Macy’s boasts that it is “the world’s largest store,” and now, the department store chain can also boast having the highest “Facebook IQ” following the release of the second annual L2 Facebook IQ Index from L2 and Buddy Media.
Digital think tank L2 and social ad-management software provider Buddy Media rank more than 100 luxury and prestige brands in the categories of beauty, fashion, specialty retail, and watches and jewelry, using more than 350 qualitative and quantitative data points, and those brands are then assigned ratings of genius, gifted, average, challenged, or feeble.
The top 10 brands in this year’s annual L2 Facebook IQ Index were:
- 1. Macy’s
- 2. Sephora
- 3. Lancôme (tied)
- 3. Michael Kors (tied)
- 5. IWC
- 6. Smashbox
- 7. Swarovski
- 8. United Colors of Benetton
- 9. El Corte Inglés
- 10. Estée Lauder (tied)
- 10. Pandora (tied)
And the bottom 10 (feeble?) were:
- 90. Raymond Weil
- 91. Donna Karan
- 92. Van Cleef & Arpels
- 93. MaxMara
- 94. Ermenegildo Zegna
- 95. Rolex
- 96. Baccarat (tied)
- 96. Harvey Nichols (tied)
- 98. DeBeers
- 99. Printemps
- 100. Patek Philippe
Some general findings from the report included:
- Community growth is up, but engagement across prestige communities is down, with the percentage of the community liking or commenting on brand posts declining nearly 50 percent year-over-year.
- The move to timeline does not appear to be a growth driver, as prestige brands added 125 percent more fans in the 50 days prior to timeline’s launch than they did in the 50 days after the mandatory switch to the new interface.
- More than 20 percent of prestige brands still do not engage in any two-way conversation, and one-third prohibit fan posts on their Facebook walls.
- 41 percent of brands now maintain at least one local country page, and those pages have grown at double the rate of global and U.S. prestige communities, registering 50 percent higher engagement.
L2 Founder and NYU Marketing Professor Scott Galloway said:
Facebook investors have shifted the measurement stick: from promise to performance. Similarly, the marketing and digital professionals at prestige organizations 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 center stage.
Buddy Media Co-Founder and Chief Strategy Officer Jeff Ragovin added:
We’ve seen tremendous growth by prestige brands on Facebook, specifically as they expand globally. The more these powerful global brands open up two-way engagement, create localized content, and amplify their efforts with social ads, the more return they will see.