What is social commerce? Wikipedia defines it this way: "Social commerce is a subset of electronic commerce that involves using social media, online media that supports social interaction and user contributions, to assist in the online buying and selling of products and services."
Let's consider F-commerce or Facebook commerce. It's a subset of social commerce and e-commerce, referring to commerce executed on or influenced by the Facebook platform. Retailers, businesses, and brands are testing a multitude of F-commerce models, and it is not just about pure e-commerce transactions; F-commerce naturally supports social interactions and user contributions. To break it down, we are seeing the terms "commerce on Facebook" and "commerce off Facebook" emerging.
Commerce off Facebook (on other sites): This is commerce that takes advantage of Facebook's Open Graph, allowing shoppers to sign into Facebook from any online site with a PC or mobile device. There are many early examples of merchants using Facebook Social Plug-ins such as like, share, or recommend or with a deeper integration using Facebook Connect.
Why the excitement over F-commerce? It is where the eyeballs are, with 600+ million users, 50 percent visiting daily. A major game changer are Facebook Credits. For the first time, they are being used as a currency for real-world goods. We are in the early stages of F-commerce. Its evolution will be tracked here in my postings.
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Janice Diner is an award-winning creative director and technologist working in the area of social and emerging media technology and founding partner at Horizon Studios. Janice and her team built CATALYSTA, a sales force activation platform that engages, motivates, and rewards sales teams.
She is a pioneer brand builder in Facebook, serves as an advisor at the MaRS Discovery District, and was a judge at the Cannes Advertising Lions. Janice has a track record of accomplishment developing multiple social initiatives for global brands such as Motorola, LinkedIn Canada, TSN, Sony PlayStation, Hertz Car Rental, LexisNexis, to name a few.
Prior to starting Horizon Studios, Janice has held senior positions at Syncapse, Euro Havas, and Interpublic (Segal Communications).