Ifeelgoods Helps Online Retailers Incentivize Customer Actions with Facebook Credits

Newly launched shopping incentive platform Ifeelgoods today announced that it will help retail websites to give away Facebook Credits as rewards to customers. Users can earn Credits for making purchases, sharing with friends, clicking ads, signing up for email updates, or for redeeming loyalty program points. Facebook Credits have a low cost but a high perceived value, especially to social gamers who are often online shoppers, making them a more cost-effective incentive than discounts and rebates. These so-called “micro-incentives” could become a powerful way to entice customers to follow a call to action.

Retail websites first add some simple javascript code to display messages such as “Buy this dress and get 25 Facebook Credits” or “Post to Facebook and get 3 Credits.” Users then click a Facebook Connect button, allow the Ifeelgoods app access, and the Credits are automatically deposited in the user’s Facebook account. The integration will only be lightly branded as powered by Ifeelgoods.

The company is part of Facebook’s app2user program which enables apps such as ShopKick and Rixty to help merchants and loyalty program operators offer their customers Facebook Credits in lieu of other rewards. This effectively creates another payment method for Credits where users pay or create value for retailers who in turn pay Facebook. The Ifeelgoods team comes from Shop.org, PayPal, Google, and French media agency AGORAD, and has received $1.1 million in seed funding from Tugboat Ventures, Kima Ventures, Quest Venture Partners and angel investors. A number of undisclosed retailers are ready to implement the incentive program upon launch.

The company’s VP of Product Suchit Dash explains that Ifeelgoods has purchased a pool of full-priced Credits from Facebook, and one possible business model would be to sell them at-cost to retailers along with a set up fee for implementing the integration. Later, the company hopes to get discounts from Facebook for bulk Credits purchases, netting it a margin on each Credit sale.

Dash says ifeelgoods Credits incentives are similar to offering “free shipping where the perceived value to customers is seven or eight dollars, but the cost for retailers is three or four dollars. Five Facebook Credits are worth more than their actual value to someone heavily invested in FarmVille. We’re aligning ourselves with a currency which has potential. As users begin to be able to buy online books or music with Facebook Credits, the perceived value of the Credits expands.” By providing a low cost way to encourage users to spend money, give up contact information, and distribute marketing messages, Ifeelgoods shares the buying power of social gamers with online retailers.

Sponsored Post

Hands-On Social Media Training for Beginners


Social Media 101
In our Social Media 101 boot camp, you’ll determine the social media sites that matter most to you, based on personal and professional goals. Starting May 13, you will learn the best practices for using Facebook, Twitter, LinkedIn, Google+, Pinterest, Instagram and Tumblr, along with complete personal profiles on each site. Register today!

Leave a Reply

2 Responses to “Ifeelgoods Helps Online Retailers Incentivize Customer Actions with Facebook Credits”

  1. Pavlov says:

    So the monkey pushes the right button and gets a bit of apple as a reward, is that about it?

  2. Skinner says:

    The monkey must push the left button to get a bit of apple. Other than that, yes, that’s about it.

interested in advertising with inside facebook?

Social Media Jobs
of the Day

Consumer Social Media Manager

3D Systems
New York, NY

Digital & Social Media Manager

Beauty & Entertainment Company
Brooklyn, NY

Social Media Editor

OZY MEDIA, INC
New York, NY

Director of Public Relations and Social Media

Hospital for Special Surgery
New York, NY

DIGITAL & SOCIAL MEDIA MANAGER

Beauty & Entertainment Company
Los Angeles, CA

Featured Company

Join leading companies like this one and recruit from the nation's top media job seekers on the Mediabistro Job Board. Every job post comes with our satisfaction guarantee. Learn More
 

Our Sponsors

Also from Inside Network:   AppData - Facebook & iOS Application Stats   PageData - Engagement Data on Facebook Pages   Facebook Marketing Bible   Inside Network Research
 
home | site map | advertising/sponsorships | about | careers | contact us | help courses | browse jobs | freelancers | events | forums | content | member benefits | reprints & permissions terms of use | privacy policy Copyright © 2014 Mediabistro Inc. call (212) 389-2000 or email us