Facebook Credits were introduced in 2010 as a virtual currency used to purchase virtual goods in games and apps on Facebook. It aimed to generate additional revenue streams for Facebook and gather user data. Developers and marketers used Credits to incentivize user engagement. While Credits gained traction, challenges included Facebook's 30% fee and questions around whether Credits qualified users or were well-suited for video commerce.

1. Facebook Credits & Social Video Grant Crowell , Reel SEO Duncan Alney , Firebelly Marketing

2. What Is “Virtual Currency?”

3. Virtual currency is another way of describing “electronic money” It is used to purchase virtual goods within a variety of online communities; which include social networking websites, virtual worlds and online gaming sites

4. What Are “Virtual Goods?”

7. and in 2014, reach $14 billion according to a different analyst. $ $ $ That figure was estimated as 1.6 billion in 2010. 2013 sales will be $4 billion according to one analyst,

8. What are “Facebook Credits?”

10. Why has Facebook launched “Credits”

12. How do “Facebook Credits” work?

14. Who’s using “Facebook Credits?”

16. Social game developers can provide a reward system into their games for users who engage in a certain type and degree of activity. “ Most leading developers have already integrated Credits as the only way of paying using credit cards ” – Inside Social Games , January 11, 2011

19. Why should we care?

22. Why is Facebook paying users to watch ads? Facebook is hoping to grow the use of Facebook Credits, if only by 3 to 5 percent - Business Insider Facebook is hoping the new incentive-driven model will remedy its categorically low click-through rates on banner ads - AdWeek

23. Forecasts

25. Facebook Credits will become the mandatory payment method for third party app developers on the social network on July 1, positioning the virtual currency for explosive growth. This growth will likely be driven in great part by daily active players of social games, who now comprise well over 150 million users Source: Mediabistro.com latest Facebook research reports entitled Facebook Credits: Deployment Strategies in Facebook Games and Facebook Ad Networks: A Guide to Monetizing Facebook Games & Apps.

26. Challenges for Facebook Credits

30. Consumer Watchdog files anti-trust violation against Facebook - Consumer Watchdog, a nonprofit consumer advocacy group, has filed a complaint, with the Federal Trade Commission accusing Facebook's virtual currency system of anti-competitive behavior. - The complaint asks that the FTC issue an injunction stopping Facebook from continuing its behavior and that it investigate Facebook's relationship with social gaming giant Zynga.

31. New Marketing Uses for Facebook Credits

33. Marketing Shifts point to video

35. Why Video?

39. Facebook is the fastest-growing site for video sharing. MySpace is dying. Online retailers are bringing video to the social web through a suite of tools focused on broadening video's impact while connecting it directly to revenue.

40. Use video to build conversation & community

42. What Is Social Video?

43. Social video gains focused attention , which gradually increases over time. They’re dependent around the value of the human-based conversation that develops around them Social video is based on trusting the source and the message, must be transparent and authentic . It shares not just content, but communication .

46. Retail / Ecommerce Examples

52. Music Industry Examples

55. Widespread Panic live on Facebook - 2 day concert in Mid-June utilized Milyoni live event plaftorm- - All purchased tickets to attend the first Social Theater concert on the Facebook platform - 2,300 tuned in across 19 countries and all used Facebook Credits - The average concert attendee was 33, with 75% male and the remainder female - More than 19 countries, including the United Kingdom, South Korea, Australia, Germany, Brazil, and South Africa - The music group increased Fan followers by 20,000. Austin City Limits' Facebook Fan base grew by 40%. Source: MediaPost

56. Brand Marketing Examples

59. Movie Examples

64. Grant Crowell Grant Crowell is the senior media analyst, podcast show host, video interviewer vlogger for ReelSEO.com – the #1 online magazine dedicated to the business, culture, and technology of online video. [email_address] Duncan Alney Duncan Alney is the vision behind Firebelly Marketing and a nationally recognized social media provocateur who speaks across the country. [email_address] Follow on twitter: @firebelly