Google continues to redefine the age we live in and to become a household name across the globe. Just 10 years ago Google was barely a glimmer in the eyes of its founders. Now according to a recent study, Google is the most valuable brand in the world.
Surpassing long-time well-established brands such as Microsoft, Coca-Cola, General Electric and Wal-Mart, Google has done so with flying colors. In 2006, Google ranked #7 in the world’s top brands. A year later, they have grown 77% in brand value, based on intangible assets that create a competitive advantage, and have jumped to the #1 spot. With little advertising and mostly relying on word of mouth, Google’s effective branding is now valued at over $66 billion.
When I stand back and look at the lifetime picture of Google, I am quite amazed by their growth in their short lifespan. At just 10 years old, many firms are still considered to be in their infancy, but not Google.
It has already been a year since “to Google” was added as a verb into the English dictionary. As I look at the other brands considered to be in the global top ten, I don’t see any verbs created specifically for those brands. When was the last time someone said “I Microsoft’d him“?
What’s next? While dipping into markets such as radio, newspapers and telecom to name a few, what is next on the horizon for Google? Without even breaking a sweat, Google is investing millions into research and development. I guess that is what a powerful brand does – spends millions and lets the world know of its purchasing power ($3.1 Billion DoubleClick purchase).
With yearly revenues of more than many small countries, Google is quickly turning into an Internet marketing monopoly. It’s hard to imagine ten years from now; how will the Google story unfold?