Brand equity is the overall value of your brand. As you can imagine, some of the largest companies in the world have extremely high brand equity. According to a study by Kantar, Apple has the highest brand value in the world at $947 million. Google, Amazon, Microsoft, and a Chinese company called Tencent all round out the top five. A valuable and powerful brand can translate into real revenue and bottom-line success.
Brand equity isn’t just for mega-corporations. Brand equity can be a powerful asset for any business, regardless of size, location, or market. Nike’s iconic swoosh and “Just Do It” tagline translate into billions of dollars a year in revenue. However, strong brand equity can also be valuable for your locally-owned business.