February 2011 ChannelAdvisor Facebook Commerce Index

March 3, 2011

Note: The ChannelAdvisor Facebook Commerce Index is a new way of tracking Facebook Commerce introduced by ChannelAdvisor in March of 2011.  You can read the background information, schedule, etc. in this introductory post.

February 2011 ChannelAdvisor Facebook Commerce Index

February was an interesting month for fan growth.  We’ll begin tracking some more macro-trends over time once we have a solid year’s worth of data, but for February what we saw was:

  • Growth – The total number of online retailer fans increased 5.1% since February – That’s a 60% annualized growth rate without compounding, so clearly Facebook users continue to ‘Fan/Like’ pages for online retailers at a strong pace.
  • Audience – The total fan count grew from 147.7m to 155.3m From Jan to February.  This is the aggregate fan count across > 500 pages without de-duplication, but indicative of the scale of the Facebook Commerce trends we have all heard anecdotally and now we are able to track quantitatively.  Even if half of these are duplicates, that’s 50m fans out there ready for engagement.

Now let’s look at the three different views of the data: Top 25, Top 25 Growers and Top 25 Percentage Growers.

ChannelAdvisor Facebook Commerce Top 25

CA_FBC_Index_Feb11_top25

Since we started the CAFBCI, we’ve been impressed with Victoria Secret’s dominance.  That was before we even realised that they had two pages – the main page and their Pink sub-brand.  Together they have > 19m fans, which is > 3X Adidas who is next.  Department-store wise, Target leads Walmart at 3.9m vs. 3.6m, but as you’ll see, Walmart is growing pretty rapidly and is set to close that gap soon (showing 22% growth vs. Target’s 2%).

Levi’s launched a really cool Friend Store that we’ll go into details on at a later date.

Now for the top growers in February from an absolute ‘new fan’ adds perspective.

Top Growers

CA_FBC_Index_Feb11_topGrowers

As mentioned in the top 25, Walmart grew their fan base > 600k in Feb, almost 2X of the next top grower.   Walmart has a couple of interesting things going on that are driving the growth:

  • A new ‘connect and save’ social media hub – The Connect & Save pages gives consumers a nice hub for Walmart’s five twitter accounts, two facebook pages, five blogs and mobile apps.
  • Circulars – Both the print and on-line Walmart circulars (I guess people still read newspapers?!) now point people to both the social hub and directly to the facebook+twitter pages
  • Cause -Walmart is winding down an ‘end hunger’ cause where they donated $1.5m to fight hunger.  They leveraged Facebook as a way for customers to decide which communities received the donations.  They say this generated 10m Facebook likes, and it looks like a chunk of that translated over to fans.

That’s the online retailers that have added the largest numbers of fans in Feb, but which retailers are growing the fastest on a percentage basis?

Top Percentage Growers

CA_FBC_Index_Feb11_top_percent_gainers

Dockers is the leader in February with a > 200% increase from Jan to Feb.  One of the top ways to drive large fan increases is a promotion and Dockers is running a “Wear the Pants” $100k promotion that is clearly resonating with consumers and causing their fan base to surge. You can see it in action at http://www.facebook.com/Dockers, and here’s what the promo looks like:

Dockers_fb
The promo is running simultaneously on Twitter and has some good content that is running in parallel. If you read the three steps, this promotion is cleverly viral because in addition to writing your plan, you need to get all of your friends to vote – the top five vote-receivers will be drawn from to win.  This drives fans in two ways:

  • Entrants have to Fan the Dockers page to enter
  • Voters have to fan the dockers page to vote

The result?  200% growth in fans for $100k or 70k fans (so far) – note this doesn’t count the twitter follower increases, etc.

Shoplet has grown nicely (180%!) by making sure their Facebook page is prevalent on their site, blog and emails.

Until next month….

Those are February’s highlights.   Each one of these top retailers has an interesting story and potential ‘best practice’ and each month we’ll be sure to highlight some, but we also want to hear from you on what you think is working and what isn’t in the world of Facebook Commerce.  So let us know your thoughts in comments.

 

Disclaimers: I am long Google and Amazon.  eBay is an investor in ChannelAdvisor where I am CEO.  ChannelAdvisor has over 3000 retailer customers many of whom are included in the ChannnelAdvisor Facebook Commerce Index and maybe discussed in the context of Facebook commerce best practices.