There is a difference between estimating a brand’s value and trying to estimate its strength. The analysis company Brand Finance, which measures both each year, has produced a Brand Score Index (BSI). This weights the various factors, based on several underlying measurement points, to evaluate the overall strength of brands.
The value of any brand is the result of the company’s economic market value, while the strength of a brand is more complex. Measurements include investments in marketing and commitment and loyalty of customers, as well as underlying financial developments for the company.
Using this method, with a BSI of 93.3 out of 100, the Chinese company WeChat has become the world’s strongest brand. However, Apple retains the title of the world’s most valuable brand, with an estimated brand value of $355 billion in 2022, an increase of about 35% year-on-year.
Apple’s success historically lies in improving its core brand positioning. However, its recent growth is a result of Apple starting to offer a much wider range of services, as well as its thoughtful resonance with the target audience.
WeChat is a bit of an all-in-one app that is unique to the Chinese market. It serves multiple functions in people’s lives, managing everything from payments and banking to social contacts and more. For example, during the corona pandemic, WeChat was used by hundreds of millions of residents in China to book vaccinations and healthcare.
According to Brand Finance, the wide selection of services used daily and the close connection between the app and people’s everyday lives makes it score so highly in the survey.
It should also be noted that Google and Coca-Cola rank almost as high as WeChat.
List – World’s Ten Strongest Brands 2022 (Brand Finance)
- Wechat – 93.3 (China)
- Coca Cola – 93.3 (US)
- Google – 93.3 (US)
- YouTube – 93.2 (US)
- Naver – 92.5 ( South Korea)
- SBER – 92.3 (Russia)
- Ferrari – 90.9 (Italy)
- Amazon – 90.3 (US)
- Deloitte – 90.2 (US)
- Pepsi – 90.1 (US)
