Facebook delivers much higher conversion rates than Pinterest or Twitter in terms of social commerce sales, but the average order value is highest for Pinterest users, followed by those referred by Facebook and Twitter, according to a new report by customer experience engine Monetate.
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The payment platform behind the Facebook Card, plastic gift cards that hold all electronic gift cards users have received through the social network, introduced in January, received a different type of payment, as Marqeta Thursday announced the closing of $14 million in series-B funding.
Ecommerce sites that run flash sales on Facebook must still deal with offline logistical issues, such as shipping, which accounted for 49 percent of negative comments in a study of 2,776 conversations on the social networks between customers and flash-sale sites conducted by fulfillment and logistics solutions provider Dotcom Distribution.
Another social commerce tool that allows Facebook users to complete purchases without leaving the Facebook platform debuted this week with ePaymentAmerica’s launch of Yapyzal, which allows retailers to design, post, and share offers on Facebook and complete transactions via secure processing of credit-card and debit-card information.
Facebook commerce provider Ecwid reported continued momentum for small and midsized retailers using its storefronts on the social network, saying that orders rose 37 percent in the first quarter versus the year-earlier period, while sales jumped 26 percent during the same period.
While marketers figure out how to convert sales on Facebook, it appears that Pinterest is beating the social network to the punch. New research from RichRelevance shows that Pinterest is starting to take up a bigger slice of the marketing pie among brands seeking conversions.
Wrapp, which allows Facebook users to send free and paid electronic gift cards to their friends, has said that three new retailers have joined the fold: Victoria’s Secret, American Apparel, and Little Black Bag. Using Facebook as a platform, Wrapp noted that 1.25 million users of its iOS and Android applications have given 11.5 million digital gift cards — seen by 122 million Facebook users.
Social rich media marketing platform ShopIgniter is looking to ignite social and mobile advertising with the latest update to its flagship Igniter platform.
There has been much discussion over what kinds of posts are best to grab the attention of fans (and break through Facebook’s post-sorting algorithm), but a service hopes to give something back to page administrators when they share links. Newly rebranded VigLink Anywhere (formerly just a part of VigLink) helps generate revenue for pages whenever Facebook fans click on shared links and make purchases.
Software is the new snake oil. At the click of a button, you have 1 million fans, incredible engagement, sales coming out of your ears, and your car parked for you. Only that last one is true, by the way. Just because there are more than 1 billion users on Facebook, doesn’t mean your Facebook page has Field of Dreams on all of them. So let’s look at the most common fibs things by tool providers in our space. Nod knowingly or comment below if you recognize them.
