Will Facebook Become the Leader in Social Commerce?
Posted by Nick O'Neill on December 26th, 2007 1:40 AMTwo years ago, Steve Rubel was speculating that social commerce would be a hot topic in 2006. I don’t think he could have forseen the launch of the Facebook platform. Facebook has changed the way that we interact with each other and keep track of our ongoing relationships. Then a few days ago Facebook began looking for beta testers for their new payment system.
Next year, look for Facebook to become the dominant player in social shopping. So what is social shopping? There are many definitions but my own definition is “the integration of recommendations from trusted sources when making a purchase decision online.” While Amazon has already integrated comments on products, the largest problem is that I don’t know who made each review. As a result, those reviews are not as valuable for me.
On Facebook, we will know what types of products our friends are purchasing (via Beacon and platform applications) and will be able to use their purchases and reviews as a guide when making our own purchases. With the advent of Facebook payment system, look for advanced e-commerce applications to rise in popularity. Just as I have made many book purchase decisions via blogs, I will now make many more of those decisions based on my friends in Facebook.
While some believe that Facebook is only big in 2007, I believe that Facebook is going to further extend their dominance next year beginning with the launch of their Facebook payment system. While the paradigm shift may not be apparent overnight, by the end of next year we will have witnessed a revolution in online shopping.
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December 26th, 2007 at 12:51 pm
The question is… do we welcome this or not?
On one hand, i don’t want people knowing what I buy, and I want my privacy as protected as possible.
On the other hand, if I’m going to be forced to watch ads, they may as well be about something I’m interested in. Maybe I’d stop seeing those MSN emoticon shouting popups as much!
December 26th, 2007 at 1:51 pm
The question is… do we welcome this or not?
On one hand, i don’t want people knowing what I buy, and I want my privacy as protected as possible.
On the other hand, if I’m going to be forced to watch ads, they may as well be about something I’m interested in. Maybe I’d stop seeing those MSN emoticon shouting popups as much!
December 27th, 2007 at 1:27 am
I agree w/the online shopping revolution.
In addition, a revolution in marketing: targeted marketing, relationship marketing, attention marketing.
I think, now more than ever, the small biz owner has access to the same opportunities as bigger companies. Facebook will transform how we do business in ‘08 and beyond. It already has for me.
December 27th, 2007 at 2:27 am
I agree w/the online shopping revolution.
In addition, a revolution in marketing: targeted marketing, relationship marketing, attention marketing.
I think, now more than ever, the small biz owner has access to the same opportunities as bigger companies. Facebook will transform how we do business in ‘08 and beyond. It already has for me.
December 27th, 2007 at 5:26 pm
could it be, nick was right, for once (about FB shaping online shopping)?
Even the blind squirrel, from time to time, does find the acorn!
December 27th, 2007 at 6:26 pm
could it be, nick was right, for once (about FB shaping online shopping)?
Even the blind squirrel, from time to time, does find the acorn!
December 27th, 2007 at 9:49 pm
I know this isn’t what they’re looking at right now, but you can see the potential (especially for girls):
A girl is in a clothing store looking at dresses. She snaps a photo of herself with her cellphone and uploads it through Facebook mobile, poking any friends online on Facebook at that moment - they can choose to view the photos or ignore. If they view, they can text back their opinions on which dress she should buy. It’s like shopping together without shopping together.
I personally wouldn’t do this but think of how many would.
December 27th, 2007 at 10:49 pm
I know this isn’t what they’re looking at right now, but you can see the potential (especially for girls):
A girl is in a clothing store looking at dresses. She snaps a photo of herself with her cellphone and uploads it through Facebook mobile, poking any friends online on Facebook at that moment - they can choose to view the photos or ignore. If they view, they can text back their opinions on which dress she should buy. It’s like shopping together without shopping together.
I personally wouldn’t do this but think of how many would.