Last week saw the publication of Forbes’ annual list of the world’s most valuable brands and it comes as no surprise that Apple is at the top of the tree for a 9th consecutive year.
What is surprising, however, is that the tech giant has achieved a 12% increase over the past year and become the first to break the $2bn mark despite a continued decline in sales of their most popular and recognisable product: the iPhone.
Whilst this may at first seem counter-intuitive, when you look at the bigger picture, it is easy to see how the Apple brand is continuing to go from strength to strength. A consummate master at creating and maintaining brand value and loyalty, Apple has successfully built such a cult-like following that they have been able to leverage their brand in more and more ways, with their latest success story being their move into services.
They have consistently grown their fanbase from that dedicated minority of Mac devotees two decades ago into the users of the 1.4bn active Apple devices of today who are only too happy to place their hard-earned trust in Apple for the provision of services as well as products.
The company’s services division which includes App Store, Apple Pay, iTunes and iCloud to name but a few is now the second biggest earner for Apple after the iPhone, with revenue of $37 billion in 2018 and a realistic expectation to top $100 billion within the next five years.
But if Apple offers a masterclass in creating and maintaining brand value, one of the biggest losers of the top 10 this year is Facebook, ranked 5th in the list and the only top 10 company to have decreased in value in the last 12 months. With user numbers declining, a string of scandals exposing the shady side of Facebook’s data use and security and reports that they are encountering unprecedented recruitment issues, it’s easy to see how the value of the Facebook brand has taken a hit.
See the rest of the top 10 most valuable brands below or click here to see the full list.
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Author: Hannah Roussel, Marketing
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