A new report from The Online Circle shows Australian businesses are struggling to cash in on their popularity on Facebook, with many failing to effectively engage their fanbase.

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The Australian Facebook Performance Report, which surveyed 241 businesses, revealed that banks and financial organisations, accommodation services and grocery companies were the most successful in appealing to their user base with engagement rates of averaging 8 per cent.

On the other end of the scale, the consumer beverages industry, with companies such as Coca-Cola Australia and V Energy Australia, was the worst culprit, engaging just 0.9 per cent of its 2.5 million Facebook fans in July.

Of the Facebook pages surveyed from organisations across 12 major industries, the retail fashion sector engaged just 3.4 per cent of its nation-leading 3.2million fans.

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Fashion sportswear chain Lorna Jane rose above its competitors, adding over 25,000 new fans and engaging over 30,000 of its fans, a 29.1 per cent share of all interactions in the fashion industry.

Across the automotive sector four companies stood out – Hyundai and Suzuki soared on the back of television advertising and Facebook competitions, while new car launches drove interactions for BMW and Lexus.

The department store sector saw its interaction rate decline almost five per cent from May to July, despite 12 of the 20 most ‘liked’ companies being discount or sale specialists.

Sales aren’t everything

Pringles Australia boasts a massive fan base of over 1million Facebook users, yet the company saw an engagement rate of just 1.4 per cent.

Despite being an institution wholly owned by its customers and possessing over 80,000 Facebook fans, Credit Union Australia’s Facebook page had less than 50 interactions for July.

What do the figures mean for brands?

These figures show that having a large number of Facebook fans is not enough.

Brands must engage their audiences with compelling, shareable content or miss a potential of connecting with the growing online marketplace.

To read the full Australian Facebook Performance Report, visit the The Online Circle.