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Brand ranking on Facebook at OMMA Social

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L2 Prestige 100 Facebook Index evaluates 100 prestige brands on Facebook

  • Facebook is a powerful communications platform connecting people worldwide.
  • Out of 662 million users on Facebook, 50% log in everyday and 40% follow brands
  • 70% of 662 million people on Facebook are outside of the U.S.

With such a broad reach, it is crucial for brands to establish a presence on Facebook.

This OMMA Social presentation looks at the L2 Prestige 100 Facebook Index, a study that evaluated how 100 prestige brands rank on Facebook. Using 200+ data points, this study found how auto, drinks, fashion, and other branded goods establish their presence and are viewed by consumers on Facebook.

New York University Professor and founder of L2 Scott Galloway and Michael Lazerow, CEO of Buddy Media, presented the findings from the Index.  Use these insights to successfully market your brand on Facebook.

Social media platforms

  • Sometimes you need to take a leap of faith with social media platforms.
  • F-Commerce – purchases via Facebook – will be the single-largest source of eCommerce over the next 2 years, which certainly means many consumers will be looking for promo codes (you can read more here about what sorts of promo codes are available)
  • Posting new product highlights are returning the highest rates of interaction for big brands on Facebook (21%)
  • Digital and wealthy households go hand-in-hand

Branding on Facebook

“Facebook and digital are the equivalent of skinny jeans. They make corporations look younger.” – Prof. Galloway

  • the number of your brand’s Facebook fans should directly correlate with brand equity
  • Your Facebook likes should be correlated with your branded search queries
  • F-commerce will be largest digital store in the next 2-3 years
  • The number of likes on your Facebook page means nothing unless you are engaging in 2-way communication
  • Customized local content wins by 5x over global branding – global brands need to be local
  • The best way to signal innovation is to do innovative things in the digital space
    • Do something online and specifically for Facebook

How the L2 Index works

  • L2 is collecting 250 data points for brands in social media and assigns an IQ: Genius, Gifted, Average, Challenged & Feeble
  • Feeble ranking example: Spirits (as in alcohol) because they are run by old-school European men who are hoping social media will go away
  • Facebook IQ is a primary driver of shareholder value

How brands measure up

  • BMW ranks number 1 on L2 Facebook IQ study – 6.2 million Likes
  • Clinique ranks 2nd with 1.3 million Likes
  • Bare Essentials on Facebook: tons of peer-to-peer conversation about makeup
  • Average ranking = Cartier, even though it has huge brand equity and passionate fans. But they aren’t trying; they don’t get it.
  • Burberry has more fans on Facebook (7.3 million) than the global circulation of Vogue
  • High fashion brands opt for Facebook vs. popular fashion mags

Females and Facebook

  • Female leaders of fashions brands are embracing social far quicker than their male counterparts
  • Fashion companies are successful on FB – they’re run by women who are innovators, not old guys who inherited their top positions
    • Female-led prestige brands more open to digital
  • In luxury sectors, there’s a direct correlation between innovation and female leadership
  • Firms run by women have an advantage by leveraging social

Tips for brands

  • Not enough for brands to have big FB fan count; need to engage in meaningful dialogue with that audience for it to be valuable
  • It’s social media, not social broadcasting: Measure dialogue, not number of fans

The L2 Prestige Facebook Index shows that Facebook is a powerful medium for brands. It has the ability to drive a campaign that can make or break a brand. Further, it has the ability to form a lasting impression in the mind of the consumer.

Professor Galloway said that in 3 years Facebook will be the most valuable company in the world. With the power to influence the consumers via Facebook campaigns, what do YOU think … Is he right?

Download the L2 Prestige 100 Facebook Index

Thank you for your input @Profgalloway, @DownTownMag, @PublicSocial, @GannettDigital, @mediasoup, @followBEC, @irinaskaya, @dberkowitz, @socmedsoc, @neilglassman, @rhydianfisher, @jennyjmuller, @cpealet, @MediaPost

Earned media vs paid media – OMMA Social

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What kind of media do marketers need to invest in to be successful at earned media, as in blog mentions, non-advertising?  To succeed at earned media (giving people brand experiences that they willingly share, think viral), marketers have to invest in paid media (such as advertising), too.  But, things are changing because the social media climate is constantly evolving.  Questions need to be asked:

  • Is it still wise to buy portals, or does buying inventory on an ad exchange for niche targets provide better ROI?
  • How has the practice of seeding changed with the explosion in new platforms, from Twitter to mobile?

This OMMA Social panel looked at how to convert dollars into social media-generated distribution.

Moderator Alan Wolk, Managing Director, Social Media Strategy, KickApps

Tom Troja, Founder, Social Symphony

  • What is “earned” is hard to define, paid is well-defined, because it’s an older model. Extending the old model into “earned” is too limited.  Need people to co-create media.
  • We don’t have to wow you; we want you to feel closer to our brands. If you’re going just for entertainment, you are missing something. Follow more of a consultative sales model.

Kristine Shine, VP, PopSugar Media

  • PepsiCo is using both earned and paid media to bring brand to a new level.

Tom Troja, Social Symphony

  • One of best things Pepsi did that was earned was not buying Super Bowl ads

Josh Warner, President, Feed Company

  • You have to earn it: No one can can guarantee a viral video, a video may have potential.
  • Level of branding affects engagement level: Don’t overdo it.
  • Can package around the content, you don’t have to push the brand too hard.
  • “Unbuttoned Films” sponsored by Levis: People 4 times more likely to share engagement content when not pushing brand overtly.

Tom Troja, Social Symphony

  • Brands need to be ahead, not put themselves at the forefront of the conversation.
  • When people think about “joy and happiness,” they think of BMW, thanks to that campaign.

Kristine Shine, PopSugar Media

  • PR firms are ahead of agencies when it comes to balancing paid and earned media.
  • Barbie Facebook posts: “Barbie & Ken are driving up to Malibu to go to the beach, what should she wear?” You should see the engagement!
  • Have you ever heard the term “Prom King Brands”? Like Pepsi, Starbucks, Nike, etc.? Actually a pretty good description.

Josh Warner, Feed Company

  • Viral will be a retired term next year, it’s really about creative marketing.
  • Whether it’s paid or earned, it’s going to cost money, so budget for it.

Richard Jalichandra, President & CEO, Technorati Inc.

  • Earned media is more likely to be evergreen, last longer.

Brands should work on creating a strong brand in the mind of the consumers and balance energy and money between earned and paid media. For more on influencing earned media makers, join us at Newport Interactive Marketers next gathering.

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