The list of casualties of Facebook’s staggering initial public offering now includes Facebook’s position on the Brand Keys Customer Loyalty Engagement Index, as it fell to fifth place in the social networking category, after holding the top spot in February.
The Brand Keys standings, as of May 30:
Brand Keys Founder and President Robert Passikoff shared his theories behind the drop-off:
It’s completely consumer-driven. First you need be resonant enough with consumers to make the list. Then we’re able to determine how well a brand meets or exceeds expectations consumers hold for the drivers of engagement and loyalty in the category. Five months ago, Facebook was doing just fine.
Diagnostically, (Facebook) lost connection and friendly engagement in two of the four category drivers that consumers use to make decisions about where their loyalty, time, and money will go.
In social networking, they need to manage their brand within the context of Main Street, not just Wall Street, and know as much as they can about what drives their category. Or they risk consumers turning very unfriendly very quickly.
Readers: Are you surprised that Facebook’s IPO struggles are damaging consumer perceptions of its product?