New global solution measures branding effectiveness of social media fan pages.
Global market research agency Millward Brown launches FanIndex, a solution for measuring the impact of brand pages on social platforms. FanIndex provides quantitative measurement of Facebook fan page performance along with rich diagnostics to help marketers optimize page content.
"Marketers are looking for standardization in metrics across platforms. With FanIndex, our analytic construct uses traditional attitudinal metrics at the same time adjusting them for Facebook," says Ali Rana, senior vice president and head of Millward Brown's Emerging Media Lab. "Marketers can now get deep diagnostic insights into fan motivations, their expectations and their resultant change in perceptions."
FanIndex benefits include:
Understand how fans compare to the target audience, why they became a fan, and their expectations as a fan
Explore the impact of fan page content on overall impressions of a brand
Quantify a FanIndex rating - a composite score of fans' overall opinion of the page, attention to brand posts, and likelihood to recommend and revisit
Learn how to optimize the fan page to enhance the fan experience and deepen relationships with existing brand enthusiasts
"The new FanIndex research solution provides us with a really valuable source to understand our brand fans," says Christene McCauley, Global Consumer Planning Director at Diageo. "We now have a much clearer view of what our fans are looking for, and what the implications are for us to drive engagement, equity and to further develop the relationship we have with our fans."
FanIndex is backed by recently-released findings from a ground-breaking research study called "Value of a Fan" where Millward Brown identified best practices for increasing brand equity within fans. The findings suggest that the size of the fan base isn't the main driver of higher FanIndex ratings. Rather pages need to deliver on common fan expectations (i.e. regular posts, authentic dialog, transparency and latest brand news) and then as many competitive differentiators as possible (i.e. community interaction that is fun, innovative and has variety). Findings also show that there is a fair amount of difference in performance between fan pages and the key is to find a style, voice and elements that are able to build upon the existing brand equity among fans.
By conducting FanIndex studies, companies will gain a clear understanding of how and why their fan pages are building brand relationships with core measures benchmarked against norms, to help fan pages work harder. FanIndex complements and can be easily integrated alongside other behavioural fan page measures such as numbers of likes and comments.
To learn more about how you can leverage FanIndex, contact:
About Millward Brown Millward Brown is one of the world's leading research agencies and is expert in effective advertising, marketing communications, media and brand equity research. Through the use of an integrated suite of validated research solutions - both qualitative and quantitative - Millward Brown helps clients build strong brands and services. Millward Brown has more than 78 offices in 54 countries. Additional practices include Millward Brown's Global Media Practice (media effectiveness unit), The Neuroscience Practice (using neuroscience to enhance traditional research techniques), Millward Brown Optimor (focused on helping clients maximize the returns on their brand and marketing investments), Dynamic Logic (the world leader in digital marketing effectiveness) and Firefly Millward Brown (a global qualitative research business). Millward Brown is part of Kantar, WPP's insight, information and consultancy group.
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