Today at Tamar we’re launching the 3rd infographic in our BrandLove series, “Britain’s Best Loved Digital Brands” – the 2012 edition. Like the first infographic in our BrandLove series, the table ranks pure-play digital brands using Tamar’s proprietary algorithm which combines social community sizes and annual revenue to calculate our “love” metric. We’re especially excited this year because in addition to Facebook and Twitter, we’ve also included brand communities on YouTube, Pinterest and Instagram.
At Tamar our mission is to create digital brand legends, amplifying the power of consumers who don’t merely ‘like’ brands, but truly ‘love’ them. With Facebook’s implementation of the engagement-driven open graph, it’s important for brands to be loved, now more than ever before. It’s no longer good enough, if it ever was, to simply build thousands of ‘likes – high levels of engagement are key for visibility and influence across social media platforms. Furthermore, with digital comes international and those who make their presences known globally and engage with worldwide audiences in their local markets will reap the rewards – not to mention the profits.
With so many brands, platforms and media competing for consumer attention these days, being merely ‘liked’ most certainly means being “out of sight, out of mind”. It’s essential to begin cultivating interactive social communities that love your brand and serve as brand ambassadors, facilitating engagement levels and bringing even more fans into the community, valuable fans – the kind that money can’t buy.
We weren’t surprised that ASOS tops the BrandLove25 forthe 2nd year running but it has been interesting to see several new brands appearing on the table this year. This time around we’ve kept a keen eye on growth and how social media has played a part in the year-on-year performance of the British digital brands that are out-performing this tough economy at a time when familiar high street chains are closing their doors on what seems like a daily basis.
Out of the 25 brands on the BrandLove25 league table this year, Missguided had the highest YOY growth of an impressive 380% and the majority of them grew more than 20% in the past year. After a closer look at some of the fastest growing brands on the BrandLove league table including Missguided, Wiggle, Boohoo and Secret Sales, we found that most of these fast growing brands, unlike the others on the table, are using YouTube and several of them are ‘early adopters’ of the popular emerging platforms Pinterest and Instagram.
In contrast, we were very interested to find that the brand on our league table with the smallest social community achieved the smallest amount of year-on-year growth. With the wide acceptance and acknowledgement of the importance of social media conversions to generate online sales, those brands who have not adapted their marketing plans are clearly beginning to suffer and may eventually render themselves irrelevant to consumers. Without the benefit of brand advocates in the social media space, there’s no way to compete for the patronage of potential customers who are influenced most through social media.
Though many brands on this table have higher revenue figures than the four mentioned above, their future survival will ultimately depend on maintaining high year-on-year revenue growth. Judging by what we’ve seen in our analysis, fast-growing brands like Missguided are gaining on them – and they’re using social media to do it.Tweet