Consumers today have more options for buying than ever, which can sometimes lead to information overload and increased insecurity. As a result, consumers are seeking out a brand with the values, quality, and authenticity they can remain loyal to. According to CNBC, there are seven important keys to help build a strong brand:
- A highly compelling brand promise
- A powerful insight
- Closure power
- A contemporary feel
- A consistent brand promise that is continually renewed
- Cultural relevance, but in a global context
- Commitment to a higher purpose
One Austrian company with a strong global marketing strategy is Red Bull. Despite being created in Austria, many U.S. citizens assume it’s a local brand because its strong slogan “Red Bull gives you wings” has been embedded into the media and culture. Red Bull is able to remain a global brand by its unique logo, slogan, and packaging, but hosting various sports events around the world is also a major strength. Some of these events include the Red Bull Indianapolis Grand Prix, Red Bull Air Race in the United Kingdom, and Red Bull Soapbox Race in Jordan. These events keep the Red Bull name prominent in various countries, and also add another element of fun to the brand.
A food industry company known around the world for its golden arches and slogan is McDonald’s. Although Big Macs, Chicken McNuggets, and Happy Meals are considered to be the popular staples of the worldwide restaurant chain, McDonald’s uses a glocal strategy that allows it to cater to its customers around the globe. In Japan, for example, McDonald’s serves an Ebi Filet-O Shrimp Burger, which is a patty of Panko-battered shrimp with tempura sauce and lettuce. In China, instead of filling pies with apple, they use a taro-root filling, and in India, McCurry Pan is a popular menu item for customers. By being available around the world but matching the food trends of whatever location is may be in, McDonald’s is able to remain a popular brand around the globe.
H&M is a powerful retail company that also has locations in various countries. However, an optimized online shopping experience is what made H&M a global brand power. Just two years ago, H&M was only available in 9 European markets and the United States. Today, it is currently accessible for 63 markets, making shopping possible even when there is not a physical location nearby. The brand value has grown from $13,840,000,000 in 2008 to $22,681,000,000 this year, according to the latest Interbrand ranking.