Saturday, October 02, 2010

Online RetailersInterested In Facebook Virtual Money

This blog post will probably interest Christophe Ducamp, our French expert in virtual money. You can speak for hours with Christophe about this interesting topic. Facebook has recently released its “Facebook Credit” virtual money. It allows you to buy some gifts to your friends.

Some brick & mortar retailers are already selling Facebook credits in their stores, thanks to gift cards, but some online retailers are also very interested by this new money. Hence, some companies like 1800 flowers in the US is already generating substantial revenues thanks to their Facebook page.

Actually, online retailers are thinking about using Facebook credits as incentives for their loyalty reward programs. This is smart to leverage the great potential of Facebook in terms of customer relationship management. Hence, instead of giving actual cash back, they can give credits for their Facebook contacts.

As a real community, Facebook has added a money, which will also help Facebook to retain their users. It is very interesting to see how people will adopt this new feature. Especially, it will be great to see the versatility of Facebook credits, meaning the range of products or service you may acquire with it.