In this Slideshare presentation, I showcase real examples of using Facebook Credits with interactive product video, and some exciting high-level possibilities of how video can be utilized for doing not just virtual commerce, but real tangible commerce with Facebook Credits.
The following is a newly-released and revised presentation I had originally created for my "Facebook Credits and Social Video" session at Mediabistro's AllFacebook Expo, which was held June 28-29 in San Francisco. (Special thanks goes to Duncan Alney of Firebelly Marketing for substituting for me, and helping me on the content and Powerpoint presentation for our audience.)
A Brief Overview of Facebook Credits
Facebook Credits became the mandatory virtual currency on July 1st of this year for buying virtual goods in many games and apps on the Facebook platform. Some marketers are predicting the next major step for Facebook will go beyond simple, social interactions to true social commerce – buying real products and services using Facebook Credits.
If you want to learn more about Facebook Credits and social video, I encourage you to also check out my articles over at the Video Commerce Consortium blog, links provided below. (The VCC blog is focused on video in retail and eCommerce, and there is a lot of valuable information for marketers and video professionals in general to gather.)
- Facebook Credits Gaining Momentum in eCommerce: New Opportunities and Challenges for Retail Video
- Will Facebook Credits Revolutionize Social Video Commerce and Retail?
Table of Contents
In what I believe is the first ever presentation on Facebook Credits and Social Video, I cover the following topics and questions:
- What is "virtual currency" and "virtual goods?”
- What trends are we seeing with virtual goods?
- Why Facebook launched 'Credits'
- How Facebook Credits works
- Who's using FB Credits
- Why marketers and video professionals should pay attention to FB Credits
- Analysts forecasts of FB Credits' impact on advertising and eCommerce
- Challenges of FB Credits
- New marketing uses and possibilities with FB Credits
- The special opportunity with video for FB Credits
- The relationship of "social video" with FB Credits
- Real examples of "social video commerce" on Facebook
- Remaining questions about FB Credits
Is Facebook Credits Really The Future of Retail and Commerce?
Here's Jay Feitlinger, Founder and Digital Marketing Strategist with StringCan Interactive, discussing potential applications of Facebook credits during NRF's Innovate 2011:
While it's too early for most business and consumers to really get involved with Facebook Credits for now, I do foresee that Facebook's own virtual currency will mature in the next year or two and provide lots of new content, marketing, and commerce activities for both video professionals and marketers in general once FB has worked out the kinks. For now Facebook seem to be content with working with the larger social game developers and brands on offering FB credits to their consumers (as we've reported here earlier with Clorox's video ad on Facebook). I think it will be exciting to realize the possibilities for us all if Facebook does succeed in having it's Credits program "go mainstream" – i.e., beyond just social gaming, and into real currency.
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