Welcome to the second part of the F-commerce series.
My previous article “F-commerce: Facts and Figures” provided an introduction to F-commerce and today I’d like to highlight some success stories from around the world. I also explain why they are successful to help you form your own F-commerce strategy.
The following F-commerce examples are an excerpt from Social Commerce Today’s article: List of F-Commerce Success Stories:
2) Eventbrite: Every Facebook share generates $2.53 in ticket sales. It takes on average 24 shares to generate a new sale (based on latest average ticket price). Eventbrite also found that a Facebook “Like” generated $1.34 in sales.
3) P&G: Sold 1000 diapers in under an hour on its F-store
Before you rush into building your F-store, consider this:
Both Ticketmaster and Eventbrite leveraged the power of word of mouth or the power of the status update and like. Their fans actually do the selling and marketing for them and that is mainly their secret to generating sales via Facebook.
If your product or service is only average, you may struggle to find people to endorse your product on Facebook. This will affect severely the success of your F-commerce strategy.
In the case of P&G’s massive diaper sales, a commodity like diapers coupled with the convenience of buying it online is a recipe for success itself. The fact that the diapers were sold via Facebook does not really matter. They probably sell that many in any other shopping facility.
Tesco offered some really sweet deals for their Facebook fans which resulted in fantastic sales for the supermarket. However, everybody likes a bargain and that contributed greatly to the success of Tesco’s F-commerce strategy. It would not surprise me if similar sales had been achieved with paper coupons from a newspaper.
There is not doubt that the figures presented here build a strong case for F-commerce and the first movers have had tremendous success. There will definitely be a huge growth of Facebook stores over the next year making it harder not to consider extending your retail space into Facebook.
It remains to be seen whether the whole F-commerce hype is slightly inflated and only a few first movers have success with it.
For more info on F-commerce, check out also this article: The F-Commerce FAQ