When owners of well-known companies need to check on their brand’s health, they don’t take it to the doctor. Instead, they wait for the Harris Poll EquiTrend Rankings to come out so they can see if they made the list! Check out which brands made it this year and what it means for them.
How It Works
This annual study looks at how well about 1500 brands are doing when it comes to customer engagement. These brands are ranked depending on how they compare to other brands within the same category. The poll takes into account the opinions of about 40,000 US residents who are willing to rank companies on quality, purchase consideration, and familiarity.
Most Popular Brands
Considering that this list is basically a popularity contest from the consumer’s point of view, you have likely heard of most of the top ranked brands. Some of them are no-brainers, with the winner being practically synonymous with the category name. For example, what brand do you think was top ranked in the Single Serve Coffee Maker category? You guessed it: Keurig! What about Warehouse Clubs? Costco won that one.
Other top brands are equally obvious. Target won for the Mass Merchandiser category, while Verizon won best Mobile Network. YouTube overtook Facebook as the winner of the Social Networking Site category. What’s interesting is that the seemingly popular Twitter, LinkedIn, and Instagram didn’t even make the top five in this category, instead ranking below average.
Other winners of the EquiTrend Rankings are a little harder to guess, maybe because you don’t think about the brands much. For example, if you can’t think of a favorite gas station (and you’re not alone on this!), the fact that Shell Gasoline won Gasoline Brand of the Year might not mean much to you. The same goes for Mobil 1 Motor Oil, Dollar Tree value store, and Levolor Blinds & Shades, each of which won their category.
Another winner that might surprise you is In-N-Out Burger. Now if you live in California, Arizona, Texas, Utah, or Nevada, this might make sense because you’re already aware that the food is pretty tasty. But considering that this eatery is only located in these five states, it’s impressive that it won the Burger Restaurant category in a poll taken nationwide. Make sure to mention that to your friends who claim Five Guys Burgers and Fries is better!
What It All Means
The EquiTrend Rankings are a great tool for giving business owners information on how they’re doing in relation to competitors as seen through the eyes of consumers. This is otherwise known as brand equity, and it undoubtedly has a big impact on the company’s profits. Clearly, the winner of each category has the best brand equity.
According to Harris Interactive, the point of the EquiTrend Rankings is to help each brand with strategizing for its future, especially when it comes to targeting certain consumers. This is because it shows businesses where they fall short and where they are doing well.
Plus, the fact that this poll has been going on for years means it’s possible to observe the trends over time, making it clear to business owners how they are doing compared to past years. Of course, the additional media coverage the winners get doesn’t hurt.
Did your favorite brand make the list? And did any of the winners surprise you?
By Autumn Rivers – Editor, The Marketing Scope
Email: email@example.com, Twitter: @AutumnEditing