You might be number one, but if someone is developing more rapidly than you, you will likely fall behind shortly. This is also true for tech companies. That’s why besides absolute metrics, we have to take a look at relative ones. In this regard, according to TradingPlatforms, YouTube is considered the second fastest-growing brand. It has a growth rate of 83%. In fact, this social platform performs well because it allows businesses to showcase their products and services creatively and engagingly.
TradingPlatforms’s financial analyst Edith Reeds says, “YouTube has managed to become one of the most popular social media platforms with over two billion active monthly users. The platform has something for everyone, whether it’s music, gaming, education, or entertainment. YouTube offers businesses a unique opportunity to connect with consumers on a personal level and create long-lasting relationships.”
Further reading: YouTube Ad Revenue Growth Slows Down
Fastest-growing Brands Worldwide
As for number one, Cartier left all others behind. Its annual brand value growth reached 88%. In the third position, we have Google with 79% growth. Tesla was fourth with 78%, and Hermes Paris ranked fifth with a brand value growth of 73%.
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Apart from the mentioned five, there are other interesting names in the top 10. For instance, the list includes Louis Vuitton (64%), LinkedIn (63%), Tata Consulting Services (61%), Bank of America (60%), and JPMorgan (55%).
This number might grow in the near future as the company is looking for new ways of increasing its dominance in the social media landscape. YouTube has already demoed some new features that will be live soon. Among them, we should mention the new feature allowing vendors to sell their products directly to consumers via their YouTube videos.
There will also be a new messenger to connect businesses to their customers.
Thus, YouTube will become an even more powerful marketing tool for businesses in the future. With these features, its large customer base, and other factors, YouTube has all chances to rank first in terms of the fastest-growing brand rate.