Do I need to be on Facebook?
The threat of Facebook becoming a part of people’s every day lives is growing. Consuming more of users’ online time, and that doesn’t appear to be abaiting. Facebook has a great deal of control over users privacy, therefore is a powerful marketing tool for content and online retail. Facebook offers users a many reasons to use it, and in some cases it’s not really even a conscious decision. A recent South Park episode illustrates how Facebook is sucking more people in. Facebook is the latest fad, therefore millions of people are using it.
How important is Facebook to your online business?
Facebook is already taking up a position in e-commerce with a service called Payvment, which is offers a Facebook storefront application to retailers. The concept is simple – a Facebook user gets a discount on merchandise by becoming a fan of the retailer who using Payvment. This will drive some interest in Facebook e-commerce and user engagement with retail brands.
Businesses are getting used to the idea of social media but now want to know about Return on Investment.
How Payvment’s Facebook storefront app works.
B. Acts as a network of retailers from which customers can make multiple purchases across, all in one checkout process (money is then divided up among the retailers on the back-end)
C. Each retailer provides a gateway to other shopping brands.
D. Retailers set any percentage they wish to offer in exchange for becoming a fan.
Here’s what a page might look like to a fan or non-fan:
This may be perceived as a form of endorsement but it may be reasoned the same principles apply when becoming a member of a club or joining a mailing list. Not all friends are alerted when the user becomes a fan.
Payvment’s also lets users add comments and reviews to storefronts. Built-in spam protection allows retailer to control inappropriate content in the comment and review section of their storefront.
Facebook’s terms of use restruct Payvment sellers from selling inappropriate content such as alcohol, tobacco, munitions and items that promote hate, criminal/terrorist activities, or items that infringe upon the rights of a third party.
Whether you are going to use an app like Payvment or not, it is possibe to start monetizing Facebook fans and achieving ROI on social media. We expect this type of service will become more popular within the Facebook system.
