Last week, we spent a few days in Dallas gathering with the digital leaders of retail at Shop.org Retail’s Digital Summit. The team at Radius8 had a great time demoing our technology for those in attendance. Especially, our new Facebook functionality which we announced last week (Press Release).
Today, Radius8 announced new capabilities. R8 Social will allow retailers to take the power of their local stores to Facebook in order to drive foot traffic to their brick and mortar stores. Specifically, R8 Social empowers retailers to seamlessly populate Facebook sponsored posts from the Radius8 management console. Powered by Radius8’s trends and analytics platform, local products that are in-stock and highly relevant to the marketplace will be featured in Facebook sponsored ads. Our announcement comes at an exciting time, with Facebook also moving towards supporting local retailing.
On the heels of a stellar earning report at the end of July, Facebook just announced plans to revamp their brand pages, a move aimed at ensuring that their revenue streams from brands continue to drive company value.
We all know that Facebook dominates as the largest on-line social network and now they are looking to dominate a new space, retail. It makes sense. Why not leverage the place that commands so much of your time and focus into a place where you can easily shop? And to make it even more convenient, shop locally. Facebook recently announced a host of new features aimed at allowing retailers to connect customer behavior on Facebook to purchases in brick and mortar stores. This solution will help retailers shed light on a much sought after but difficult to measure conversion metric.