Monthly Archives: February 2012

A Shift Left for Facebook Commerce

Posted by on February 22, 2012 No comments

Humans, by nature, are social creatures. We thrive on personal connections and small-talk. We enjoy the company of others. So, what lessons from human nature can we apply to the emerging Facebook Commerce “F-Commerce” market? To me, they’re clear. But, I’ll let you decide for yourself.

Girlfriends Shopping

Before I get into it, though, I want to thank Marsha Collier for pointing out a blog post by Hugh Briss, which explains the recent (andsubtle) changes to the standard Facebook page layout. The post jump-started my thinking about the inherent “social” nature of Facebook and, in turn, what users (or potential users) of Fanpage Toolkit can learn from these changes.

@MashaCollier on Twitter

 

 

 

What value does Fanpage Toolkit’s service provide by brining traditional e-commerce store fronts into the Facebook ecosystem? Though the change that Hugh pointed out is a very subtle shift, its implications for F-commerce and Social Commerce are huge, impacting a core component of the technology: the “social” component.

So what is this subtle change that I believe speaks volumes about the value of bringing commerce to Facebook pages? A slight shift left in alignment of Facebook pages.

With this small shift in page alignment, Facebook has made room for the “news ticker” and full friends chat list, both of which are extremely dynamic and social elements of Facebook’s environment. It is this shift that really has me excited for the potential of F-commerce and for what Fanpage Toolkit offers its users.

Facebook Like Button SampleThink about traditional online shopping (e-commerce) on retail sites like Gap or Piperlime. While these sites may offer a “social” experience by offering Facebook “Like” buttons or Twitter sharing, are your closest friends available on these sites, ready to chat or comment with the click of a button?

No. On Facebook, they are more than ready and willing to chat, “sitting” right next to you in the chat interface.

In fact, in 2009, over 1 billion chat messages were sent per day on Facebook’s proprietary messaging system. That’s a lot of socializing. As a natural extension of our social circles, Facebook’s power lies in its ability to provide a sense of “connection” by facilitating conversation between friends and family. So, we should ask ourselves why the typical teenage group hangout is usually a local shopping mall or popular store. Why do people enjoy shopping together? It is clear that the social nature and connections formed by gossiping, shopping, and experiencing products together make the activity better for everyone involved.

Now, of course, Facebook cannot completely recreate the personal, human interactions that a group trip to the mall can. But chat, video calling, and other sharing options come close to making interactions on Facebook as human as possible. So with this in mind, why would any internet retailer opt to limit their customers’ “social experience?” With F-commerce, and Fanpage Toolkit’s integrated store fronts, we become one step closer to simulating the commercial experience so many people value in real life.

Fanpage Toolkit F-Commerce

Imagine the social shopping experience an F-Commerce solution like Fanpage Toolkit can provide, combined with Facebook’s subtle shift in layout. While browsing products on a brand’s Facebook store, users are able to see real-time updates and “likes” from their friends on the opposite side of the page. And more importantly, they are able to chat. Removing any feeling of isolation, and providing a sense of community, Facebook’s chat function, combined with in-Facebook store transactions powered by Fanpage Toolkit, provides a unique social commerce experience.

As more users begin to experience a truly social commerce experience, F-Commerce will gain undeniable traction. Every traditional E-commerce website will soon have an F-commerce counterpart, and will be driving social connections in ways traditional websites could only dream of.

So, the last question is, are you going to “get social” with your commerce solution? Or are you going to keep your customers in isolation, with just their cart and a handful of items? We hope you get more social with F-Commerce!

Original post by: Fanpage Toolkit

Wine? Flowers? Diapers? How are you going to get a cut of the Social Commerce market?

Posted by on February 22, 2012 No comments

“The market for social commerce has been embryonic to date, but that will change over the next five years as companies race to establish stores, pushing up social commerce revenues sixfold, to US$30 billion globally.”

Opening heading via -Booz&co [Turning “Like” to “Buy" Social Media Emerges as a Commerce Channel]

 

So, as you just heard… social commerce is predicted to reach an astounding $30 billion in global sales of physical goods in the next five years. That’s a lot. And while social commerce currently sits at about $5 billion in sales of physical goods, according to Booz and Company, the industry is poised for considerable growth. So, who is going to step up to the plate and start selling?

Wine Market Australia - Social Commerce Facebook Store

 

When will we see a brand truly own the social commerce space? So far, three companies come to mind as being recognized for their social commerce efforts on Facebook: 1-800 Flowers, Pampers, and Wine Market Australia. The last was recently recognized for achieving over $30,000 in sales directly within Facebook. Using new social commerce solutions, such as Fanpage Toolkit, companies have begun to engage their customers in new ways, but few have truly taken the step to own the social commerce arena. Or, am I missing something? Do you know of any brands actually owning the space and innovating?

1-800-Flowers.com Social Commerce Facebook Store

 

 

 

 

 

 

 

So, let’s get back to that 30 billion number. Where is your cut of that forecasted social commerce market share? What are you doing to contribute to the enormous growth predicted by researchers? Social commerce doesn’t have to be hard, and truthfully I believe that it will come as a natural extension of Facebook and other social networks as soon as one or two big-name brands start using the tools at their disposal. Booz and Company seems to agree with my sentiment, in the report mentioned earlier.  Listed below are what the analysts of the report consider to be the four imperatives for getting started with social commerce, with my commentary added.

 

Imperative 1: Jump in soon and learn by doing.

“It is usually a good idea to study a new opportunity loosely, but given the fast pace at which social commerce is evolving, companies must be willing to learn while doing.” As I said, we’ve yet to see a company truly jump head-first into the social commerce arena, let alone the Facebook commerce portion of it (otherwise known as F-Commerce). When the barrier to entry is simple, and access to powerful F-Commerce tools is FREE, there is no reason more people shouldn’t be jumping into the mix and experimenting.

 

Imperative 2: Develop a strategy for getting the data you need.

“What would a company most like to know about social media?” When approaching social commerce, realize that there is more data floating around social networks then you can wrap your head around. By completing transactions within a social commerce system, users are sharing personal information, demographics, and other data that is essentially “gold” to any commercial endeavor. Does your social commerce platform offer an analytics tool to capture that value? Geo-location, engagement, and key words are examples of important data points that are able to be captured from F-Commerce. When entering the social commerce arena, make sure you’re armed with the tools to get the data you need to achieve commercial success.

 

Imperative 3: Define what the customer experience should be.

“Companies should use tests, pilot projects, and sociographic data to map out different social commerce strategies to get a sense of what their customers will see, how they will respond, and what they like best.” This is an important factor in the successful adoption of social commerce, and more specifically, F-Commerce. Users have come to expect a certain secure, simple experience when buying online. Buying within Facebook should be no different.

 

Imperative 4: Integrate social commerce into an overall multichannel strategy.

“As social commerce becomes a bigger part of the overall sales mix, it is important to understand its position in the company’s broader multi-channel strategy, and in particular to determine the impact social commerce will have on other channels.” Simply said, a F-Commerce storefront cannot stand on its own. As with any other commercial effort, a solid, well-rounded marketing strategy is necessary to truly gain traction among customers and potential users. To round-out the marketing mix, budding social commerce mavericks and newbies alike should look for a full suite of promotional apps, sweepstakes tools, and robust support for their Facebook brand pages.

 

When everyday users take note of the above imperatives, and especially when large brands take note of these important suggestions, the social media community will begin to see a meaningful leap ahead in social commerce activity.

Original post by: Fanpage Toolkit