Brand image and awareness is one of the most important factors to a business. Having consumers know who you are and what you do just by looking at your logo or business name can have a huge influence on your success. It can help drive sales and give you the edge over competitors, simply because consumers know and trust you.
Therefore, having a positive brand image is vital to a business. YouGov recently published its 2019 NextGen Rankings, which identifies the brands that UK millennials (aged between 18 and 34) have spoken about in a positive light with their family and friends in the past fortnight.
For the third year in a row, streaming service Netflix has come out on top, with a massive 80.2% of participants agreeing that it is a positive brand. It has a huge advantage over second place AirBnB, which was reviewed as positive by 72.9% of millennials.
According to YouGov, the top 10 is dominated by both tech companies and ‘disrupters’. The Business Leader describes disrupters as a business that creates a product or service that does things in a way that displaces existing market leaders. These are essentially game changers, and companies that shake up the status quo to identify a niche.
YouGov highlights Monzo as one of these disrupters. Monzo is an online, app-only bank, this description makes it clear why it is different to traditional banks and is considered a disrupter. It is more popular amongst millennials that other demographics, with 7% of UK millennials having an account, compared to 3% of the whole British population.
This company came fifth on the list with 71.9% stating that it is a positive brand, placing behind McDonalds (3rd with 72.5%) and photo-sharing platform Instagram (4th with 72.4%). The top 10 is completed by Apple, Apple iPhone, Spotify, Ikea and Primark respectively.
How does this compare to the US?
Unsurprisingly, Netflix also comes out on top in the US as well, with the US list showing that 76.9% of millennials agreeing that it is the top brand. However, unlike the UK, it only just beat the second place brand. It marginally beat social network Facebook, which came second with 76.3%.
The US rankings can be seen in full here and has five brands that match the UK list, albeit in a different order.
While not all businesses have a budget and reach like Netflix, it is still important to ensure that people view your brand in a positive light. Having exposure in both the online and offline worlds will also ensure that people are aware of your brand, as without awareness, no-one will have an opinion of your business at all!