Top Brands Pave the Way for Small Business

With the U.S. economy slowing since 2001, one would think that international brands would sneak to the top. However, do you realize that 16 of the top 25 global brands are U.S. brands? And eight of these brands occupy spots in the top ten. Other countries enjoying top billing are Finland, Japan (Toyota, Honda and Sony) and Germany (Mercedes Benz and BMW).

Sixteen U.S. brands in the current top 25 is only a slight drop from 18 in 2001. Coke, IBM, Microsoft, GE and Nokia still rank at the top — no surprise. These top 5 stats are holding steady, but the next players are interesting.

As Macintosh worshippers, a warm “welcome” to Apple Computers for their debut this year at #24. Also new to the list since 2001: Google (up from #20 to #10 in just one year); Louis Vuitton (France’s Top 25 debut brand since 2005); H&M Apparel of Sweden. And a wave goodbye to Ford, AT&T and Merrill Lynch.

So, what can Interbrand's 2008 Best Global Brands report teach us about the world's top brands in this growing global economy? Plenty. And what can you, the small business owner, learn from these lessons? Even more.

Lesson #1: Brand Engagement is Crucial

Here is how Merrill Lynch positions its brand online:

Merrill Lynch demonstrates its commitments to clients and shareholders through the firm's emphasis on excellence, integrity and ethical behavior…

If the employees of Merrill Lynch truly believed in and behaved according to the brand attributes promoted on the company's website, they would never have lent large amounts of money to entities who were not qualified to borrow a lawnmower. Though individual citizens share much of the responsibility, financial services touting a devotion to fiscal responsibility and economic viability failed to maintain brand engagement among their ranks, and the result has been a devastating collapse of trust and shivers of recession that are reverberating across the globe.

Investing in the proper training of employees so they embrace and live corporate brand attributes is a key component of branding, so it is not surprising that myopic financial service brands such as AIG, UBS, and Morgan Stanley have all dropped in Interbrand's 2008 Best Global Brands rankings. As the report states, "But while no brand has come away completely unscathed on account of the interdependent nature of the industry, some have weathered the storm significantly better than others." Long-respected stalwarts HSBC and Goldman Sachs, for example, have not only survived but are managing to capitalize on the decline of their competitors.

Want to create a brand that engages your core target audience? Sign up today at www.boostyourbottomline.com/freebie for your free Jumpstart Coaching call.

© 2008 BoostYourBottomLine.com

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