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Rival IQ Social Index_benchmarking high-end department stores_Q1 2015

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The RRI is a comprehensive analysis, scoring and ranking of a group of organizations in a specific industry on social media, in this case High-end Department Stores.

• The RRI is designed to provide a competitive and data-driven view of a market across key social media measurements, including presence, audience, activity, engagement, potential reach and top social content.

To do your own analysis, get a copy of the Landscape here - http://bit.ly/1EB16pS

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Rival IQ Social Index_benchmarking high-end department stores_Q1 2015

  1. 1. Retail: High-end Department Stores Q1 2015 The Rival Results Index (RRI)
  2. 2. What is the Rival Results Index? • The RRI is a comprehensive analysis, scoring and ranking of a group of organizations in a specific industry on social media. • The RRI is designed to provide a competitive and data-driven view of a market across key social media measurements, including presence, audience, activity, engagement, potential reach and top social content. • The RRI program, related processes and scoring is managed by Rival IQ, a digital marketing analytics firm based in the United States. All data for the RRI is based on the Rival IQ digital marketing analytics software.
  3. 3. RRI Scoring Categories Social Presence On which social networks is the company present with a valid handle and profile. Has created correct handles, such as a Company Page versus Personal Profile. Scoring gives 1 point each for four channels: Twitter, Facebook, Instagram and Google+ plus an extra point for LinkedIn or YouTube presence. Social Audience Aggregate number of "followers" or "fans" across the top 6 social networks. Social Total Engagement The total number of engagement actions across all tracked social channels for the Q1 2015 period (January 1 to March 31, 2015). Twitter Mentions Potential Reach How well are these companies doing influencer marketing on social media and how do those influencers on Twitter extend their potential reach? Rival IQ pulls the top 50 mentions per day per company based on mentioner follower count. Average Engagement Rate - Twitter The average number of interactions (retweets and favorites), per thousand followers, of this company's tweets during Q1 2015. Average Engagement Rate - Facebook The average number of interactions (likes, comments, and shares), per thousand page Likes, of posts on this company's Facebook page during Q1 2015. Average Engagement Rate - Instagram The average number of interactions (likes and comments), per thousand followers, of posts on this company's Instagram during Q1 2015. Top Social Content Number of top 50 posts over Q1 2015 ranked by Engagement Rate, across Twitter, Facebook, Google+ and Instagram (max 200 total posts).
  4. 4. RRI Scoring System: Max of 40 Points Possible Total Score Social IQ Classification Detail 33 to 40 Superior Social IQ The Rival to beat (and emulate). Follows best practices in social media. Presence across at least four major social networks, with strong audience, activity and engagement. Consistent top content across top two channels for this Landscape, Twitter and Facebook, and extending reach and engagement to other channels. 25 to 32 High Average Social IQ Ahead of the pack. You’re doing great, and headed in the right direction. You adhere to most best practices. Presence across at least three major social networks. Strong audience, activity and engagement, but not always consistent. A bit more work (and potentially learning from the higher IQ players, could lead to a superior IQ). 17 to 24 Average Social IQ Middle of the road social player. Present on social networks but not following best practices or optimizing that presence. Inconsistent activity and engagement. You need to increase all areas of social media activity. Focus on a strong, consistent presence with logos, branding and positioning aligning. Build your audience with more loyal fans and learn what content is more engaging. Emulate the higher IQ players in your market. 9 to 16 Below Average IQ You are there but not really. You have some handles on some networks, but your presence is inconsistent at best and your activity is lackluster. You need to make a decision of go or no go. Are you in this game or do you want to stay on the sidelines? You need to basically start over with your strategy. Establish better presences on top networks, build your audience through organic and paid mechanisms, start increasing your activity with engaging content for your audience, etc. If you don't have someone dedicated to social media on your team, hire them. 8 and lower Extremely Low Social IQ You barely have a pulse on the social media landscape, and your competition does not see you as a rival. Get some training, hire staff or find outside resources to help you.
  5. 5. The Department Store RRI For each of these organizations, the RRI analyzed the social handles relevant to this brand only. Parent companies or associated organizations were not included.
