F-commerce: The next step in E-CommerceIf you manage an ecommerce website and are social-media savvy, I’m sure you’ve come across the terms “F-commerce” and “Social Commerce.” But what exactly do these mean? And what is in it for you, the store owner?

Social Commerce and Facebook Commerce (or F-commerce) is a growing trend in the e-commerce world. With the huge growth in Facebook and other social media sites, store owners and online marketers are growing wise to the huge potential of selling directly through social media platforms. Take Facebook for example. According to CreativeFeed, of FB’s 600 million users, 50% log on every day. 25% of FB users have made a purchase via the FB page of a brand. 41% of users are more likely to recommend a “liked” product to a friend – a large reason is because of the simplicity to do so. And on average a Facebook fan of a brand will spend $71.84 more per year than a non-fan. Why?

Social media sites like Facebook have been inadvertently designed to promote the shopping environment. Think back to the days when our fore-fathers shopped in local open-air markets. Often you would go with family and friends, and visit the vendor you knew or was recommended to you. This principle of trust through social interaction holds true to this day. Harris Interactive, a leader in strategic brand marketing, asked consumers “What sources influence your decision to use or not use a particular company, brand, or product?” 71% of respondents say that reviews from family and friends carry significant influence.

This increased social interaction leads to increased conversions and revenue. Business Insider writes about Incipio Technologies – which sells gadget peripherals - successes using Facebook as a commerce platform. The company reports that Facebook has been their #2 source of traffic since July 2010, conversion from a FB generated shopper is 2x greater than normal, and shoppers generated from FB are 3x more likely to add a product to the shopping cart. Social media marketing consultants Efficient Frontier found that 53% of retail transactions involving FB directly converted (from FB to check out).

The time to ask yourself whether you are ready to take advantage of this trend is now. Purchase our Facebook Social Commerce App for AspDotNetStorefront.