L2 released today the Intelligence Report: Social Platforms, which assesses the digital performance of 382 brands across eight verticals and 17 platforms. Until now, digitally savvy brands were present on as many platforms as possible. Adidas is present on 13, and Gap, Uniqlo, Honda, Asos and Toyota are present on 12. This approach has not necessarily paid off. Chanel, Burberry, and Dior are the only brands that have managed to be in the top 20% in engagement and fan base on all Western social platforms they participate in. Brands will soon be forced to pick quality over quantity, and choose their partners wisely.
So what platforms should brands partner with? Our report compiles a list of winners and losers.
Facebook: This social media platform’s reach is compelling, and its access to consumer data beats Google’s. And who could forget the best acquisition of 2014; Instagram now has a 90% brand participation rate.
WeChat: In addition to being the gateway to the world’s largest consumer market, WeChat is the first platform to deliver direct sales.
Snapchat: Even though few brands participate in this platform, the demographics are attractive.
Vine: 55% of Vine accounts have not posted in the past year.
Tumblr: 24 brands have left Tumblr in the past year, opting to host blogs on their own sites.
Pinterest: Absolute engagement on this site has not budged in the past year.
Google+: Engagement rates on Google+ have dropped 98% year on year.