Critical to the success of any brand is the ability to empower people by making a difference in their lives, and how these customers spread the name of the brand to others. Successful brands, like the ones in the 2014 BrandZ™ Colombia valuation rankings, are characterized by meeting their customers’ needs and being more appealing than their competitors. They are also characterized by being different, and being top of mind when consumers think about what they need from a product or service.
The most successful brands in
Colombia are found across different
industries including oil, mining,
alcoholic beverages, financial services,
grocery stores, and communication
providers. Their contribution to the
unprecedented economic growth of
Colombia accounted for 23% of total GDP
in 2013. These brands shape the local
economy by offering goods or services that
consider culture, traditions, and social,
physical, and economic characteristics
unique to Colombians, in contrast to their
European and American counterparts.
Advertising spending in Colombia totals
8 billion Colombian pesos. The industries
that invested the most in advertising
during the time span of this report
were retail and tourism, personal care
and beauty, food and confectionery,
telecommunications, beverages and
tobacco, and financial services, totaling
57.5% of total advertising expenditure.
This comes as no surprise since these
industries are the same ones that fall in
the top ten of this year’s BrandZ™ ranking.
Considering that Colombia has one of the
highest internet penetration rates in Latin
America, it comes as no surprise that
consumers are using their internet-enabled
cell phones when shopping. During the
third quarter of 2013, internet penetration
reached 9.51 million subscribers, while
mobile communications reached 50.25
million, surpassing the country’s population.
In the coming years, according to FENALCO,
Colombians will be more aware of the impact
of their purchase choices, with the potential
impact of this being seen in ecological,
health, satisfaction, and loyalty aspects.
TIGO, a cellphone provider, is penetrating
the Colombian market by reaching new
segments including small businesses, as
well as increasing its investment levels.
They aim to become the second largest
operator in Colombia. TIGO stand out in the
local market for giving their customers the
opportunity to have pre-paid cell phones,
to access the web when needed, and by
offering flexible plan options. This makes
TIGO a brand that is very different from its
competitors, since the variety of options
for customers has a broader appeal to
a younger segment of users looking for
flexibility from a cell phone provider.
of leading brands
The most valuable brands in Colombia are
characterized by being financially strong, delivering
good customer service, and prompting positive
feelings among Colombians. For example, given the
quality of their practices and the transparency of its
management, Ecopetrol is recognized by BrandZ™ as
one of Colombia’s most valuable brands. It is also the
most preferred place to work for Colombians and a
front-runner given its technological developments.
Bancolombia, the largest bank in Colombia, has
remarkable brand equity indicators, mainly because
of its fundamental pillars: to be available in every
Colombian region, which provides a higher Meaningful*
level, a communication platform that emphasizes
Colombian cultural assets, and a patriotic message
that works well within the consumer banking category.
A few months ago, Bancolombia was highlighted as
the most trusted local bank, a brand with a portfolio of
high integral value, and efficient management of their
Aguila is the beer of choice for Colombians and stirs
emotions connected with Colombian icons such as the
national soccer team. It is a brand with a historically
consistent communication platform, similar to
Bancolombia’s, tapping into Colombian patriotism with
messages about the greatness and importance of the
Colombian people’s cultural roots and their ability to
smile despite the difficulties.