New York, NY (PRWEB) September 20, 2012
September 20, 2012 – Nike and adidas captured, decisively, the top two spots in the 2012 Digital IQ Index®: Sportswear, respectively. The study, authored by Scott Galloway, NYU Professor of Marketing, and a team of researchers at L2 Think Tank, benchmarks the digital competence of 42 iconic sportswear brands.
Download an excerpt from the report: http://www.l2thinktank.com/research/sportswear-2012/
Top Ten Digital IQ’s:
3. The North Face
6. Under Armour
7. New Balance
“As traditional retail growth rates stay flat, a sportswear brand’s ability to maintain growth in margins is increasingly dependent upon its e-commerce and digital marketing skills. The biggest brands are now in an arms race to establish greater custody of their consumers via mobile and social media platforms, bypassing the retailer and traditional media properties to establish direct relationships.”
- Trickle-down economics exist: Enterprises outpace private firms and single-brand publicly traded companies, registering an average Digital IQ of 101 versus 94 and 84, respectively. The data suggests that shared technology investments and best practices benefit big and small brands in portfolio companies. adidas AG, NIKE, Inc., VF Corporation lead all enterprises in Digital IQ.
- Size matters, with notable exceptions: There is a correlation between business size and Digital IQ performance. Leading the Role Models quadrant are heavyweights Nike and adidas. The North Face, Under Armour and Vans all punch above their weight online, with higher Digital IQ’s than the size of their businesses would indicate.
- Traffic Stream Highlights Biggest Threat: Facebook drives an average of 10% of traffic to sportswear sites. However, online retail giant amazon.com is playing an increasing role in the traffic ecosystem. Amazon is a top downstream site for three-quarters of brands, averaging five percent of all downstream traffic. This reinforces the threat that consumers are price comparing on amazon.com after choosing an item on the brand site.
- Email Marketing is Undervalued: Sportswear brands have underinvested in basic email marketing tactics. Social media is more in vogue, but email still enjoys the highest conversion (4.25 percent in Q2 vs. 0.59 percent from social media). Sportswear brands averaged just 0.9 emails per week in July and August, compared to the 2.7 emails per week sent by retailers in the 2012 Digital IQ Index®: Specialty Retail.
- Tribes Status Reserved for One Brand: Facebook Engagement (percentage of community that likes, comments, or shares brand posts) in category averages 0.09 percent, on par with the larger Digital IQ Index®: Specialty Retail brands that averaged 0.08 percent engagement. Only two Facebook pages, NIKEiD and Nike Basketball have achieved “Tribes” status, registering both large communities and high engagement. Quiksilver’s Facebook page is on the cusp of achieving Tribe status.
Watch the video highlighting Key Findings: http://www.l2thinktank.com/video/digital-iq-index-sportswear/
About our Methodology
Each brand was evaluated on more than 675 data points across four dimensions: Site, Digital Marketing, Social Media, and Mobile
L2 is a think tank for digital innovation. Founded by NYU Stern professor of marketing Scott Galloway, L2 helps prestige brands navigate the digital marketing landscape through events, research, and advisory services. The L2 Digital IQ Index® is the global, seminal benchmark for digital performance of prestige brands and the largest and most robust study of its kind. Rankings are published annually across industries including Specialty Retail, Fashion, Watches & Jewelry, Beauty, Travel, and Fragrance. For more information, visit: http://www.l2thinktank.com