On hand at OMMA Social to talk about their
recent study on luxury brands is Scott Galloway digital
think tank L2 and Mike Lazerow, CEO of Facebook marketing firm Buddy Media. Mike points out that as attention has shifted from traditional lean-back mediums to Facebook, the audience for brands on the
social network is larger than the combined circulations of major magazines. Burberry's Facebook page, for instance, has nearly 7 million fans. Galloway noted however that fan base size isn't
everything on Facebook. Burberry was only rated average in the study which analyzed 100 luxury brands on Facebook because it wasn't as active as other brands at trying to engage consumers. Engaging
fans and integrating its Facebook presence with its online catalog helped land women's fashion brand Tory Burch in the top 10 even though it has far fewer fans. The study assigned brands "IQ scores"
based on four criteria: size and growth of Facebook community, engagement, content, and integration across other online platforms. BMW came out on top, based on having the second highest engagement
level and a 5 million strong fan base.