Australia’s most authentic brands: ‘Amazon is already here’ | Mumbrella360 video
In the following session from Mumbrella360, Principals founder Wayde Bull reveals how he analyses Australia's most authentic brands, and which companies are making their way up the rankings in 2017.
Wayde Bull, founder and planning director, Principals agrees that ‘authenticity’ is one of those “slippery, high concept words that features very much so in the business books more than in every day customer conversations.”
Bull explains that in order to pin down authenticity, it pays to look to individuals who are considered authentic.
“People in life that are authentic, especially personalities, are relatable because they’re purposeful, they’re self-confident, they’re genuine and consistent in their actions.”
In contrast, inauthentic people are “phoney, insincere, inconsistent. Their words and their actions don’t always match up.”
Bull then reveals the list, which is topped by IKEA, and closely followed by Apple and Bunnings. Despite not even having its full offering in Australia yet, Amazon sits high at number five.
In order to calculate the authenticity of brands, Principals considers four key areas as key: virtue, value, visibility and vitality. Of these ‘v factor qualities’, “more typically, brands build their reputations and personalities out of a dominant v factor quality. A reputation usually comes from doing one thing really well.”
He points out that “Commbank, and indeed all four of the big four bank brands, are visibility leaders.”
Christine Corbett, chief customer officer, Australia Post, explains how the 208-year-old brand has a legislative obligation towards virtue: “Unlike a lot of companies, who can be fantastic at making money, or fantastic at doing social good, we are actually required to do both.”
Patrick Delany, CEO, Fox Sports Australia notes how despite attracting “seemingly so much bad press, [the ABC] clearly has a place in the hearts of Australians.”
Corbett comments that the list reflects how “consumers do switch and change, and the movement amongst the 20 can be quite profound with just one slip up.”
Bull points out that while Qantas slipped out of the top 10 for a number of years, it’s now firmly back in the top list. This shift represents the “fragile nature of reputation.”
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