As per Brand Finance, TCS‘s brand value is US$16.8 bn, and the brand strength index is 83.2. Tata group got a ranking of 78th , the most valuable brand in the top 500.
An interview was conducted by Brand Finance with the Chief Marketing & Communication officer- Global Markets, TCS. Editing is done as per requirement.
“As a brand I admire – Avis – always says, when you are #2 you need to try harder!“
Congratulations on being the 2nd most valuable IT Services brand in 2022.
Over the past year, what has stood out for you to result in this
Thank you. It’s a very gratifying moment for our marketing and communications
teams, as well for all our 556,000 colleagues across the company.
While we have made significant new efforts over the past year (including signing up some major brand sponsorships like the TCS London Marathon, the Jaguar TCS Racing Formula E Team, the TCS Toronto Waterfront Marathon, and the Dutch Open
golf tournament) the reason we are at this juncture is due to c onsistent long terms efforts made over the last decade. In 2010, our brand was valued at US$ 2.3 billion by Brand Finance, ranking us at #9 in the IT Services sector. In a dozen years, hence, our brand value has grown by 730% to US$16.7 billion, pushing us to the #2 spot in the industry.
“Of course, we yet have work to do, have one more rank to climb, and remain hungry to do so.”
How important is the concept of brand value for both your external stakeholders and internal employees?
Frankly, we were relatively late converts to the concept of brand value and only have Brand Finance and your CEO David Haigh to thank for that. Like most marketing departments we measure hundreds of variables to evaluate and improve our marketing performance across multiple channels. Whether it is events, PR programs, sales enablement campaigns, account-based marketing, or sponsorships, when we put it all together, we have north of 400+ different measures of performance. As the renowned former CEO of GE, Jack Welch, used to say, “Very often we measure everything and understand nothing.”
Now, the beauty of brand value is that, in addition to everything else you do, it is a top-level overlying concept that helps any company understand how their investments in the brand and in marketing are creating a financial asset value, which
can be scientifically measured, reported to their boardrooms, and in fact used for valuations in M&A scenarios.
Hence, we can see the role of the brand plays strong importance among the consumers as well as in the market. Brand recognition is of the utmost importance for a company to push itself to the top position.
But the journey is not for faint-hearted people.