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April 21, 2012 12:00 am GMT
Speak to people who think Facebook will be a screaming buy at its likely IPO valuation of $100b+ and they will say with confidence, "Facebook is just getting started." What they mean is that Facebook is just starting to find ways to monetize its 845 million users; the social network started with the lowest hanging fruit, which was advertising, then moved on to taking a cut of in-app virtual goods purchases, and now presumably has a long laundry list of other ways to enmesh its users and grow its top line.High on that list is a controversial proposition:commerce on Facebook, otherwise known as F-commerce. Though an initial rush of branded retailers set up storefronts on Facebook pages, several of them, including GameStop, JC Penney, Nordstrom, and The Gap, decided in February to shut them down.It turns out that simply replicating a web storefront on Facebook isn't compelling for consumers, particularly when the brand's fully-functioning and pretty convenient web site is only one click away.Moreover, brands were leery of driving commerce traffic to Facebook rather than to their own sites where they could better control the experience and manage consumers through a purchase conversion funnel.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/ATab-Q1zKBI/
Event Marketing: The Key To F-Commerce?
Speak to people who think Facebook will be a screaming buy at its likely IPO valuation of $100b+ and they will say with confidence, "Facebook is just getting started." What they mean is that Facebook is just starting to find ways to monetize its 845 million users; the social network started with the lowest hanging fruit, which was advertising, then moved on to taking a cut of in-app virtual goods purchases, and now presumably has a long laundry list of other ways to enmesh its users and grow its top line.High on that list is a controversial proposition:commerce on Facebook, otherwise known as F-commerce. Though an initial rush of branded retailers set up storefronts on Facebook pages, several of them, including GameStop, JC Penney, Nordstrom, and The Gap, decided in February to shut them down.It turns out that simply replicating a web storefront on Facebook isn't compelling for consumers, particularly when the brand's fully-functioning and pretty convenient web site is only one click away.Moreover, brands were leery of driving commerce traffic to Facebook rather than to their own sites where they could better control the experience and manage consumers through a purchase conversion funnel.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/ATab-Q1zKBI/
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