One of the first tasks that brands face in managing their social media properties is to fully understand the platform itself. With the rapid acquisition and fan growth experienced in 2010, a number of brands are now sitting on Facebook audiences of 5-10 million plus. That is one hell of a significant audience. If for a moment, we pretend that those 10 million eyeballs are not just social media eyeballs, but traditional media eyeballs -- such as a television viewer figure or newspaper or magazine circulation -- then the value of that audience would be given much prominence. For example, in the fight to claim greater advertising revenue or offset the decline of audience share through fragmentation, traditional media owners have invested millions and untold resource in audience research, both in-house and from independent research houses. In this regard, the social media world is millennia behind. In addition to providing convincing commercial arguments, a deep understanding of the platform's audience allows brands and publishers to supply the content that the audience demands. With the fight to gain space in user news feeds being so competitive (some users might "like" up to 30 or 40 brands on Facebook -- each publishing numerous daily status updates), understanding what makes your audience tick is the first step in achieving stand-out. Get the full story at iMedia Connection