10 Venture Capitalists Lured By Facebook “Social Commerce”WrappOpenSkyFab.comMintedOodleBuddy MediaLockerzYardsellrPayvmentBeachMint
FACEBOOK IS ABOUT DISCOVERY:In an hour-long interview conducted with Christian Taylor, founder and CEO of Facebook shopping cart provider Payvment, he stated matter-of-factly that f-commerce is about one thing: discovery. In his view, it’s a way for brands to connect with consumers where they hang out. Getting prospective customers to make a first purchase from a brand is his company’s goal.The key to f-commerce is what he refers to as the “taste graph.” In other words, people who have a certain interest will influence the purchase decisions of others who share that interest. Payvment’s business model reflects that paradigm.FACEBOOK IS ABOUT FANS: A customer loyalty perspective - the business case for f-commerce really only makes sense when you think of it as fan-commerce and use Facebook as a fan-loyalty platform to drive customer retention (via fan loyalty) and customer acquisition (via fan advocacy).So in this view, f-commerce is is all about rewarding fans with exclusive fan-firsts or fan-only offers to build loyalty and activate advocacy; that advocacy acts a a ‘zero moment of truth’ (zmot) for new customers, helping them discover and decide what to buy.MAKE CONSUMERS SMILE:“Ultimately, f-commerce for consumer brands will not succeed or fail based on processes, but on the ability to act on the insight that making your fans smile is smart for business,” Dr. Marsden said. “So the best advice for embarking on an f-commerce journey is to ask yourself how you can make your customers smile with a privileged and personal point of purchase on Facebook, and work back from there.”Sources:http://socialcommercetoday.com/f-commerce-future-bulls-bears-or-five-blind-men-and-an-elephant/F Commerce Statistics: http://socialcommercetoday.com/f-commerce-statistics-roundup-facebook-commerce-by-the-numbers/
