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Facebook for retail: a faith-based initiative?

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Last week, a small group from the Think Tank met during the NRF's Annual BIG Show to discuss some of the issues our retail members should be addressing in the new year. While some topics to discuss had been mapped out in advance, the conversation was dominated by an active and animated discussion about what true value Facebook has today for retailers.

After many years of retailers hearing that Facebook will change how consumers shop, is it really driving direct business and customers for retailers? Are the results measurable or is there a lot of “faith” involved with calculating the retailer value of Facebook?

Here are a few questions the Think Tank wanted to ask our retail members:

  • How are you measuring the true value of a fan?
  • Do you look at how many fans competitors have and use that as a metric for success?
  • How many people who become fans are existing customers vs. new customers?
  • What percentage of your total traffic and revenue comes directly from Facebook?
  • If Facebook went away tomorrow, how would it positively or negatively affect your current overall profitability?
  • What could Facebook do for retailers to create a more lucrative partnership?

Some of these topics will be covered at the members only webinar on Wednesday, January 26.

What are your thoughts? Feel free to respond to this blog or you can email me directly if you prefer your responses to be anonymous and I will post the responses for you without giving up my source. Thanks and I am looking forward to hearing your thoughts!