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Tim Peter Thinks

Tim Peter

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August 16, 2013

Facebook Isn't Offering a Mobile Payments Platform. But What They Are Offering is Far More Interesting.

August 16, 2013 | By | No Comments

Facebook moving into commerceOn yesterday’s podcast, I mentioned that Facebook was launching a PayPal competitor as reported by AllThingsD. Turns out, not so much.

But, what they are doing is really interesting all the same.

TechCrunch clears up the confusion noting Facebook’s payments test is a companion that fills in billing info. Key story highlight:

” The feature pre-fills credit card and billing info for making easier purchases through PayPal, Stripe, Braintree or other payment processors in third-party mobile apps. It’s not a payment processor itself, but could help Facebook prove the ROI of its ads.” [Emphasis mine]

Now, clearly there’s a need for this kind of app. I’ve mentioned before how poor usability hurts the growth of mobile.

But the bigger trend, one I’ve mentioned in the past is that “he who owns the data, owns the customer.” (You can read more about that in my presentation on where marketing and online distribution are headed below):

Companies like Facebook, and its AGFAM brethren—Apple, Google, Facebook, Amazon and Microsoft, plus eBay who deserves an honorable mention—recognize the value of customer data.

You’d think Facebook would love to get a piece of the highly profitable payments pie. But this move shows where they believe the real value lies.

If you’re interested in learning more about the future of marketing on the social, local, mobile web, register to receive a special report I’ve produced in conjunction with hotel marketing firm Vizergy, “Digital Hotel Marketing in a Multiscreen World.” While it’s targeted specifically at hotel and resort marketers, the lessons apply to just about any business. You can get your free copy of the report here.

You might also enjoy some of our past coverage of the social, local, mobile web and what it means for your business, including:

Tim Peter

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April 11, 2013

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March 7, 2013

Tim Peter

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February 6, 2013

Can Facebook Deliver Sales?

February 6, 2013 | By | No Comments

Can Facebook deliver sales? Zappos says yesMashable looks at Zappos Facebook activity over 2 months and finds it drives 85,000 website visits. Money quote:

“Overall, each status update during the period had a conversion rate of 1.75%, meaning that roughly one person in 50 clicked from the update to buy something. Bryan Eisenberg, a marketing ROI expert, says Zappos’ results are decent since the average conversion rate for retail is 2% to 3%.”

So, Zappos isn’t just getting traffic from their Facebook marketing, they’re also getting sales (though I would caution most people from reading too much into “industry average conversion rates”).

Again, the key point is that they’re getting sales. Today. Right now.

Social commerce (much like mobile) maybe something you’re looking at “in the future.” Just remember that the future’s already here.

Interested in more? Sign up for our free newsletter and get more information on how to build your social, local, mobile marketing strategy.

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Tim Peter

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January 25, 2013