Our very own Klay Huddleston took the stage with:
- Kevin Colleran, Director of National Sales at Facebook
- Brian Seewald, Director of eCommerce at The Limited
- Adarsh Pallian, Founder and CEO of Justbought.it
Brian talked about how The Limited is making e-Commerce work in the social space because it's not about being a volume driver, but about exclusivity. The Limited can play out its role as a fashion adviser--exclusively for people who Like the page--giving fans a reason to Like/like them.
Adarsh explained how Justbought.it evolved as a social experiment stemming from our desire to tell everyone what we just purchased. Go to Twitter Search and type in "just bought it," or just go to Justbought.it and get the full experience.
And not only is the social web driving commerce in new ways, but it's changing commerce. Kevin talked about the "staggering projections" of applications on Facebook and other networks and platforms selling virtual gifts -- not advertising. People will spend a dollar for a virtual Happy Birthday balloon or even $100 for a pair of virtual Diesel jeans for their avatar.
My favorite quote (from Kevin) "There is a very nice business to be made just selling virtual cows." Yes, you Farmvillers know who you are. Marketers, pay attention.
Adarsh pointed out that another great change will occur when geo location ties into social shopping.
Lots of interest from the audience in the power of Facebook and a good question about how Facebook monitors the cool factor -- making sure it doesn't lose its coolness and its members. The question was met with a good answer from Kevin--a great answer, in fact. Facebook doesn't try to be cool. Paraphrasing Kevin, he said Facebook is such a utility in people's lives. It's the first site they check in the morning and the last one they check at night. "That's beyond a coolness factor -- it's much more about functionality and that is more important."
Comments