americans believe climate change is happening (Yale Program). Roughly 36 percent of Americans qualify as obese. So, where does this leave its brands?
Rapidly evolving environments leads brands to adapt and change. The performance and strength of these brands have increased though. Over the last three years, 88 of its brands have remained in the top 100. These top brands will continue to grow in value in the next years to come.
The top brand is Amazon. One reason Amazon is number one is because it is still finding quick growth in new and existing markets. The top 5 categories in the top 100 are technology, retail, payments, telecom providers, and fast food. As shown below are the top 100 most valuable brands of 2020.
Top 100 Most Valuable US Brands
Top 5 Learnings for Marketers
1) Deliver a great experience
To grow revenue, the most important part is to retain existing customers. The experiences customers have with your brand must convenience them to continue.
2) Frame your experience well
Part of delivering a great experience is setting expectations. The experience must match the expectations marketers set though.
3) Do something different
Using social media is one way to stand out to your audience. Being innovated to create new categories or separate offerings for the competition will help you be different.
4) Get the word out
Using a database to find lookalike audiences and target them with communication that persuade them to buy the brand is one way to get the word out. For smaller brands, they may have to cross categories or find a new audience that can use the existing products.
5) Master the buying experience
The main idea is to ensure that you can make the purchasing experience as smooth as possible and then deliver a brand experience that makes people come back for more.
Ways for Brands to Win
Fill that niche
Getting the most out of your brand involves fulfilling people’s needs in a way that no one else does.
Lean into history
Having a strong brand involves recognizing your heritage. Remembering who you are and where you came from is always a good idea.
Don’t neglect salience
Many highly salient brands advertise a lot precisely because they sit in categories that make it hard to differentiate a brand.
Be an enabler
Finding a purpose in what you sell can make your brand seem more valuable to your customers.
Top Brands Positioned for Future Success
In 2020, digital advertising has increased, as TV, radio, newspaper, magazines, and out-of-home advertising decreased. With digital advertising, marketers are using targeting and technology to drive results.
Did you know that these top 100 brands combined are worth $3.81 trillion? No question, these top brands will focus on growth. Who knows what they will be worth in the next couple years? More technology and more innovation will allow these companies to reach an all-time high.
Additional Branding Resources
Building Brand Loyalty Online (IDeas BIG)
8 Tips for Creating a Brand (IDeas BIG)
Brand Innovation 101 (IDeas BIG)