It isn't all negative they are prepared to pay for digital music

85% of P2P downloaders would be interested in paying for an unlimited, all-you-can-eat MP3 download service. 57% of these said such a service would stop them using unlicensed P2P services, and 77% that they would still continue to buy CDs.

Guest blog by Jenny @soldsie I first heard about Soldsie back in September via techcrunch I thought being able to buy a product by writing "sold" in the comments under a Facebook picture sounded like an amazing idea. If they can make the transactional section of a sale on Facebook easy, i think small businesses will love it. So much so that I found myself telling my friends about it over dinner that night and several businesses since.   So when Jenny Xie at Soldsie wrote asking if I accept guest blogs and if she could contribute one on F-commerce? I excitedly said yes and so without further ado, here is my first ever guest blog by Jenny @soldsie

In the words of one curly-haired crooner, the times—they are a-changin’. Mashable recently published an infographic announcing that by 2015, social commerce sales will make up 50% of all online purchases. That’s huge! The recent shopping flurry around Thanksgiving, Black Friday, Small Business Saturday, and Cyber Monday had social media experts analyzing traffic from Facebook to brand webpages, but less scrutiny was placed on Facebook storefronts themselves. We think that’s an unfortunate oversight.

Despite lots of hubbub around F-commerce, such as this study on Facebook fan-economics by Social Commerce Today, businesses are still largely struggling to monetize their Facebook fan base. The transition to selling on Facebook may seem foreign, but with social commerce growing in prominence, it’s crucial to cash in now—here’s why.

Take Advantage of the Mobile Facebook User

Mark Zuckerberg announced at a TechCrunch Disrupt SF conference that mobile users are “more than twice as likely to use Facebook more than 6 or 7 times per week.” In light of these metrics, Facebook is aggressively optimizing its site for mobile users, which bodes well for companies selling on Facebook. App users who check their phones during mealtimes, daily commutes, between appointments, etc. are exposed to Facebook sales and Page status updates, whereas they’re much less likely to pull out a laptop during those crucial windows of time. Company brand Pages that maintain a strong Facebook presence become integrated into their fans’ social experiences and are positioned to benefit from impulse buys.

Sell Smart; Sell Social

Facebook supports a seamless integration of sales and marketing forces. With the Soldsie platform, retailers post products to their brand Pages, and fans purchase by commenting “sold.” It’s a sales channel that doubles as a marketing tool, since Likes, Comments, and Shares get pulled onto the fan’s News Feed and broadcast through their social network. Customers are automatically invoiced and don’t have to interrupt their Facebook experience as they shop. Alternately, other Facebook commerce apps like Payvment and BigCommerce introduce a shopping cart to your Page that links to a separate storefront for merchandise. In all cases, small business owners now have the horsepower to compete with huge brands by selling socially.

Make Shopping A Sport

Selling on Facebook, and selling through Facebook comments in particular, have an irresistible aura of newness and excitement. Successful merchants like Accessory Auctions host biweekly sales that gather over 32,000 fans onto the Page to comment “sold” in an effort to “win” the jewelry before quantities run out. The sales event generates lots of buzz for the Page, draws in new customers, and allows existing fans to be more active than if they were just browsing a webpage. 

Create Conversations Around User-Generated Content

Facebook is prime real estate for fan interaction—arguably more so than any brick-and-mortar location. One in 3 small businesses manage Facebook Pages and maintain fan relationships by posting updates, offering exclusive deals, and hosting contests. With co-creation of content becoming a more integral part of marketing campaigns, businesses are taking advantage of the forum that Facebook provides for customer reviews, contest entries, and feedback. The effort doesn’t go to waste, either: 36% of users promote brand content on their Timelines, and 20% of consumers would rather purchase through Facebook than a company’s website.

Build a Brand Personality - But Don’t Be a “Condescending Corporate Brand Page”!

That said, it’s important to remember that Facebook remains a place for brands to be genuine. The tongue-in-cheek Condescending Corporate Brand Page pokes fun of thinly-veiled attempts to gain Likes without offering compelling content. Get Satisfaction and Column Five created an infographic that reveals how 38% of users unlike Facebook Pages with boring or repetitive updates. Posting exclusive sales on Facebook stays true to the merchant’s agenda and provides real value to fans.

The Bottom Line

Selling on Facebook and selling through comments are robust ways to reign the power of social media to your company. Not only will your Facebook Page gain exposure, but it will also reward fans with opportunities to buy great products and strengthen that consumer bond. 

I have to give Kred some Kred.

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