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Facebook Commerce.

$FBThis Wednesday’s Struming looks at Facebook Commerce or “F-Commerce”. F-Commerce  is the latest trend which recognizes the influence that Facebook has in executing and/or influencing commerce. This trend was reinforced by the February 2012 Media Audit FYI, which says the following from a new study that the Media Audit recently conducted:

“ With Facebook now the most visited website in the world, the study concentrates on Facebook users and their activities as consumers. According to the study, nearly half (49.3%) of all adults across The Media Audit’s 80+ measured markets have visited Facebook’s website within the past 30 days. The figure represents more than 71 million consumers age 18 or older. The most promising statistic for retailers is that Facebook users are 30% more likely than the general population to have made at least one online purchase in the past year. According to the study, 84.8% of Facebook users have made at least one online purchase in the past year, compared to 65% of the general population. Furthermore, Facebook users are 40% more likely than the general population to be heavy online shoppers, making at least twelve online purchases in the past year.

Facebook users are typically more financially optimistic and more affluent when compared to the general population, thus bolstering their collective buying power. According to the study, 44.2% of Facebook users are “Financial Optimists”. In other words, they are optimistic they will be better off financially six months from now. Those who are optimistic about their financial future will be more likely to spend money or borrow money to finance large ticket items such as automobiles. Among all U.S. consumers, only 36.4% consider themselves financially optimistic, a figure that has declined from 44.6% in 2006, a nearly 20% drop in a five year period.

Furthermore, Facebook users can be defined as more affluent when compared to the general population. Among Facebook users, 38% have a household income of more than $75,000, compared to 30.6% for the general population. Additionally, Facebook users are 26% more likely than the general population to earn more than $150,000 in annual household income.”

As we all know at this point, Facebook is an omnipresent worldwide communications giant. Facebook is also an economic tidal wave and its influence makes it a goliath. The size and financial power of Facebook was discussed in an earlier Struming, Facebook: The Social Network Cash Register. The challenge for every marketer is to step back and think through their social media strategy, which most probably includes the use of Facebook and other platforms as well. Social media is WAY past a fad.

I’m fortunate that I’ll be part of a business group that be visiting the Facebook (and LinkedIn) headquarters later this month and meeting with leaders from Facebook, LinkedIn & Twitter. The objective of this trip is to better understand how to harness the growing power of social media and learn what’s around the corner. I can’t wait.

I look forward to sharing what I learn. In today’s world nothing stays the same for long, and the only thing anyone can count on is that “Change is the Status Quo”.




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