The Halo Effect
Part of our series with L2on 25 September, 2015 at 10:09
It looks like search may have hit its prime. This year, 6% fewer people say they used search engines to discover brands, products, and services. This could hurt Google, which earns 90% of its revenue through search. It also raises the question: what happens to one of the most meaningful companies in history as its core business goes into structural decline?
It’s a question Chanel does not need to answer. The iconic luxury firm added $3 billion to its owners’ pockets last year by following an aggressive pay-to-play social strategy — especially on YouTube, where it was the first fashion brand to pass the 100 million view milestone earlier this year.
Digital winners can also create other winners. As Uber’s valuation increases exponentially, other unicorns may be benefiting from the startup’s dramatic rise.
Those spearheading the renovation of Saint Patrick’s Cathedral might have mastered good timing better than any startup. The intensive, decade-long project is now complete — just in time to coincide with Pope Francis’s visit.