"Genius" brands ranked on second annual Facebook IQ Index
MACY’s, Sephora, Lancôme, and Michael Kors are ranked as Facebook “Geniuses” in the second annual L2 Facebook IQ Index.
The Index, developed in partnership with Buddy Media, the social enterprise software business, measures the aptitude of 100 luxury and prestige brands across Beauty, Fashion, Specialty Retail, and Watches & Jewelry on Facebook, the world’s largest social media platform.
The study, authored by Scott Galloway, NYU Professor of Marketing, a team of experts from L2, and Buddy Media, ranks the prestige brands’ Facebook efforts across four criteria: Size & Growth, Engagement, Programming, and Integration.
Each brand was scored against more than 350 qualitative and quantitative data points, and assigned a Facebook IQ ranking of Genius, Gifted, Average, Challenged, or Feeble.
The L2 Facebook IQ top 10 remains dominated by retailers and beauty brands that have been deft at facilitating higher rates of engagement via user generated content and local page posts. The Watches & Jewelry industry has the lowest average Facebook IQ; though they record the highest engagement on their pages.
“Facebook investors have shifted the measurement stick: from promise to performance,” says L2 founder and NYU marketing professor Scott Galloway.
“Similarly, the marketing and digital professionals at prestige organisations charged with building and engaging communities on the world’s biggest platform, will face heightened expectations and scrutiny. As tomorrow becomes today for prestige execs, the issue of what, and how, return is achieved on Facebook takes centre stage.”
“We’ve seen tremendous growth by prestige brands on Facebook, specifically as they expand globally,” says Jeff Ragovin, Chief Strategy Officer & Co-Founder, Buddy Media, “The more these powerful global brands open up two-way engagement, create localised content, and amplify their efforts with social ads, the more return they will see.”
Key findings of the second annual L2 Facebook IQ Index included:
· Whilst community growth is up, engagement across prestige communities has declined, with the average interaction rate or the percentage of the community liking or commenting on brand posts declining almost 50 per cent year-on-year
· The move to the Timeline interface in and of itself does not appear to be a growth driver; Prestige brands added 125 per cent more fans in the 50 days prior to the Timeline launch, than they did in the 50 days after the mandatory switch to the new interface
· More than 20 per cent of prestige brands still do not engage in any two-way conversation and one-third prohibit fan posts on their Facebook walls
· 41 per cent of brands now maintain at least one local country page; local Facebook pages have grown at double the rate of Global and US prestige communities and register 50 per cent higher engagement
3. Lancôme (tied)
3. Michael Kors (tied)
8. United Colors of Benetton
9. El Corte Inglés
10. Estée Lauder (tied)
10. Pandora (tied)
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