Company Pioneers Facebook Credits as E-Commerce Incentive

Oct. 4, 2010

Ifeelgoods, an e-commerce marketing company that provides virtual goods and currencies—rather than coupons, discounts or rebates—to online merchants for use as incentives, announced it is the first company to use Facebook Credits as an incentive to online shoppers. In addition to traditional incentives that persuade consumers to make purchases, the Menlo Park, Calif.-based company also offers what it calls “micro-incentives” (rewards with values from around a dime to $.50) for online activity like signing up for email newsletters or sharing a product with a friend. Facebook Credits—a virtual currency that can be used to purchase digital goods and services across the popular social network—can be aggregated to incent a larger purchase or doled out a few at a time as a micro-incentive. “Facebook Credits can be used in more than 150 social games and apps on Facebook, which makes them versatile and valuable,” said Suchit Dash, Ifeelgoods co-founder and vice president of product. “Our work with Facebook allows retailers to begin innovating with Facebook Credits to drive higher sales, increase customer engagement and deepen loyalty.”