Social commerce spotlight: Soldsie allows retailers to make instant sales within Facebook comments
San Francisco-based start up Soldsie has launched a social media point-of-sale platform that allows retailers to sell goods through their Facebook comments, or from a purchaser’s perspective, simply by typing the word ‘sold’ into the comments section beneath an item’s image. Yep, it really is that straightforward.
After a one-time sign up with the Soldsie application, shoppers can visit any of the company’s 75 clients on Facebook, which range from clothing shops to jewelry stores, and type ‘sold’ into the comments of items that take their fancy. They also include an email address, and so using Soldsie’s back-end service the company automatically invoices the consumer (or takes automatic payment, if the customer has chosen to provide their credit card details on initial sign in).
Sounds very novel, but it’s actually working. And working well. Soldsie created $300,000 worth of transactions for its clients during August alone, and a total of £1 million since May. Soldie’s doing well, too, taking 3 percent of each transaction.
Why so successful? Well, it requires pretty much zero effort on the consumer’s part: look it, love it, buy it. Literally in seconds. Never has there been a stronger facilitator for impulse buying than this. Add to that the implied pressure to ‘get it while stocks last’. If a customer can see scores of others bashing ‘sold’ into the comments it makes the product desirable and even more sought-after because of its increasingly limited availability.
And let’s not overlook the fact that, really, it’s a sales method made for social. As Soldsie Chris Bennett told TechCrunch: “What a lot of what the big brands have done is that they’ve buried their stores in tabs. You had to click on a tab to go into a store, and then you’d have this shopping experience that’s similar to a website. It didn’t really make sense on social.”
The instant gratification that Soldsie provides, though, does make sense on social. So maybe f-commerce isn’t dead after all – perhaps marketers have just been looking in the wrong place for success.