F-commerce: Bringing Sales to the Social Media World
If Facebook was a country, it would be the 3rd largest in the world with close to 600 million members. Successfully capturing 57% of all Internet users and 9/10 of social network users, Facebook has earned the status as the world’s largest social media outlet. Companies are quickly realizing that in addition to revolutionizing social media, Facebook can act as a significant sales tool. F-commerce, or Facebook commerce, is in its early stages of development. F-commerce drives e-commerce sales through the Facebook social media outlet.
The Early Stages
After Facebook launched virtual games like Farmville, you could walk into a store and find Facebook Credits gift cards available for purchasing virtual goods. Though unrecognized at the time, this was the initial stage of F-commerce. The success from the early stages of F-commerce prompted Facebook to launch “Real Gifts,” and open up store for physical goods as well as virtual. Real Gifts is an additional source of revenue for Facebook, as it buys products at wholesale price and sells them at retail. Starting off small and introducing consumers to the idea of F-commerce, Real Gifts supply generic gifts such as Fandango movie tickets.
The Ah-Hah Moment!
With Internet e-commerce rapidly advancing, companies are recognizing F-commerce as an invaluable sale and marketing tool. While continuing to develop Real Gifts, Facebook is giving marketers the freedom to test e-commerce apps under the condition that Facebook will receive 30% on purchases of virtual goods made with Facebook credits. Facebook is slowly becoming its own global, virtual shopping mall. F-commerce is a breakthrough that establishes the close connection between social media and sales, while strengthening Facebook revenue by allowing advertisers to monetize campaigns with online sales.
The F-Commerce Movement
Over 75% of Facebook users have “liked” a brand. When these branded products become available for purchase through F-commerce, there is no doubt of the results that will follow. Through F-commerce, P&G sold 1000 diapers in less than one hour. Rachel Roy had her third highest daily sale the day she opened up her f-store; it took less than 6 hours for the entire store to be bought out. These results motivated the top 3 brands determined by Facebook fans- Coca-Cola, Starbucks, and Disney- to join the F-commerce movement and sell their products directly through Facebook. It also inspired 1-800 Flowers to create and develop a brand new e-commerce platform. Want your company to reap the marketing and sales benefits Facebook has to offer? Join the F-commerce movement today!
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