Just like Google, there's an algorithm to YouTube. If you're using YouTube for your business, you should know your way around those algorithms to get your videos the most visibility.
Though there are similarities, the strategy is not the same for YouTube as it is for Google. Databox said, "while backlinks are a key part of Google Search SEO, YouTube tends to rely more on engagement signals like watch time, likes, dislikes, and number of subscribers."
What is similar is keywords. You should still be doing keyword research and putting those keywords in the right places. Plus, just like long-form content does well, long videos generally perform better.
Click the link for a wealth of great information on how to rank well within YouTube!