Ipsos released its thirteenth annual study on the Most Influential Brands in Canada during a record-breaking event on February 7, 2024, where over 400 marketers attended to hear the results, while over 450 joined virtually from North America and beyond. The event took place at The Globe and Mail Centre, the beautiful event venue located in the heart of downtown Toronto, as was put on in partnership with Globe Media Group, Publicis and The Canadian Marketing Association.
Ipsos has been the author of The Most Influential Brands in Canada since 2010. As a leading independent market research company, they excel in assessing market potential and interpreting market trends. Their 2023 report polled 6,700 Canadians across generations, regions, and backgrounds to form an in-depth understanding of over 100 brands from 20 different sectors in a marketplace with roughly $15 billion spend in advertising.
Before revealing the results, Steve Levy, the author of the Most Influential Brands study, discussed the importance of influence, speaking to the role of brands in our lives, how marketing is more than just advertising, and how influential brands are worth more.
In determining the most influential brands, Ipsos uses seven main criteria: Engagement, Trustworthiness, Leading Edge, Corporate Citizenship, Empathy, Utility, and Presence. These key dimensions are the levers marketers can employ to increase their influence and connect with consumers.
This year saw some changes among the top 10 brands, with Netflix dropping to tenth and PC Optimum falling off the top ten altogether. There was also a new addition to the leaderboard – Costco jumped up to 7th place.
McDonald’s saw incredible gains, rising from 25th to 16th, only the second time they’ve crossed the top 20 threshold in the last decade. Another surprise gainer was Rogers, who, after plateauing in 65th place since 2019, suddenly jumped 29 spots in one year to land at 36th. The key to their success seems to be their acquisition of Shaw Cable – a partnership that brought them together with another iconic brand and strengthened their brand influence.
The top 10 most influential brands in Canada in 2023:
- 1 Google (-)
- 2 Amazon (-)
- 3 Youtube (+1)
- 4 Apple (-1)
- 5 Facebook (+5)
- 6 Walmart (-)
- 7 Costco (+4)
- 8 Microsoft (-1)
- 9 Visa (-)
- 10 Netflix (-5)
The biggest gainer of the year was Air Canada, who jumped 40 spots to land at 38th. The jump surprised many, as their drop following COVID seemed challenging to overcome. The study showed that Air Canada’s success could partly be attributed to their expanding in-flight entertainment to include Disney+, Apple TV+, Audible, and Hayu, and launching in-flight texting for Aeroplan members, sponsored by Bell.
As Steve Levy noted, one of the biggest takeaways from the year was the incredible power of brand partnerships. Influential brands are paving the way forward by thinking outside the box and fostering strategic collaborations. The report highlighted important lessons, including that influence is defined by impact, that artificial intelligence’s impact on influence will increase in the years to come, and that brands must create an exchange of meaningful value.
Some of the biggest takeaways from 2023 were:
- Influential brands build mutually beneficial partnerships – a collaboration that amplifies brand influence.
- Digital experience is more pervasive, immersive, personal, and with less identifiable data.
- Influential brands must develop generational harmony – connecting to audiences across different generations is imperative.
- Brands must not forget the context in which they live.
To read the complete results from the Ipsos study and how they decided which brands would make the list, click here.
Following the study results, a panel discussion delved into strategies for brands to differentiate themselves, versatility and innovation, leveraging partnerships, brand consistency and authenticity in marketing, fostering customer loyalty, and more.
The panel was moderated by Christine Saunders, CEO of Starcom Canada and CMO of Publicis Groupe Canada, with important marketing leaders in the industry, including Liza Mazurkewich, Vice President of Marketing at Subway Canada, Rachel McAdam, Vice President of Marketing at SkipTheDishes, Alessandra Bisaillon, Head of Marketing and Media Relations at Farm Boy, Irene Daley, Vice President, Marketing at Canadian Tire, and Steve Levy from Ipsos Canada.
The event ended with a keynote discussion by Hope Bagozzi, the Chief Marketing Officer at Tim Hortons, who emphasized the importance of a strong internal culture, staying true to your core values, and knowing your customers. Even during tough times, she encouraged leaning into empathy and purpose-led marketing, as this is when your customers need it the most.
Missed the event? You can find the full recording below!
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