Nordstrom (NYSE:JWN) is ranked No. 1 in the social IQ ranking on the Rival Results Index for High-end Department Stores. The analysis was designed to give a look at key social media measurements, including presence, reach, engagement and content, for 12 top brands over the course of the first quarter.
According to the study, most of the department stores evaluated are missing the mark on best practices and the full benefit of social channels. For example, none of the stores have a social media presence connected with an e-commerce store, and activity was described as inconsistent across multiple social channels. Stores are also missing a big opportunity for cross-promotion with other brands, thereby missing the added influence and extended reach offered by such a deal.
In the rankings, Nordstrom received a score of 35 out of 40, reaching the maximum score of five out of six in eight categories and solidifying itself as the only store analyzed to receive a Superior Social IQ ranking. Macy's (NYSE:M), Harrods and Neiman Marcus (NYSE:NMG) achieved the second highest ranking of High Average Social IQ, while the vast majority of stores only achieved an Average Social IQ ranking.
"The department stores evaluated appear to be very focused on audience and activity but missing the full potential of engagement with their fans, which could be improved through better use of social media best practices and consistency," said Margaret Dawson, Rival IQ CMO. "We were surprised by some of the basics not followed by these well-renowned brands who spend millions of dollars on marketing overall."
All of the stores analyzed in the study were found to have a low level of engagement on Twitter and Facebook. Although most stores are actively tweeting daily and have millions of followers, the highest engagement rate belongs to Lord & Taylor at 0.33. Most stores had an engagement rate of less than 0.10, meaning less than one follower out of every 10,000 was retweeting or favoriting a tweet.
Engaging on social media is becoming increasingly important for retailers who want to connect with consumers in 2015.
Engagement was high on Instagram for most department stores, with Harrods outscoring all other brands with a rate of 30, followed by Nordstrom at 17.81.
-See this Rival IQ press release
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