• by Joe Mandese  @mp_joemandese, February 7, 2011

Despite the concerns surrounding user privacy, Facebook has the most loyal and engaged consumers of any major online social media platform, according results of some highly regarded brand research being released today. The research, the 15th edition of consultant Brand Keys' annual Customer Loyalty Index, shows that on the basis of all consumer brand attributes, including "privacy and security," Facebook ranks a dominant No. 1, followed by MySpace, LinkedIn, and Flickr with micro blogging network Twitter a distant fifth.

"When you look at the diagnostics, Facebook does rank very low in terms of security and control," but when you put all the drivers together they have a very loyal base," says Robert Passikoff, founder and president of Brand Keys, which is releasing its 2011 findings exclusively through MediaPost publications this week.

Because the research, including the "drivers" Brand Keys uses to rank brands, are induced directly from the consumers of brands, Passikoff says the data represents exactly how consumers feel about those brands relative to other brands in their categories. Among social networks, Passikoff says Facebook is a dominant No 1, because it fulfills its users expectations about their own "self-image," which is the No. 1 brand driver among online social networks, followed by "ease of connection," "security and control" and overall "brand value."

With the exception of LinkedIn, Passikoff says all of the major social networks rank relatively low on security and control, but he notes that user concerns over privacy are not enough to offset the strong loyalty and engagement consumer derive from other aspects of social network brands.

Interestingly, the Brand Keys data indicates that while security and control are important issues among social media users, they contribute less than 20% of consumers' overall perceptions about social network brands in the index, and are far outweighed by a network's ability to reinforce a user's own self-image, and to give them easy connections, two things Facebook excels at.

Interestingly, Twitter, which has become the rage among celebrity users and is making lots of noise on Madison Avenue, fares worst in the Brand Keys index, by a wide margin.

"It's very low on security and control and it's the lowest on brand value and content," Passikoff says of the perception consumers have about Twitter's brand.

The findings could be significant for the long-term success of social networks, because branding experts believe consumer perceptions about brands can affect long-term performance and financial realities. Wall Street analysts typically treat brand value as part of the "goodwill" assets of a company, which depending on the industry and category, can be a significant portion of a company's overall valuation.

Top Social Networking Sites Ranked By Brand Loyalty

1 Facebook
2 MySpace
3 LinkedIn
4 Flickr
5 Twitter
Source: Brand Keys Customer Loyalty Engagement Index 2011