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Zuckerberg dissected, part 2: Facebook Credits as an equalizer

Zuckerberg dissected, part 2: Facebook Credits as an equalizer Lori Luechtefeld
Continuing my commentary on Mark Zuckerberg's recent interview with Inside Facebook (part 1 can be found here), let's take a look at what the CEO's plans for Facebook Credits mean for marketers.

Facebook Credits, a virtual currency you can use to buy gifts and virtual goods in games and applications on the Facebook platform, is the social network's answer to the current state of ecommerce on Facebook, which, in Zuckerberg's words, "kind of sucks."

He notes, "One of the biggest inefficiencies in buying virtual goods is all the friction of having to take your credit card out, so having one store of [virtual currency] that you can use everywhere is both good for users and good for all the apps."

According to Zuckerberg, Facebook plans on "pouring all the money that we make on Credits back into things like different offers or cards that people can buy in stores, to lubricate the economy so people will buy more stuff in apps." And once consumers open their minds and wallets to shopping in apps, that opens up a whole lot of ecommerce opportunities for marketers. Furthermore, there could also be exciting opportunities to leverage Facebook Credits through fan reward and interaction programs, which have already proven quite popular among users.

Lori Luechtefeld is publisher of iMedia Connection. She came to iMedia in July 2008 from Canon Communications, where she served as managing editor of an executive-level business magazine in the medical technology field. Prior to joining Canon, Lori...

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