(This is an excerpt from an article written by Roger Katz, CEO of Friend2Friend, and posted on iMedia Connection, February 27, 2012. For the full article, go here.)
Within the last year, marketers have raced to grow their legions of Facebook fans. In fact, it has become a badge of honor, so to speak, among brands to reach the million-person-Facebook fan count. The reasoning goes, “Once I build up a sizeable fan base, I’ll figure out if, and how, I can monetize them.” Many see social commerce as poised to experience massive growth in the next few years. Booz & Company recently predicted that sales from social commerce will hit $30 billion worldwide and $14 billion in the U.S. by 2015. And with a majority (58 percent) of consumers now researching products online before purchasing, it’s time to close the loyalty loop and try integrating true social elements into the online purchase. What does that mean? I buy something. I tell two friends. And they’ll tell two friends, and so on, and so on (our nod to the 80s Faberge commercials).
Read more on iMedia Connection, about ways to jump start your social commerce campaigns on Facebook and other social platfoms.