TCS, Asian Paints and Bharti Airtel are amongst the top 10 trusted brands of our country, here's how they made it happe...
- As per WPP and Kantar’s latest
BrandZ report, economic impact of COVID-19 led to a 6% drop in total value of ranking.
- In challenging economic and social conditions created by the global pandemic and a pre-COVID-19 slowdown in the Indian economy, brands had to adapt quickly, with innovation and agility helping to fuel growth.
- We caught up with brands like TCS,
Asian Paintsand Bharti Airtelto understand how they won their consumers’ trust even during gloomy times.
AdvertisementLast week, WPP & Kantar’s launched its BrandZ report featuring Top 75 Most Valuable Indian Brands 2020 report.
This year’s ranking was worth $216 billion in brand value, a decline of 6% over last year, driven largely by a slowdown in the brand value of companies in the banking and automotive sectors. Despite the overall decline in brand value of the Top 75, 26 brands increased in value and five were new entrants. India’s top brands also performed well against other countries where declines in total brand value were much greater.
For millions of Indians who stayed at home during the crisis, telecom providers have supplied a much-needed lifeline and fulfilled a growing demand for data-driven services like online gaming and media streaming. This helped Airtel (no.4, +36%, $13.9 billion) become the top telecom brand, while Jio saw its value increase 26%.
Trusted brands have weathered the crisis better than brands with a low trust index. In a category where it is difficult to gain
On what has helped Airtel float in an unstable market, Shashwat Sharma, CMO, Bharti Airtel, said, “As a brand we believe differentiation is critical, especially when it comes to delivering a brilliant customer experience and bringing unique services and solutions to customers. Through these uncertain times, we have been grateful for the opportunity to be able to deliver this differentiation and be the backbone that helped people to stay connected. From children having to take their classes online, to increased digital payments, to businesses finding new ways to keep their employees working, to enabling customers to have a few moments of entertainment in an otherwise dreary time, we have played a critical role in all their lives.
Sharma added, “We see a silver lining to this disruption and we took a lead to help our customers in reducing disruptions in this unprecedented situation. We introduced several innovations within a matter of days so our customers can stay connected at all times – from online acquisition to simplifying payments journeys to the launch of Work from Home solutions to educating customers to recharge online, to having others do it for them enabling customers to easily access a varied range of services digitally.”
Despite the paints industry struggling in India, top 5 brand Asian Paints (no. 5, $8.0 billion), grew its brand value by 14%, by focusing on meaningful difference, communications and innovation. The market leader, it has successfully brought out new products, while building a strong distribution network and raising its profile among key influencers like architects and professional painters.
Addressing your consumers’ concerns tactfully plays an important role in improving brand value.
Amit Syngle, MD and CEO, Asian Paints, said, “Asian Paints has always had a deep emotional connection with homes and as a legacy, owns ‘beautiful homes’ in a strong way. We have been able to nestle in the hearts of the consumers by being part of their journey, helping them design their dream home for years. In 2020, at the onset of the pandemic, our driving principle was to support the Government and the country and we pivoted our initiatives and communication towards the happiness and well-being of our consumers and partners. We have always invested in taking care of all our stakeholders and providing support during trying times. At Asian Paints, our core dictates us to care for our customers, the only way we know to earn their trust.”
Rajashree R, CMO, TCS, said, “We are honoured to be amongst the top 3 brands in India. This is a recognition of the defining role TCS has played in transforming and globalizing India and its people. As part of the Digital India movement, we have played a key role in transforming industries, institutions and public services, thus becoming part of every Indian. With our thought leadership framework like Business.4.0 powered by the technology and innovation prowess, we have been crafting and enabling growth and transformation journeys for leading businesses all over the world as well as India. We would like to thank Kantar for recognizing the power of the TCS Brand and the achievements of the 450,000 employees behind it.”