  6. 6. Qualifications for this RRI • High-end Department Store: Must have at least one physical retail location and be considered a top department store selling high-end fashion. • Social Network Presence: Minimum presence on Twitter, Facebook, Instagram and Google+. • Minimum Social Audience: 500,000 • Social Activity Level: At least 5 social postings per day on the main social networks being tracked. To be included in this RRI evaluation, the retail organization had to meet the following qualifications: Expert source: Validation of high-end department stores was found in both International Business Times and Forbes.
  7. 7. Social Media Networks for the RRI For this business-to-consumer (B2C) landscape of retail high-end department stores, we focused on the following social networks: • Facebook • Instagram • Twitter • Google+ • YouTube and LinkedIn were included for cross-channel evaluations
  8. 8. Top Social Media Networks for B2C 3% 15% 41% 42% 48% 57% 60% 83% 93% 97% 85% 59% 58% 52% 43% 40% 17% 7% Snapchat Tumblr Pinterest Google+ LinkedIn Instagram YouTube Twitter Facebook Important to Critical Somewhat or Not Important Source: Social Media Trends 2015 Research, Rival IQ
  9. 9. Market Analysis  A lot of social media best practices and “standards” are being missed by these huge department stores that spend millions on advertising. They are missing the viral value of social media.  No eCommerce connection between their Instagram or Facebook pages and online stores. Big gap! They are only posting content, and not leveraging product images or content with potential purchases.  Most brands do well on only one or two channels but are not consistently focused across channels or leveraging content or messages across channels. They should all be rocking Twitter, Instagram and Facebook – at least.  No pattern or consistency in how much or when they post on different channels.  Higher focus on building audience and activity (posting) rather than engagement.
  10. 10. Biggest Surprises  Really low engagement on Twitter and Facebook. On Twitter, part of this is the lack of using images. Stores are posting frequently but not focused on engagement with their social audience.  Hashtag abuse or lack of use overall. This is a huge issue on all channels, including Instagram, which is an extremely hashtag-centric network.  Lack of social profile optimization or consistency. There are minimal to no product links, hashtags or branding consistency across channels. Even for sister companies, there is no cross-brand consistency.  No connection or link to sub-brands or partner brands. For example, stores are not using product brand Twitter handles to tie the two brands together. This is true even for Nordstrom, who scored the highest Social IQ. In doing so, they are missing the influence and extended reach of these other brands.
  11. 11. RESULTS: RRI High-end Department Stores Nordstrom is the one to watch and beat! The only one with Superior Social IQ. 40 Maximum Potential Score Total Score Social IQ Nordstrom 35 Superior Social IQ Macy's 30 High Average Social IQ Harrods 29 High Average Social IQ Neiman Marcus 25 High Average Social IQ Saks Fifth Avenue 24 Average Social IQ Bergdorf Goodman 23 Average Social IQ Bloomingdale's 23 Average Social IQ Barneys 22 Average Social IQ Lord & Taylor 22 Average Social IQ Henri Bendel 21 Average Social IQ LUISAVIAROMA 19 Average Social IQ Dillard's 16 Below Average Social IQ
  12. 12. DETAILED SCORES: RRI High-end Department Stores Social Presence Social Audience Social Total Engagement Twitter Mentions Potential Reach Average Engagement Rate - Twitter Average Engagement Rate - Facebook Average Engagement Rate - Instagram Top Social Content TOTAL Potential Max Score 5 5 5 5 5 5 5 5 40 Barneys 5 4 4 4 1 1 2 1 22 Average Social IQ Bergdorf Goodman 5 4 4 2 1 2 3 2 23 Average Social IQ Bloomingdale's 5 5 2 4 1 2 3 1 23 Average Social IQ Dillard's 5 1 1 1 1 1 3 3 16 Below Average Social IQ Harrods 5 2 2 3 2 5 5 5 29 High Average Social IQ Henri Bendel 5 1 1 1 2 2 4 5 21 Average Social IQ Lord & Taylor 5 1 1 2 3 2 3 5 22 Average Social IQ LUISAVIAROMA 5 3 2 2 1 3 2 1 19 Average Social IQ Macy's 5 5 5 5 1 3 3 3 30 High Average Social IQ Neiman Marcus 5 4 4 4 1 2 2 3 25 Average Social IQ Nordstrom 5 5 5 5 1 5 4 5 35 Superior Social IQ Saks Fifth Avenue 5 4 3 5 1 1 2 3 24 High Average Social IQ
  13. 13. Detailed Analysis
  14. 14. Social Presence
  15. 15. Social Presence: RRI Department Stores At first glance, it appears these companies are all “everywhere” with every store having branded profiles on all six tracked social networks.
