Are Facebook Credits the Future of Social Video Commerce?

Are Facebook Credits the Future of Social Video Commerce?

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.

Are Facebook Credits the Future of Social Video Commerce?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.)

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:

Are Facebook Credits the Future of Social Video Commerce?

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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Posted in Social Video
About the Author -
Grant Crowell is a veteran “social video stylist” working in video marketing since 2005. He has worked in the online marketing industry since 1996 providing digital strategies and development to enterprises and entrepreneurs of all sizes, including Video SEO, YouTube marketing, video UX best practices, performance testing, legal issues and ethics. Contact Grant @ http://grantcrowell.com/. View All Posts By -

What do you think? ▼
  • Babak Maghfourian

    Hi Grant,
    I just read your editorial about social video commerce and wanted to introduce VideoClix to you. Great article btw.

    We have been pioneering clickable video and eCom videos since 1999 with clients such as Apple, Disney, Viacom, MTV, ESPN, ABC, Kraft foods, Playboy and Discovery channel to name a few.

    VideoClix allows viewers to click on any object in-video to learn, shop and play.

    It works natively in sites like Facebook.
    http://www.facebook.com/pages/VideoClix/126291220768493

    The technology not only enables direct sale of products but it's a great tool for contextual ad delivery. So it allows publishers to monetize each click with a delivery of an IAB ad unit.

    Please give it a try and let me know what you think.
    Best Regards,
    --
    Babak Maghfourian
    Tel: 604.618.8889

    • http://www.reelseo.com/about/mark/ Mark R Robertson

      Yup Hey Babak, we know you and videoclix - http://www.reelseo.com/clickable-video/ Good to hear from you, it's been a while since we caught up. Good to hear things are going well.