ShopIgniter has had a banner year, and Facebook commerce played a significant role in that.
The Portland, Oregon-based company announced in a press release the best year for business thus far. As stated by CEO Matt Compton, “2010 was a groundbreaking year for social commerce. For the first time, retailers and brands of all sizes were able to conduct e-commerce inside of social networks and activate the referral power of their customers to drive revenue.”
One of the largely successful aspects of the commerce software company’s success comes from the transactional Facebook store offered to customers. Brands working with ShopIgniter can fully control product placement, pricing and every imaginable detail.
Some of the Facebook related successes seen by ShopIgniter in 2010 included:
- The company had 15 to 20 percent of sales made inside of the social network.
- ShopIgniter enjoyed an 8 to 10 percent higher transaction value than other Facebook commerce providers.
- The company noted a 15 percent higher conversion rate when the shopper is driven by a wall post of a friend on Facebook
A specific example of a successful Facebook store powered by the commerce provider is Kembrel, which has 20 percent of its sales coming from a ShopIgniter application on Facebook.
Another important achievement in 2010 was raising $3 million in funding from earliest investor, Madrona Venture Group, and that could drive continued growth in 2011. As the fund’s Managing Director Tom Alberg states, “ShopIgniter is well positioned for continued growth and leadership in a fast growing segment of the e-commerce space.”