LinkedIn has officially joined the ranks of the world’s best global brands, according to Interbrand’s latest edition of its annual brand valuation report. The social network ranked at number 98, just ahead of Harley-Davidson and Prada.
The ‘Best Global Brands’ list analyses the financial performance of 2,000 brands internationally, the role their brands play in purchase decisions, and their ability to create loyalty and, therefore, sustainable demand and profit.
Commenting on the findings of the report, Charles Trevail, global chief executive of Interbrand, said: “For decades, the entire discipline of brand-building was based on the concept of brand positioning, but in today’s accelerating markets, customer expectations outstrip static brand positions. Brands can no longer be considered separate to businesses and will be judged on what they do, not just what they say; and about trust, not just delivery.”
Interestingly then, Facebook – the embattled social media giant – has this year fallen out of the list’s illustrious top ten slot, coming it at number 14 (with a valuation of $39.9 billion). Its ranking is down from 9th place in last year’s report and 8th place at its peak in 2017, when it was valued at just $48.2 million. Indicating that while Facebook is worth more as a business, the value of its brand has taken a significant hit.
Recent issues including data leaks, congressional scrutiny and the Cambridge Analytica scandal have all been suggested to have contributed to the fall, as user trust in the platform continues to wane.
Trevail adds: “The age of brand positioning is over. In a world where customer expectations will continue to move faster than businesses, static brand positions and incremental change will just about keep brands in the game – but it will take, brave, we would say ‘iconic’, moves, to make brands leap ahead of customer expectations and ultimately deliver extraordinary business results.”
Check out the full list of this year’s top 100 brands, here.