Global brand and marketing consultancy, Prophet, has announced the results of the fourth annual Brand Relevance Index (BRI), a ranking of the most relevant brands in consumers’ lives today. In the UK, Apple maintained its standing as the most relevant brand for the third year in a row, while Lego has moved from fourth to second and PlayStation from ninth to third. Fitbit and the NHS were new entrants into the top 10 for the first time, replacing Dyson and Lush.
Outside of the top 10, it was interesting to see Nationwide become the first financial services brand to make it into the top 50, whilst Uber was the biggest climber leaping up from 146th in 2017 to 26th in 2018, pushing through controversies by creating a customer experience that is more essential than ever in the lives of consumers.
The top ten most relevant brands were:
“Besides being technology-led disruptive companies, what many of the top 10 have in common is that they’re fast earning consumer trust by leveraging data to enhance the brand experience and connect with consumers on a deeper and more personal level,” said Rune Gustafson, President EMEA at Prophet.
In order to find out which brands are the most relevant, Prophet conducted a survey of 11,500 UK consumers on more than 240 brands in 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 peoples’ lives and how forces like technology are changing consumer behaviours.
“The Prophet Brand Relevance Index continues to demonstrate that relevance drives long-term business growth” said Gustafson. “Not only do relevant brands engage with their customers in new ways but our research shows that they have outperformed the FTSE 100 Index by 73% over the last decade. The BRI has become an increasingly more reliable way of predicting future growth by identifying areas of strength and opportunity for brands to exploit.”
- Home-grown brands are falling behind. Year on year there’s been a decrease in the number of British brands making it into the top 50 – accounting for only 22% in 2018. British brands have been slow to adapt and adopt and the lack of disruptive innovation is fast putting future growth at risk. For brands that commit to innovation – like Dyson (12) – there’s a real opportunity to stand out from the pack.
- The power of Purpose. Lush (16), Ikea (28), brands with conviction are becoming more powerful, influential and relevant than ever. Having a built-in Purpose is enabling deeper connections to be made with consumers over pertinent issues whilst also enabling brands to tell compelling stories that build genuine warmth, credibility and loyalty.
- Rethinking value exchange. For a long time, brands failed to deliver value beyond the transactional relationship but now – with Netflix (5) and Spotify (7) leading the charge – we’re seeing more swapping rich data in order to deliver more personalised, more welcomed and more relevant experiences to consumers.
- User mindset over matter. Lego (2), Fitbit (6), Whatsapp (22) for these brands it’s no longer about treating customers as buyers but more about developing an ever-growing user base that can be tapped into in innovative, creative and community-led ways.
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., whilst Aliplay took the top spot in China.
The complete results across regions can be found here.
Prophet surveyed 47,845 consumers across the U.S., UK, Germany and China about 800 brands. It partnered with Research Now SSI, the world’s leading global provider of first-party consumer and professional data based on extensive, proprietary market research panels, to program, field, collect and tabulate data.
In the UK, Prophet surveyed 11,500 consumers on 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’ 2017 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 consultancy that helps clients find better ways to grow by focusing on three important areas: creating relevant brand and customer experiences, driving accelerated growth strategies and leveraging digital as a transformative force in their business. We operate differently than other consultancies, blending insight, strategy and creativity with an optimistic yet pragmatic approach. We have partnered with some of the world’s most successful companies, including Electrolux, T-Mobile, UBS and Formula E. With ten global offices and more than 350 experts in marketing, innovation, digital and design, we are able to bring together the right people with the right experience to solve our clients’ business challenges. Prophet.com