Monday, November 24, 2008

The Facebook Effect

Retail-sponsored Facebook pages are popping up now more than ever. According to a new study, 59% of polled retailers are already on Facebook, up nearly 30% from just four months ago. Before we dive in on what retailers are doing online (a topic that will be much discussed over the upcoming months), here’s the bottom line question: Are you on Facebook yet? And if not, what are you waiting for?

Who’s ahead in the game? Read the study.

As a side note, my October column, “Priceless Promotions,” sums up the importance of your Facebook presence. Take a peek:

I was floored last month when I read a CNET report estimating that Facebook racks in an average of $35 million in virtual gift sales each year. These virtual gifts, which can range from an image of a birthday cupcake to a pair of stiletto shoes, can be sent from one person to another for $1. The gift is then placed on the recipient’s profile page for all to see. For example, in May… read more.

1 comment:

Adam Cohen said...

Thank you for mention our (Rosetta) study on retailers using Facebook. While I do think the platform is becoming hard to ignore, I would caution retailers establishing a "base camp" in Facebook without really understanding what their objectives are and what communities they are trying to engage. "Social commerce" will continue to grow in 2009, but it needs to be handled properly. Thanks again.