Emerging trends for Fortune 500 companies
Branding and marketing experts Solopress have analysed the techniques employed by some of the biggest names in business.
Strategic brand visuals
When it comes to brand design, logos often sit at the forefront, immediately communicating a brand's ethos and personality. The majority of Fortune 500 businesses keep their branding accessible, consistent and instantly recognisable in all communications through the strategic use of colour, typeface and graphics. It is equally essential that their brand evokes positive sentiments, epitomised by the brand logo.
Interestingly, data from Website Planet uncovered that in 2022, a huge 60% (307) of Fortune 500 businesses including Walmart and Disney and have a ‘combination logo’, incorporating a wordmark and an icon. 155 of these companies, such as ExxonMobil and McKesson, opt for a ‘wordmark logo’ alone, giving the branding a more minimalist feel. As minimalist logos can be easily adapted to a range of platforms to tell a more consistent brand story, they hold a great deal of value when it comes to modern branding.
Of all Fortune 500 companies that use wordmarks in their logos, a staggering 73% use a Sans Serif font, due to the font historically being easier to read thus allowing a wider customer base to access brands.
Some of the biggest names using Sans Serif include Amazon, Lowes and ExxonMobil. An essential part of logo design is keeping complexity to a minimum and Sans Serif provides a clean, uncluttered typeface.
Blue is the most widely adopted logo colour among Fortune 500 companies, accounting for nearly 40% of the entire list. The colour is evocative of tranquillity, trust and stability which certainly bodes well for businesses looking to build authority and brand loyalty in 2022 and beyond.
A focus on sustainability
Forbes highlights sustainability as one of the most significant business trends for 2022-2025 and it’s evident that many of the Fortune Global 500 companies are incorporating this into their own strategies. The world’s largest companies are joining the global effort to combat climate change, with 38% of Fortune 500 businesses pledging a significant 2030 target according to a recent report from Natural Capital Partners.
There has also been a 50% increase in the number of companies that have either achieved carbon neutrality or are targeting it by 2030, and a 25% increase in science-based targets and net-zero efforts.
86% of Fortune 500 companies’ net-zero goal is set for after 2030, however, one-third of those are already carbon neutral or have an immediate carbon neutrality goal, helping to support the current global consensus and tackle the environmental crisis.
Amazon is certainly publicising the fact that it’s prioritising sustainability in 2022. The company has stated that it will power its operations with 100% renewable energy by 2025 and reach net-zero carbon emissions by 2040. In addition, they have ordered over 100,000 fully electric delivery vehicles to minimise emissions and launched the Climate Pledge Fund, a $2bn fund to actively support companies whose products and services will facilitate the transition to a low-carbon economy.
Interestingly, in an effort to repair their compromised reputation when it comes to environmental matters, Volkswagen wants to let the customer take the wheel. The company aims to deliver an entirely electric model fleet as well as moving towards carbon-neutral production. claiming that “unavoidable emissions during the manufacturing phase will be successively reduced and balanced out through certified climate projects until they have been entirely eliminated.”
Authenticity and purposefulness
Customers are far more likely to trust and purchase from brands that are purpose-driven according to a recent study conducted by Porter Novelli. However, as customers become ever more aware of modern marketing techniques, brands can no longer afford to be inauthentic, or to evade practicing what they preach.
Perfectly highlighting this essential combination of authenticity and purposefulness is Beijing-based Internet services and retail company JD.com, ranked highly in the 2022 Fortune Global Most Admired Companies Industry List. Their corporate social responsibility policy references that they are “committed to integrating social resources for social good, with focuses on poverty alleviation, disaster relief, education, environmental protection and social innovation”, which is certainly evidenced in their community efforts.
The company has taken huge strides to aid flood and disaster relief in the past year, as well as aiding efforts to transport essential supplies to people in stricken locations.
JD.com has also created a significant number of job opportunities for young people. It has provided almost 40,000 jobs and promises to recruit more than 20,000 college graduates in 2022. In addition, the company plans to launch staff welfare measures including a “housing plan” and “employee assistance fund”. All the while, JD.com has maintained its global competitiveness. Its supply chain network now reaches more than 220 countries and regions, helping more and more Chinese brands to go global, thanks in part to its consistent brand equity.
Diversity, equality and inclusion
In 2022, there is no longer room to ignore the current focus on inclusion in business. We’re currently seeing Fortune 500 businesses Lowe’s, PwC and Herman Miller lead the way when it comes to diversity, equality and inclusion. Hopefully these prominent companies will inspire smaller businesses to step up to the plate and adopt a fairer and more thoughtful approach.
Hardware retailer Lowe’s invited small, diverse businesses to pitch their products for a chance to be sold through their 2,200 retail locations. In addition, they offered mentorship, a £50,000 grant and further support to help their businesses to grow and connect with new consumer audiences. 1,300 submissions were sent to Lowe’s in the first year and eight businesses of varying backgrounds were selected to receive the support. Cintas, Major League Baseball and Ariel Investments are among other big names that are showing supply chain diversity by forming contractual relationships with minority firms.
In an effort to support diversity, equality and inclusion, PwC also state that 31% of every reportable dollar spent is with diverse suppliers and they plan to increase this share to 40% in the coming years.
Ensuring diversity in the wider industry, design and furnishings leaders Herman Miller initiated the Diversity in Design Collaborative, including Adobe, Levis Strauss and Fossil Group, in order to tackle the ongoing lack of representation of black creatives in design. Initiatives such as this not only contribute to a more inclusive future but also demonstrate a brand’s genuine commitment to making a difference.
It seems that Fortune 500 brands are setting their sites on corporate social responsibility and clear communication of values in 2022. Themes of trust, authenticity and sustainability are evident across the board in terms of the image these big brands are keen to project – through company values; branding and mission statements. With sustained commitment, these companies can successfully align their practices with their declared values and set the tone for businesses of all sizes looking to make strides in 2022.