Venda, the SaaS provider of on-demand e-commerce has reported that UK retailers will eventually start to capitalise on their Facebook presence this year as they are now better positioned to make use of the immense volume of data this social media channel delivers.
According to Venda’s CEO, Eric Abensur, 2013 will be extremely beneficial to retailers’ performance on Facebook as they will begin to understand what data derived through Facebook means and learn how to convert it into money.
Businesses have been quite reluctant to believe that such a free-of-charge platform could be turned into a real stream of revenue. They were particularly discouraged to embark on this wild-goose chase when Facebook revealed in August 2012 that 88 million of its 955 million user accounts were in fact fakes, the Huffing Post said. Recent data, however, implies that brands are beginning to come up with wiser strategies for their social media presence, which is evident from the higher cash they generate – in October, online ticketing company Eventbrite said that every time someone in the UK shared an Eventbrite event on Facebook, 22 of their friends and contacts clicked on the link, generating an extra £2.32 in revenue for each share.
Abensur praised British retailers for their creativeness, saying that he expects that it will help them enhance user experience and provide subscribers with the information they require in an engaging and interesting way. The CEO also predicted that online and offline services will continue to blur the lines even more vividly, as more retailers will start offering online vouchers in-store. Click and Collect services will gain traction in 2013 as well, he said.