Market share, share prices, tech specs – these are all factors that most people quantify when assessing the performance of a business or product. But how do you equate the value of a brand with things like loyalty, reputation and credibility? There is something that we can’t explain that goes beyond skills, knowledge and qualifications; this is defined by vision.
The strength and success of a brand’s vision is a difficult thing to quantify or put a price tag on. But, we all know it’s there and feel its influence. Take for example, Apple. This is Apple’s vision statement: “Apple is committed to bringing the best personal computing experience to students, educators, creative professionals and consumers around the world through its innovative hardware, software and Internet offerings”.
The key words in here are ‘best’ and ‘innovative’. Although this may have been written nearly 40 years ago, it’s clear to see that this vision still embodies the essence of their business. Having a clear and well defined vision drives the values and culture of the organisation, manifesting into the ‘best’ and most ‘innovative’ products. This ultimately leads to creating intangible value with customers based on an emotive connection and brand loyalty, driving the reason ‘why’ we want to be part of the brand.
It is such a vision that is propelling Apple to its landmark of 50 billion app downloads. Currently increasing by about 1,000 every two seconds, the 50 billion app download mark will be the first mobile record of its kind in history. Click here to see the live countdown.
Apple App Store launched in 2008, and currently contains approx 775,000 apps for its devices. In the space of 4 years, revenue downloads, in-app purchases, and subscriptions has grown to an enormous USD$2.2 billion. The Apple App Store leads the competition in terms of earnings, equating for 74% of the market revenue. “Apps have revolutionized the way we play video games, consume news, do business, educate, communicate, create art, and so much more” Apple says.
So… why is it that we download so many Apple apps?