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Here’s a nice infographic from Useful Social Media that shows the Social Commerce journey from back in February 2007 when the first virtual gift was sold on Facebook. Some of the infographic highlights include: Dec 2008 – Dell claimed $1 Million revenue in sales via Twitter Jul 2009 – Facebook’s first retail transaction via 1800-Flowers Jun 2010 – Disney launches group ticketing store on Facebook Aug 2010 – Delta launches ticket purchases via Facebook Jan 2011 – Living Social sells $20 Amazon vouchers for $10, selling over 1.3 million Jul 2011 – Facebook stops Facebook Deals
Today, selling on Facebook is not new news. Now, the question is not can you sell on Facebook (yes), or even should you sell on Facebook (probably), it’s what should you sell (fan-first exclusives in our view)? But back in 2008 f-commerce was so new the term hadn’t even been coined.
As was very nicely predicted in an Social Commerce Today article from January 2010 regarding Facebook’s integrated payment system, online retailers are definitely taking notice and looking for ways to take advantage of the massive social media giant Facebook and its expanding ecommerce capabilities. Facebook now has several integrated payment partners. To name a few: - Spare Change which facilitates payments using PayPal or major credit cards.
Facebook's gravitational pull of 750 million users is enough to hold digital marketers spellbound. Once they get past the sheer size, they find that Facebook also offers unique and nuanced selling opportunities amidst difficult obstacles. First off, Facebook users have better things to be doing. The average Facebook user is connected to 130 Friends and 80 interest groups and makes his or her preferences known through rich profiles and by posting 90 pieces of content per month. Facebook users spend 700 billion minutes per month in an active, relaxed environment where word-of-mouth is built into every turn.