Facebook Still Ranks Highest in 'Social Value' for Luxury Brands

With so many new social apps and online platforms and e-commerce sites popping up every day, veteran platforms like Facebook can start to look stale and irrelevant by comparison. Turns out Facebook is actually still a force to be reckoned with, especially when it comes to what it can do for brands.
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With so many new social apps and online platforms and e-commerce sites popping up every day, veteran platforms like Facebook can start to look stale and irrelevant by comparison. Turns out Facebook is actually still a force to be reckoned with, especially when it comes to what it can do for brands.
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With so many new social apps and online platforms and e-commerce sites popping up every day, veteran platforms like Facebook can start to look stale and irrelevant by comparison.

Turns out Facebook is actually still a force to be reckoned with, especially when it comes to what it can do for brands. WWD reports on a new study by NYU's Luxury Lab, L2, which ranks the value of social platforms of all kinds, from Facebook to Sina Weibo to Snapchat.

“Effectively, right now Facebook is the most innovative media company in the world, Maureen Mullen, L2 director of research and advisory, told WWD. "The ability they’ve shown to be nimble around rolling out new products in the marketplace is staggering. Despite the flack they’ve gotten from the IPO, there’s a lot of reasons to suggest it isn’t going away anytime soon.”

One big reason Facebook is killing it is mobile. Increases in mobile advertising dollars are what helped the company post a $333 million profit, reversing year-ago losses of $157 million. Mobile ads made up 41 percent of the company’s $1.6 billion in ad revenues--thanks in large part to the company's ability to charge as much for mobile ads as they do for online ads--which is pretty uncommon.

Another reason is Asia. According to the study, Asia has Facebook's largest user base, and users there are more than twice as engaged as those in North America--meaning Facebook is an ideal resource for brands looking to increase exposure in Asia (which, like, all of them are).

We were also surprised to learn from the study that engagement on Vine is still higher than Instagram--even though the latter has more users, and, of course, video. For the month of July, Vine’s overall interaction rate (combining likes and comments) was 1.24%, versus Instagram’s 1.06%.

The lesson of the story being: Just because something new comes along doesn't mean the original isn't still relevant.