OMMA Social

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

Let’s start with a couple social media stats

Twitter has more than 175 million user accounts
Facebook has about 650 million users.
And LinkedIn has over 100 million professionals signed up.

Judging from the statistics of only three of the many social media venues, I think we can make the safe assumption that social media use is BIG. More staggering social media statistics

So, is social media impacting the way marketing and media outlets work? If it is, how should marketers and agencies react to this development? Or, is social media an over-hyped trend that will soon be outdated?

OMMA Social keynote, Antony Young, CEO of Optimedia International US and author of the book Brand Media Strategy, shares his perspectives on social media during his presentation, “Is social media in a bubble?”

Social media success tips

“Social matters to brands because of advocacy.”
If you’re not getting the results from social media, it’s probably the way you’re implementing it
- A ‘Liked’ ad is 300% more likely to solicit a buy.
Social media is starting to make us think about reaching the heavy influencers instead of the heavy users.
There is no real text book on social. You need to immerse yourself; part of it is to have curiosity.
Social is not just digital … And perhaps even becoming less digital in certain ways?

Influencers

Advocates
Detractors
- Detractors talk about your brand 4x more than anyone

Branding

Reputation management is what it’s all about
Perfect for social space
Add the following to all idea briefs “what can we say about the brand that will drive talkability”

Earned media ingredients

Anti-ads, unpaid mentions, bloggers
- Needs to be useful, real, true

Social media is a powerful force for marketers and agencies, do not write it off as a trend.

Bill Gates once said, “we always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next 10.” Do not underestimate social media: Its use is growing; it is a wise move for marketers and agencies to study its impact to leverage its use for their business incentives. Be smart and incorporate social media into your campaign.

View slides from the presentation here

Thanks for sharing your insights @antonyyoung, @MelCarson, @AmandaDeVito, @MikeDeichmiller, @JasonHeller, @URInews, @gavinthomas11

Brand ranking on Facebook at OMMA Social