A Model for Evaluating Facebook Pages and Competitive Analysis
During a recent webinar from Covario, over 100 digital marketers were asked what the main goal of their Facebook page is. The results aren't surprising. In general, driving sales is the No. 1 priority of digital marketers’ social media programs. However, 45 percent of the respondents said driving engagement and brand awareness is their top priority.
This is important because as much as we'd like to be able to benchmark advertisers based on their ability to drive sales via Facebook, that data typically isn't available to the public. Therefore, competitive benchmarking must be done on advertisers’ behalf to drive soft metrics like fans and engagement relative to their overall brand presentation on Facebook.
Covario recently benchmarked the top 100 advertisers (using the latest Advertising Age ranking of total ad spend) based on a series of factors to measure their Facebook presence, also known as Facebook presence score (FPS).
Coca-Cola ranked No. 1 on the weighted model at the core of the study. The model looked at the advertiser's reach (i.e., number and growth of followers), engagement (i.e., monthly posts, likes, comments and applications), technical construction (i.e., brand name usage, link to a brand website, use of the word “official,” etc.) and reputation (i.e., particularly negative user sites found when conducting Facebook searches for a brand).
FPS scores ranged from 0 (worst) to 100 (best). Coca-Cola won with an overall score of 100, two points higher than second-place finisher Hyundai. Rounding out the top five brands were MTV (Viacom), Disney and Bayer.
Within a brand's overall FPS, reach is the most highly weighted factor at 40 percent. Engagement is next at 30 percent, followed by technical considerations (20 percent) and reputational factors (10 percent).
It's not surprising that Coca-Cola topped the list. It has a huge Facebook fan following of more than 34 million. That's combined with a solid engagement strategy, which includes offering enthusiasts more than 25 different apps to enjoy as well as biweekly posts that are garnering an average of 236 comments and 1,749 likes each. Plus, Coca-Cola's Facebook page is technically optimized and there are no negative pages showing up in search results for the brand.