In its second-largest acquisition, Amazon buys the company for $970 million.
Discussions are more important than selling via the social network, an IRCE speaker says.
Facebook has become an efficient customer acquisition source for many successful e-retailers but only for ones that use it correctly, according to Jon Fahrner, CEO of independent clothing retailer Moxsie.com. The company uses Facebook to learn about its customers rather than to sell directly via the social network, and Fahrner says the approach is working.
In a session entitled: “What e-retailers need to know about Facebook" on June 17 between 1:15 p.m. and 2:45 p.m. at Internet Retailer’s Conference & Exhibition 2011, Fahrner will discuss how stories, lifestyle references and discussions about pop culture with Facebook followers can enable retailers to tap into large pockets of new customers.
“At Moxsie, we have learned that transactions are not social,” Fahrner says. “But indicators from a small amount of Facebook followers may be enough to tell you where to spend your marketing budget with an extremely attractive customer acquisition cost. “ Fahrner will be speaking with James Keller, senior vice president of marketing and business development at online retailer ShoeBuy.com.
Internet Retailer’s editors asked Fahrner to speak because he has extensive experience in several facets of e-retailing. Fahrner has been CEO of Moxsie since February 2009. Early in his career, Fahrner was hired as the third employee at online shoe retailer Zappos.com, where he was part of the operations team. He later built Zappos' action sports and urban footwear categories. Following Zappos, he rebuilt the e-commerce division for Arthurberen.com, a multichannel footwear and accessories retailer.