Social Ecommerce | Internet Summit 2010

by Morgan Siem on November 18, 2010

in Social Media

1st up: Christian Taylor, CEO of Payvment, the leading shopping platform on Facebook.

To kick off his presentation, Christian gives a few reasons why companies should care about Facebook. Well, of all the reasons he gave, the most compelling was that Fans spend more. This is true. I’ll back him up.

“Facebook fans spend additional $71.84 than non-fans.”

Some powerful tips to incentivize via your Facebook store:

  • offer exclusive merchandise
  • offer instant discounts to those who “like”

Facebook also gives the added benefit of sharing. So, there’s a viral effect when a person likes or purchases, because then that buyer’s Facebook friends see a message that says, “Morgan Siem ‘likes’ your super-duper awesome product.”

Facebook has said that they expect to make more $$ from Facebook credits in the future than from Facebook Ads. Crazy!

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