New York, NY (PRWEB) June 02, 2011
BMW took the top slot in the new L2 Prestige 100®: Facebook IQ. The index measures the aptitude of Prestige 100® brands across Auto, Beauty, Fashion, Watches & Jewelry and Spirits & Champagnes on the world’s fastest growing communications platform, Facebook. The study was authored by Scott Galloway, New York University Clinical Professor of Marketing and founder of L2, in partnership with Buddy Media, the Facebook management system of choice for eight out of the ten top global advertisers. It evaluates and ranks the Facebook efforts of prestige brands across four criteria: Size & Growth, Engagement, Programming and Integration. Each brand was scored against more than 200 qualitative and quantitative data points, and assigned a Facebook IQ ranking of Genius, Gifted, Average, Challenged or Feeble.
Auto and Beauty brands leads the way, nabbing the top seven spots overall and registering the highest average IQ’s across all four criteria. The Watch & Jewelry industry, which has approached digital with reluctance, boasts the lowest average Facebook IQ.
Complete Index Results: http://bit.ly/L2FacebookIQ
5. Bare Escentuals
7. Bobbi Brown
8. Johnnie Walker
10. Tory Burch
“Every few decades, the prestige industry experiences a seminal moment where a breakthrough channel, marketing innovation or product reconfigures the landscape,” says L2 founder and NYU marketing professor Scott Galloway. “Prestige marketers are making significant investments in Facebook growth, but many still fail to authentically engage with their fans.”
“While many of the brands featured in the L2 and Buddy Media Facebook IQ Index have made tremendous progress on Facebook, there is still an enormous opportunity in front of them to use Facebook to grow their businesses,” said Michael Lazerow, founder and CEO of Buddy Media. “This first of its kind Index will help prestige brands assess how their Facebook marketing efforts rank against their competitors, so they can focus on standing out from the crowd.”
Key findings include:
- Twenty-percent of prestige brands do not allow fans to post on their wall(s); these brands posted average IQs of 82 versus an average IQ of 107 for brands allowing wall posts.
- Analysis of more than 800 brand wall posts demonstrates that posts about products garnered the highest interaction rates across the study. Posts around contests and promotions registered the lowest interaction rates.
- Prestige Facebook efforts are poorly integrated across digital platforms. Just over half are promoted on brand sites through share technology, and only 29% incorporate the open graph “like” API.
- None of the Prestige 100 currently engage in Facebook commerce. It is predicted this will be the area of greatest investment over the next 12 months.
Describing the Index’s potential value to prestige marketers, Scott Galloway says, “Facebook aptitude will be one of the defining competencies that separates winners from losers when it comes to prestige brands. Our ranking aims to provide an actionable metric that prestige executives can use to determine where they will garner greatest return on incremental investment on the platform.”
L2 is a think tank for digital innovation. Founded by NYU Stern professor of marketing Scott Galloway, L2 helps brands navigate the digital marketing landscape through events, research and advisory services. The L2 Digital IQ Index® is the largest and most robust study of its kind. Rankings are published annually across industries including Pharmaceutical, Luxury, Auto, Specialty Retail and Travel. For more information, visit: http://www.l2thinktank.com
About Buddy Media
The Buddy Media Platform is the Facebook management system of choice for eight out of the ten top global advertisers. With its scalable, secure architecture and straightforward administrative tools, it is the only solution that allows brands to launch, maintain and measure their Facebook presence in any country and in any language. Buddy Media shares four investors with Facebook and was one of the first companies selected by Facebook as a preferred developer partner. The company is backed by WPP, Softbank Capital, Institutional Venture Partners, GGVC, Greycroft Partners, Facebook investor Ron Conway, Facebook board member Peter Thiel, Zynga founder and CEO Mark Pincus, Roger Ehrenberg, and others. For more information, visit http://www.buddymedia.com.