Defining a brand’s power is easier said than done. What constitutes brand power? Is it revenue? Number of customers? Societal impact? A combination? Brand innovation firm Tenet Partners tackles this dilemma in their annual “100 Most Powerful Brands” report.
 
The rankings are based on their BrandPower metric, which measures strength according to both familiarity and favorability. Based on these metrics, the company ranked corporations from the top 20% of top revenue earners in the U.S.
 
Coke took the top spot in this year’s rankings for a staggering ninth consecutive year, a demonstration of the brand’s dominance in the food and beverage space. Other notables in the top 10 included Disney (#4), Apple (#5), and Google (#10). Of the top 10, Johnson & Johnson fell the furthest, while Microsoft moved up one spot to #6.
 
Customer experience played an increased role in this year’s report, as CX fulfills a crucial component in favorability. Brand loyalty goes hand-in-hand with this concept, and is also a driver of organizational favorability; this focus on loyalty can be seen in the overlap of the most popular loyalty building industries—namely automotive, hospitality, and retail—with the highest placing industry of consumer cyclicals.
 
“Those brands that focus on enhancing the overall customer experience and deliver a consistent, favorable experience across all touch points are sure to increase favorability and overall reputation as evidenced by the standout brands highlighted in Tenet’s 2016 Top 100 Most Powerful Brands—Amazon (#54), Bank of America (#68), Macy’s #95), ebay (#29) and Clorox (#47),” Russ Napolitano, COO at Tenet Partners, told Loyalty360. “These brands represent diverse industries, yet their commitment to not only customer loyalty, but to all facets of the brand experience has reaped them many rewards.”
 
“A brand’s loyalty efforts can certainly help to increase its favorability or its market reputation as long as the loyalty efforts are in alignment with the brand’s overall essence,” continued Napotilano. “For example, American Airlines (ranked #99, up from #108 in 2015) makes it easy for members to earn miles and make purchases with their AAdvantage credit card.
 
The concept of brand power has gone through an enormous shift in recent years, with the newly coveted value of social media following, personalized brand messaging, and peer recommendations. Even through these dramatic changes, brands like Coke have endured and even thrived, helping usher in a new era of customer loyalty.

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