The newly released annual look at the digital world from online and mobile measurement firm comScore makes it quite clear that retailers better be ...
An IRCE speaker will discuss how to grow and monetize a Facebook fan base.
Successfully driving revenue out of your Facebook fan base requires more than just putting up a Facebook store and creating links to it, says Krishan Agarwal, president and CEO of Melrose.com, LLC, a leading independent online luxury goods retailer with more than 200,000 Facebook fans and $10 million in sales.
To properly monetize your Facebook as well as other social media fan bases, your web site must integrate Facebook into its web site seamlessly, Agarwal will tell attendees at the Internet Retailer Conference & Exhibition 2012 to be held at Chicago’s McCormick Place June 5-8. At the conference, Agarwal will present a session entitled “Ways to drive shoppers from social media to your site.”
“Businesses should view Facebook as a unique market different from online search,” he says. “Businesses should create unique programs that go over and above simple social media branding.”
By viewing Facebook as a target market different from Google and eBay and by creating comprehensive incentive programs to support their Facebook fan bases, Agarwal says, retailers should be able to begin to generate significant revenue from Facebook and other social media web sites with little to no cannibalization of existing sales.
Internet Retailer’s editors asked Agarwal to speak because of his successful record as an entrepreneur.
Initially creating Melrose.com as a hobby, he single-handedly grew the company to over 50 full-time employees, opened offices in 4 countries, and grew revenues to over $10 million in the company’s first two years. Prior to Melrose.com he was an analyst in the hedge fund and venture capital industry where he has spearheaded several successful investments.