Facebook Rolls Out Self-Serve Facebook Offers Version to All U.S. Businesses
Facebook has rolled out a version of Facebook Offers to all U.S. businesses. Facebook Offers enables businesses to create their own customized offers and share them with their followers on Facebook through their news feed. Customers can then use the offer coupons for redemption in stores. Facebook Offers has been in beta for months and, until now, required Facebook marketing representatives to work with brands to create and manage offers. With this new roll out, Facebook has created a self-serve platform for businesses, which enables them to handle their offers, discounts and other deals on their own, using a simple dashboard. [1]
Facebook Offers to compete with Groupon & other daily deal services
Using Facebook Offers, businesses can leverage their Facebook audience to drive sales through coupons, and also build brand loyalty among customers. Facebook currently allows businesses to create Offers for free, but may eventually charge a certain percentage fee or force the use of Facebook Credits to purchase offers, generating a significant amount of revenue in the process.
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If Facebook Offers provide good return on investment (ROI) to businesses, it could also drive them to spend more on Facebook ads to increase their potential fan/follower base on the network.
Facebook Offers could not only drive advertising revenue, but also become an integral part of Facebook’s Social Commerce foray, which is expected to generate increasing amounts of revenue going forward.
We currently have a $82 billion Trefis price estimate for Facebook, most of which is derived from its advertising and virtual transactions businesses. Social commerce accounts for nearly 5% of Facebook’s total value. It will compete primarily with Groupon (NASDAQ:GRPN), Amazon (NASDAQ:AMZN), eBay (NASDAQ:EBAY) and Google (NASDAQ:GOOG) in social commerce space.
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