What is the value of a Facebook like? As a retail store based in Romania, Billa sees it as a way for consumers to indicate their support and interest in a product or service. In order to put this social tool into practice in order to boost sales, Billa created the Social Catalog.
Unlike a printed catalog that showed shoppers fixed prices, Billa's creation handed power to the people, allowing them to determine the amount that products would be discounted in the span of 24 hours.
Simply, people visiting Billa's Facebook page were asked to like a product if they would be interested in purchasing the product at a reduced price. After the allotted time, Billa would let people purchase the product with a discount of up to 50 percent off.
What Makes This Trend Stand Out
- Social Discounts
- Using social media to crowdsource in-store discounts and promotions.
- Customer-driven Pricing
- Empowering customers to determine pricing and discounts based on social media engagement.
- Social Catalog
- Creating interactive and participatory product catalogs using social media tools and strategies.
Sectors Adopting This
- Retail
- Implementing social media strategies to drive sales and engagement at physical retail locations.
- Marketing
- Leveraging social media as a tool to engage customers and drive revenue through innovative pricing and promotional strategies.
- Consumer Goods
- Using social media to get real-time feedback from customers and creating personalized, responsive pricing and promotional strategies.
