July 12, 2011

Is it Time to Consider Running an F-Commerce Business?

Running an online store is now easier than ever before. Today, you don't have to rent out an office space just so you could be a retailer. E-commerce has now taken a new name: F-commerce. Facebook has now transformed social media from just a marketing strategy into an online commercial platform.

F-commerce refers to commerce that is influenced by and executed on Facebook. According to the F-commerce Ecosphere Visual, commerce on Facebook are three-fold: F-Stores where shoppers can buy goods from retailers using real currency, Deals on Facebook where consumers pay for featured Facebook deals from merchants using credit cards, paypal or Facebook credits and Facebook credits which is used for games and other apps within the Facebook community. Commerce off Facebook are also three-fold: Facebook In-Store Retail, Facebook Check-In Deals and Facebook Open Graph.

Facebook users have had issues with privacy and security but this doesn't deter retailers from seeing a powerful and lucrative opportunity in tying up with the social networking giant. Because of its robust customer base, it has attracted businesses of all sizes and from all over the world. What F-commerce offers is convenience and brand engagement, both of which are appealing to consumers and this is what entrepreneurs would control should they decide to take on this trend.

The key to running an F-commerce business is engagement. After all, Facebook is first and foremost a social networking site. Failure to be relevant and engage with potential customers on the site may mean failure of the business itself. You could only go so far in marketing your brand. At the end of the day, what counts is your energy to take an active part in the community.

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