Facebook IQ - a report on how prestige brands are utilizing Facebook

L2, a think tank for Digital Innovation located in NYNY, released their L2 Prestige 100® Facebook IQ, a report that details the top 100 prestige brands and how they drive their Facebook success.
 
The report that was conducted in partnership with Buddy Media, measures the aptitude of these 100 brands that are in the Auto, Beauty, Fashion, Watches & Jewelry, and Spirits & Champagnes industries.The Index scores each brand against more than 200 qualitative and quantitative data points to evaluate and rank their Facebook efforts across four criteria: Size & Growth, Engagement, Programming, and Integration. Basically it provides details and thoughts about how they are doing it right.

Ultimately the study demonstrates that when it comes to Facebook it is all about engagement, allowing and encouraging interaction. It is also important to be prepared to deal with all the challenges that engaging with an audience on an openly displayed platform will bring. The study also demonstrates how prestige brands can leverage the power they have created to inspire consumers to align with their products. 

The question of Glocal, how do you balance the global presence of a company but build a local following is also part of the learning with this study. "Across the Prestige 100®, 40 percent of brands maintain regional pages to target local markets and/or locally targeted posts, while 60 percent anchor efforts around one global Facebook page."

Making money through Facebook will take on a whole new meaning with the launch of iframe tabs that can be added to Pages to allow for Buy Now capability.  "With the advent of Facebook iFrames, the growing experimentation of mass retailers, and search for ROI, F-com is likely to see a great deal of investment on the platform over the next 12 months."

If you are interested in learning more about how you can truly  benefit from Facebook, I recommend reviewing this study. And if something inspires you, please remember that all of these Facebook initiatives began with a clearly developed strategy -- a plan with clear objectives and set tactical directions about how to achieve those objectives. Don't just jump into Facebook as a marketing tool, plan your way into it.