Every retailer’s conversion rates could use a little push. The only question is how they can attain and surpass their desired conversion rates.
Many retailers resort to temporary ideas like discounts or free shipping to draw customers into their store, but the reality is that while these are useful to increase sales, they aren’t sustainable strategies.
“Brand” will always be a nebulous term. Arguments rage about its true value. Although recent research shows that it can be responsible for nearly 15% of your total worth (Or much, much more, if you’re J.K.Rowling) It’s still seen by many as the ultimate wooly metric.
There’s no doubt that being a household name will improve your chances of success in social, but just how far will it take you?
I’ve taken a look at the world’s top ten brands, and matched up their profiles across the biggest social media platforms.
Let’s see what’s in a name…
Over the years academics and analysts have attempted to show the value of brands (their ‘brand equity’) in terms both theoretical and monetary.
The Millward Brown BrandZ Top 100 report showed Apple to be the most valuable brand in 2013, with brand equity worth over $185bn; the other four top brands were, in order, Google, IBM, McDonald’s and Coca-Cola.
Since 2006 the BrandZ Top 100 has appreciated about twice as fast as the S&P 500.
Now J.K. Rowling, author of the “Harry Potter” series (as if anyone needed to be told), has inadvertently revealed the value of her brand.