  16. 16. Social Presence Scores Social Presence Twitter Facebook Instagram Google+ LinkedIn or YouTube Potential Score 1 1 1 1 1 Barneys 1 1 1 1 1 Bergdorf Goodman 1 1 1 1 1 Bloomingdale's 1 1 1 1 1 Dillard's 1 1 1 1 1 Harrods 1 1 1 1 1 Henri Bendel 1 1 1 1 1 Lord & Taylor 1 1 1 1 1 LUISAVIAROMA 1 1 1 1 1 Macy's 1 1 1 1 1 Neiman Marcus 1 1 1 1 1 Nordstrom 1 1 1 1 1 Saks Fifth Avenue 1 1 1 1 1 On which social networks is the company present with a valid handle and profile. Company has created correct handles, such as a Company Page versus Personal Profile. Scoring evaluates top 4 channels: Twitter, Facebook, Instagram and Google+, plus gives an extra point for YouTube or LinkedIn presence.
  17. 17. Social Activity While we did not give a score for social activity, it is interesting to note that the leader, Nordstrom, is also the most active (by a lot) across multiple social networks on activity, especially Twitter.
  18. 18. Social Audience
  19. 19. Social Audience: RRI Department Stores Macy’s has the largest aggregate social audience by several million fans, especially on Facebook, illustrating how many of these stores are putting heavy focus on one channel.
  20. 20. Social Audience Scores Aggregate number of "followers" or "fans" across the top 6 social networks. Social Audience Detail < 1 Million 1M - 2M 2.01M - 3M 3.01M - 4M > 4 Million Potential Score 1 2 3 4 5 Barneys 4 Bergdorf Goodman 4 Bloomingdale's 5 Dillard's 1 Harrods 2 Henri Bendel 1 Lord & Taylor 1 LUISAVIAROMA 3 Macy's 5 Neiman Marcus 4 Nordstrom 5 Saks Fifth Avenue 4
  21. 21. Social Engagement Total
  22. 22. Social Engagement: RRI Department Stores Nordstrom is obtaining by far the greatest engagement, especially on Instagram and Facebook. Instagram is clearly an engagement focus for most of these department stores.
  23. 23. Social Engagement Scores The total number of engagement actions across the top 6 tracked social channels for the Q1 period (January 1 – March 31, 2015). Social Total Engagement < 400k 401k to 800k 801k to 1.2M 1.21M to 1.6M > 1.61M Potential Score 1 2 3 4 5 Barneys 4 Bergdorf Goodman 4 Bloomingdale's 2 Dillard's 1 Harrods 2 Henri Bendel 1 Lord & Taylor 1 LUISAVIAROMA 2 Macy's 5 Neiman Marcus 4 Nordstrom 5 Saks Fifth Avenue 3
  24. 24. Social Engagement Rate By Social Media Channel
  25. 25. Social Engagement Rate: Twitter Many of these stores are heavy tweeters each day, but many of those tweets are not getting much engagement. Activity without engagement is wasted social effort.
  26. 26. Twitter Engagement Rate Scores The average number of interactions (retweets and favorites), per thousand followers, of this company's tweets during Q1 2015. Note that best practices for Engagement Rate on Twitter is at least .50. Leading Twitter social companies score 1.0 or more on Twitter Engagement Rate. Average Engagement Rate - Twitter Detail < .10 .10 to .25 .26 to .35 .36 to .50 > .50 Potential Score 1 2 3 4 5 Barneys 1 Bergdorf Goodman 1 Bloomingdale's 1 Dillard's 1 Harrods 2 Henri Bendel 2 Lord & Taylor 3 LUISAVIAROMA 1 Macy's 1 Neiman Marcus 1 Nordstrom 1 Saks Fifth Avenue 1
  27. 27. Social Engagement Rate: Facebook Harrods and Nordstrom are posting to Facebook around once per day, which is standard practice, and they are clearly posting content that draws strong engagement from their “Like” base.
