With popular deal sites like Living Social and Groupon offering users large savings and deal discounts on everything from trips to hair stylists, it’s no wonder why Facebook has decided to join in on some of the fun. The giant social networking platform recently unveiled a new component of the site that is set to launch in a few weeks. Facebook Deals hopes to rival the well-known deal makers with a promotional deal and discount platform of their own.
Facebook’s barrage of online social connections is what the company is harnessing as its retail weapon of choice as it makes its presence felt in the market. Facebook Deals will work essentially on the same premise as Living Social and Groupon by displaying deals that last for one day. The site will also, like the others, cap off the deal if the sales numbers fail to reach a targeted number of subscribers. The goal here is to get Facebook users to go viral with the offers. Once users start talking about the deal with their connections, more users will (hopefully) subscribe to or purchase the deal and eventually, the deal will reach a desired targeted number.
For businesses, it’s a win-win situation as it offers ideal word-of-mouth advertising and brings in huge amounts of digital traffic to their site. Since the deals will only be successful if they go viral, if the product or service is something that readily appeals to the user, they will undoubtedly share it with their Facebook friends to help make it a success. To further ensure that users get to partake in the retail fun, the social site will update the news-feed so that users will see it when they log in. They will also be able to view their friends news-feeds as well, drawing even more interest in the current or any future deals, thereby encouraging users to subscribe to the feeds.