The technology business has become the most lucrative in the world, dominated by brands in the communications, information, and technology sector, including Apple, Amazon, Google, Microsoft, Facebook, Samsung, and Huawei.
According to the report published by Brand Finance Global 500, the brands mentioned above are ranked as the most valuable in the Top 10 in 2022. Five are from the United States, South Korea, and China.
In the strategies to increase their fortunes, there is a similarity in how people from any country become their “allies.” In the world, every person belongs to the customer category (consumer) but simultaneously is a product.
This double circumstance is used by technology companies not only to market their physical products but also to turn these people into “paraninfos” and, through social networks, to display advertisements or persuasive messages where they publicize the products and services of their advertisers.
1. When it is a customer (consumer)
In this category, technology brands receive the money the person pays for a service or the physical product they need to satisfy their specific needs. Five of the above brands operate this way: Apple, Amazon, Microsoft, Samsung, and Huawei.
Half of Apple’s revenue comes from iPhone sales, the big driver of its profits. Bite Apple’s products also include digital content and licensing.
Microsoft, called Azure, is the second most popular cloud product accounting for 22% of the global market for remote storage, generating a third of its total sales.
Amazon is the international e-commerce leader with the most important cloud computing offerings. Jeff Bezos’ brand accounts for 40.5% of total U.S. e-commerce sales. Amazon competes with Microsoft Azure, IBM, and Google Cloud Platform products.
For its part, the Chinese brand Huawei is the world’s largest equipment manufacturer, with the best image quality in the market regarding cameras. In 2021 it briefly came in the first place, overtaking Samsung and Apple, spurred by Chinese demand and sales in emerging markets.
2. When the person is the product
In this category, instead of selling a physical product, Alphabet (Google) and Facebook (Meta) trade the attention of their audience through advertising on social networks, allowing the advertising brands to reach potential buyers en masse with great precision and free of charge. In fact, 86% of all Internet searches are conducted through Google, without charging internet users a single cent for the service.
The two categories explain, in part, the accelerated economic growth of these brands, which took advantage of the covid-19 pandemic by using information and communications technologies, not only to enrich themselves but also for global interconnection. From this point of view, it is the most important and valuable thing that technological brands have left behind.