So it looks like the financial services industry has got the social commerce bug. Yesterday we covered Amex’s innovative open-graph powered Link-Like-Love rewards program that offers personalized rewards based on Facebook Likes and activity, and today ING bank (Canada) is running a group-buy deal to acquire new customers on dealoftheday.com.
Showing posts with label group. Show all posts
Showing posts with label group. Show all posts
Friday, July 22, 2011
ING Bank runs Group-Buy Deal to Acquire New Customers [Screenshots] | Social Commerce Today
Tuesday, April 26, 2011
A First Look at Facebook's New Deals
Tomorrow, Facebook’s new Deals feature will be launching in five cities around the U.S.; here’s a first glimpse of how those offers will look and function.
First, users who opt into Deals will get to see opportunities specific to their locations. Those offers will arrive via email or, in some cases, will appear in the user’s news feed on Facebook.
To be clear, these aren’t like the checkin-based deals for mobile users that Facebook launched for its nascent Places platform; while the initial mobile Deals product competed with Foursquare, the new product competes more with Groupon.
Each deal will have its own Facebook landing page, as shown below. Users can “Like” a deal, share it via several channels on the site, or opt to buy it right away. When purchasing the deal, users can pay with credit card or Facebook Credits.
It’s unknown whether Facebook will make more money from Credits purchases than from traditional ones. A rep said via email, “We’re not disclosing details about revenue splits, but paying with Credits will work the same way as paying with a credit card. It’s simply another way for people to pay for Deals. We think this just makes things easier for people using Facebook.”
Check out the gallery below for a walkthrough of signing up for, finding, buying and sharing the new Facebook Deals.
via mashable.com
Wednesday, April 13, 2011
All you ever wanted to know about Group-Buy in 10 infographics | Social Commerce Today
The Visual Bible to Daily Deals Services: How Do Daily Deals Sites Work and How Do They Make Profit? by DailyBits
Check out the source for 9 more infographics..
Friday, March 25, 2011
Can Banks and Credit Card Issuers Outflank Groupon with Merchant-Funded Rewards? (NetBanker)
Groupon may be the biggest company in history that everyone thinks they could have built. Facebook, I guess, is up there too.
It seems everyone is wondering how they could do the "Groupon of (fill in the blank)". In my world, the blank is "banking." I already wrote about the potential for selling financial products through Groupon and other flash marketing sites last July, so I won't repeat that part. Anyway, that's Groupon 1.0.
It's Groupon 2.0 that I think is even more interesting for financial institutions. The new model, coming in a few weeks, is all about mobile deals.
The company is said to be planning on adding two buttons to your smartphone:
I'm hungry...which will alert you to nearby Groupons you can use for food deals.
I'm bored...which will alert you to just about anything else Groupon sells.
It's brilliant. And so simple. Again, everyone will wish they'd built it.
___________________________________________
Banking Opportunities
________________________________________________So how could you do the same thing in personal finance? What would those buttons be?
- I'm broke....leads to ATM finder, cash-back location, credit card site, loan app, friends & family loans, P2P lender, etc.
- I've just been paid...leads to ATM finder, branch locations,
deposit accounts, billpay, investments, automated savings plans, etc.- I'm out of town...leads to ATM finder, FX locations, travel services,
resource locator, notifies card issuers, security preferences, etc.But those are all pretty much standard functions of online/mobile banking today. The bigger opportunity may be to beat Groupon at the local level, with merchant-funded rewards tied to debit/credit cards (see note 1). Banks could potentially use the same "hungry/bored buttons" and direct customers to cash-back deals at restaurants and other merchants making offers to your cardholders.
Bottom line: Location-based rewards is another example of why mobile banking will be more important than online banking. To put it simply:
Banks enable commerce.
Mobile enables location-based commerce.
So financial institutions are right in the middle of a multi-billion dollar shift in retail spending. Enjoy all the opportunities!
-------------------------------------------------
Notes:
1. For more on merchant-funded rewards, see the latest Online Banking Report.
2. Picture credit: All Things Digital
via netbanker.com
Thursday, January 20, 2011
The Gifts Project Unwraps – eBay & Index Ventures Inside
Consumers are led through a flow where the group buy is initiated, friends are selected, contributions are tracked, and finally the gift is provided.
Early testing and data from eBay Group Gifts has shown a significant increase in average ticket price. That is, the average sale price of an item.
With social commerce exploding, timing couldn’t be better for The Gifts Project. The obvious question is will they be able to scale their business? Time will tell of course, but it certainly feels the stars are beginning to align for them. Now there’s only that pesky little thing called ‘execution’.
via techcrunch.com
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