Skip to main content
An evolving AI project from Mi3 | Automation with Editor curation. And oversight. Always.
In partnership with
Salesforce
Posted 10/10/2024 9:38am

Image by DALL·E Pic: Midjourney

Editors' Note: Many Fast News images are stylised illustrations generated by Dall-E. Photorealism is not intended. View as early and evolving AI art!

hAIku

Brands rise and fall fast,
A decade's tale of triumph,
Purpose is steadfast.

In partnership with
Salesforce

FutureBrand looks back on the last decade of brand performance in FutureBrand Index 2024

FutureBrand is taking a look back on last decade of brand performance as it marks the 10th anniversary of the FutureBrand Index.

Each year, the report evaluates an organisation's performance based on brand, reordering the PwC list of Top 100 Companies by market cap. Brands are assessed against 18 key attributes focused on Experience and Purpose. Apple, Disney, and Samsung have achieved 'future brand' status, while Boeing and Volkswagen have fallen off the charts.

The latest report analysis 10 years worth of data to reveal why brands like Apple, Disney, and Samsung have achieved ‘future brand’ status, while Boeing and Volkswagen have dropped off the charts altogether.

The top 10 global brands in 2024, according to the index, are Samsung, Reliance Industries, Apple, Nike, ASML, Danaher, The Walt Disney Company, Moutai, TSMC and IHC. In 2014, the list was as follows: Google, Apple, Microsoft, The Walt Disney Company, Samsung, Intel, Toyota, Johnson & Johnson, IBM, Unilever.

FutureBrand Australia CEO, Rich Curtis, says the last decade has been a golden era for brands thanks to the brand value and business benefits of being consistently consistent: “These brands’ success isn't a stroke of luck. It's testament to smarter strategies based on a deeper understanding of the role and value of brands at the highest levels of company leadership.”

Across the board, brand has made significant strides in both performance and perceptions over the past decade, with key areas like Consistency and Seamlessness seeing notable growth. Seamlessness jumped from 22% in 2014 to 34% in 2024, while Consistency surged from 25% to 36%. Respect also saw a sharp rise, climbing from 22% to 34%, highlighting a stronger focus on customer satisfaction and well-being.

Reflecting on data linked with Purpose associated attributes, Resource Management saw the most significant improvement. It soared from 18% in 2014 to 30% in 2024, reflecting the broader customer demand for increased sustainability and responsible practices. Authenticity and Mission also substantially increased across the board, both climbing from 27% to 37%.

However, the average Personality score has dropped from 36% in 2022 to 33% in 2024. Similarly, Story and Attachment experienced modest drops. This suggests that while brands have excelled in many areas, maintaining a unique and engaging narrative remains challenging.

FutureBrand Australia head of strategy, Victoria Berry, said: "While overall brand gains have been strong over the last decade, what’s clear is that it’s increasingly challenging to maintain a unique Personality and compelling Story. In the pursuit of Seamlessness and Consistency, some brands have lost their own distinctive voice. In the constant race to keep top-of-mind in an increasingly fast-paced world, it’s those brands that continue to evolve with Creativity and Purpose will set themselves apart in the next decade."

Global Chief Strategy Officer, Jon Tipple, said: "It’s clear that excelling in just one area is no longer enough. To succeed, brands must deliver consistently on multiple attributes across Purpose and Experience. Lean too heavily into Consistency, and you risk becoming mundane. Focus too much on Individuality, and you may lack the operational delivery that today’s customers expect. We know people want to connect emotionally with brands and with that comes a demand for companies that are genuine, forward-thinking, and impactful. The real key to long-term success lies in balance - hitting the right notes across the entire spectrum, or 18 attributes, of brand perception."

The FutureBrand Index reveals that organisations that have sustained investment and truly embodied their brand have achieved future brand status. Over the last decade, companies in the Index have become more attractive both as places to work and as brands to buy from. Brands that fail to deliver on the core values they have built their business on face the risk of reputational damage.

"It is insightful to reflect on how organisations have weathered the storms of the last decade: from global economic downturns to a once-in-a-lifetime pandemic. What shines through the ups and downs is that brands thrive when they stay true to their values, even under pressure, with a clear, purpose-driven approach. On the contrary, brands that compromise on values, mission, innovation or otherwise face the risk of reputational damage. It’s the small, every day decisions that fail to align with your brand that gradually erode your brand and eventually leave it devalued and meaningless. The lesson for CMOs is simple: compromise your purpose, and you compromise your future," said Berry.

Search Mi3 Articles