Facebook as a tool for social engagement and brand visibility works fine, but brands do not benefit unless such engagement or visibility ultimately brings in dollars. What better way to ensure this than to monetize through Facebook itself, without having to risk users navigating away from the page to the brand's ecommerce platform?
Payvment, a free Facebook application, allows businesses to set up virtual storefronts on their Facebook Fan pages. The term that's flying around to represent commerce on Facebook is f-commerce, differentiating it from the average online store… e-commerce.
Facebook commerce is relatively simple, and sellers do not have tools or resources to indulge in f-commerce to leverage their fans and followers. Payvment fills this void, providing sellers with a host of intuitive functionality to monetize their presence, and provide buyers with a convenient and hassle-free buying experience.
From the customer's perspective, Payvment offers a universal shopping cart, Open Cart Network, allowing shoppers to carry goods with them across Payvment-powered storefronts on Facebook. This benefits the brand as well, for chances are that the item remains in the cart until the customer removes it deliberately or completes the purchase. A big reason for shopping cart abandonment is the customer moving to another store or platform. Payvment's Open cart Network eliminates this reason.
Payvment offers a host of intuitive features and functionality for sellers, some free and some paid. The Fan Incentive Pricing feature provides a special price for Facebook Fans. The Product Importer allow merchants to upload their entire catalog automatically and seamlessly. A payvment notification system allow merchants to integrate the Facebook store with their in house order fulfillment systems. All these, plus worldwide shipping rate support, multi language support, ability to connect twitter accounts, make Pavyment very appealing for merchants and brands.
Payvment Premium, the paid option, features additional functionality such as product-by-product analytics, product-specific social promotions with coupon codes, up to five storefronts on a single dashboard, and more.
Over 20,000 businesses and individuals have set up shop and over 500,000 Facebook users have shopped since the launch in November 2009. Opening a new store on Facebook is as simple as 1-2-3! To see Payvment in action, logon to your Facebook account, and add the Payvment App (for free).