  28. 28. Facebook Engagement Rate Scores The average number of interactions (likes, comments, and shares), per thousand page Likes, of posts on this company's Facebook page during Q1 2015. Average Engagement Rate - Facebook Detail < .50 .50 - 1.0 1.1 - 2.0 2.1 - 3.0 > 3.0 Potential Score 1 2 3 4 5 Barneys 1 Bergdorf Goodman 2 Bloomingdale's 2 Dillard's 1 Harrods 5 Henri Bendel 2 Lord & Taylor 2 LUISAVIAROMA 3 Macy's 3 Neiman Marcus 2 Nordstrom 5 Saks Fifth Avenue 1
  29. 29. Social Engagement Rate: Instagram Barneys may post the most to Instagram, but Harrods is ROCKING engagement with its fan base.
  30. 30. Instagram Engagement Rate Scores The average number of interactions (likes and comments), per thousand followers, of posts on this company's Instagram during Q1 2015. Average Engagement Rate - Instagram < 5 5 to 10 10.1 to 15 15.1 to 20 > 20 Potential Score 1 2 3 4 5 Barneys 2 Bergdorf Goodman 3 Bloomingdale's 3 Dillard's 3 Harrods 5 Henri Bendel 4 Lord & Taylor 3 LUISAVIAROMA 2 Macy's 3 Neiman Marcus 2 Nordstrom 4 Saks Fifth Avenue 2
  31. 31. Twitter Mentions Potential Reach
  32. 32. Twitter Mentioners & Influencer Reach Macy’s brought in the most Mentioners and the greatest Potential Reach of over 150 million Twitter followers. Nordstrom was a close second.
  33. 33. Twitter Mentioners & Influencer Reach Scores How well are these companies doing influencer marketing on social media and how do those influencers on Twitter extend their potential reach? Rival IQ pulls the top 50 mentions per day per company based on mentioner follower count. Twitter Mentions Potential Reach < 10M 10M to 35M 36M to 60M 61M to 85M > 85M Potential Score 1 2 3 4 5 Barneys 4 Bergdorf Goodman 2 Bloomingdale's 4 Dillard's 1 Harrods 3 Henri Bendel 1 Lord & Taylor 2 LUISAVIAROMA 2 Macy's 5 Neiman Marcus 4 Nordstrom 5 Saks Fifth Avenue 5
  34. 34. Top Social Content
  35. 35. Top Cross-Channel Social Content Scores Number of top 50 posts over Q1 2015 ranked by Engagement Rate across Twitter, Facebook, Instagram and Google+ (maximum of 200 total posts) Top Social Content < 3 3 to 5 6 to 9 10 to 14 15+ Potential Score 1 2 3 4 5 Barneys 1 Bergdorf Goodman 2 Bloomingdale's 1 Dillard's 3 Harrods 5 Henri Bendel 5 Lord & Taylor 5 LUISAVIAROMA 1 Macy's 3 Neiman Marcus 3 Nordstrom 5 Saks Fifth Avenue 3
  36. 36. Top Social Content Detailed Scores Top Social Content Twitter Facebook Instagram Google+ Total Barneys 0 0 0 0 0 Bergdorf Goodman 1 1 1 0 3 Bloomingdale's 1 1 0 0 2 Dillard's 0 0 0 7 7 Harrods 0 12 26 1 39 Henri Bendel 5 0 3 42 50 Lord & Taylor 13 4 10 0 27 LUISAVIAROMA 0 0 0 0 0 Macy's 8 1 0 0 9 Neiman Marcus 3 6 0 0 9 Nordstrom 15 23 9 0 47 Saks Fifth Avenue 4 2 1 0 7 Top 50 Content 50 50 50 50
  37. 37. Top Social Content: Twitter Top Twitter content based on Engagement Rate - the average number of Favorites and Retweets per 1,000 followers of each company’s tweets during Q1 2015.
  38. 38. Top Social Content: Facebook Top Facebook content based on Engagement Rate - the average number of Likes, Shares and Comments per 1,000 followers of each company’s posts during Q1 2015.
  39. 39. Top Social Content: Instagram Top Instagram content based on Engagement Rate - the average number of Likes and Comments per 1,000 followers of each company’s Instagram posts during Q1 2015.
  40. 40. Top Social Content: Google+ Top Twitter content based on Engagement Rate - the average number of +1’s, Shares and Comments per 1,000 followers of each company’s Google+ posts during Q1 2015.
  41. 41. Thank You

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