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Study Finds Facebook Holds Most Social Media Power Among Luxury Brands
TIME
A new report released today by New York University's Luxury Lab think tank, or L2, measures the performance of social media advertising for almost 250 prestige brands.

China’s online market is vast and growing at an insane rate – Chinese e-commerce sales are projected to triple from now to 2015 – which makes it a draw for all luxury brands. But it’s also so very different from western markets that it demands a whole new approach. That’s where the annual Digital IQ Index comes in, a detailed report by the L2 Think Tank that grades brands on their carefully crafted approach to social marketing and web presences for Chinese consumers.

Last year this Digital IQ report ranked three global companies as having “genius”-level marketing chops: Audi, Burberry, and BMW. This time around, four luxury brands get this accolade, led by cosmetics firm Estée Lauder.

Estée Lauder and Lancôme are being lauded for their digital savvy in the beauty sector as the only two brands to receive a genius ranking on the L2 Think Tank Digital IQ Index: Beauty.

Runners up include Kiehl’s and Chanel. Brands such as Dior, Yves Saint Laurent and Giorgio Armani were listed in the average category, while Dolce & Gabbana needed to improve its presence on digital, per L2 Think Tank.

“The highest-ranking brands in our Index have a digital strategy that ties to their business objectives,” said Stasha Rosen, research lead at L2 Think Tank, New York. “In addition to robust ecommerce-driven sites, Gifted brands innovate across social, mobile and email marketing.

“The two Genius brands, Estée Lauder and Lancôme, are connecting content with commerce and engaging digital influencers,” Ms. Rosen said. “Ecommerce has given prestige beauty brands the opportunity for growth outside of traditional channels.”