Make branding a priority and reap the rewards
Now is the time to focus on branding; Indonesian consumers are more aware of and engaged with brands than ever. They talk about brands and recommend the ones they love. The BrandZ ranking shows that businesses in Indonesia that nurture the power of their brands are four times more valuable than those that don’t. CEOs should see a clearly articulated and communicated brand mission as essential to growth.
Safety in numbers – the value of trust
The value of being a trusted brand is underlined by analysis of the Indonesia Top 50. Among banking brands, for instance, almost 90 percent of the brand value in the ranking is concentrated at the top, among just three brands. These three banks far outperform other banks on measures of fairness, responsibility, and trust in the eyes of consumers. Economic crises have shaken this market, and wary consumers seek out brands they feel are safe. Emphasise scale, a long history, and popularity to foster consumer trust.
Emotional connections take brands to new heights
Brands that focus on making meaningful connections with consumers can punch above their financial weight in the BrandZ rankings. These connections must be about more than simply being well-known or delivering quality and value. They must be built on emotion, and the most successful brands deliver meaning not just through their products but through their communications, creating emotional, memorable links that connect with consumers’ lives.
Local relevance helps consumers straddle two worlds
Local brands dominate the Top 50, and Indonesians take tremendous pride in home-grown success stories. But the BrandZ rankings also show that multinational brands can succeed in this market by tailoring their attributes to the Indonesian market - not just with a local look, but by making a locally-relevant connection with consumers. Multinational brands can help consumers resolve the tension they feel between wanting to maintain traditional values and their desire to be worldly and modern.
Innovate and prosper
Innovation in digital services and digital media investment drives up a brand’s value. The Top 5 most valuable brands in the Indonesia ranking invest significantly more in digital compared to the lowest-ranked brands. Technology can make service brands more accessible, and digital communication in this mobile-driven market is essential. Brands should exploit multi-screening behavior by consumers to build layers of meaning – but should still remember the value of TV, which is immensely popular and remains an effective driver of reach.