Gary Hayes has created this dynamic chart that demonstrates the real-time growth in social media. Pay attention to the ratio of virtual product sales and the REAL gift sales on Facebook. Then ask yourself 2 questions…
1. Is there room for growth in selling real gifts in social media?
2. Who is moving the real gift sales in social media forward, besides Facebook?
We watched the chart for 60 seconds and determined that over $10,000 was spent on virtual goods in the same time that less than $140 was spent on real gifts in Facebook.
We realize that this is an apples to pears comparison, because virtual goods encompasses all social media channels and Facebook gifts only measures a portion of a small service on one social network. And the chart does not track all of the real products sold by affiliate links from social sites. But it does show an opportunity for growth, especially when you consider that social media is a virtual mimic of real human interaction and that virtual purchasing mimics real-life purchases.
Here is the thing you might want to consider… If people gather together in these internet social spaces and spend money on virtual things for each other, why wouldn’t they do the same thing for real gifts?
Think about this comparison:
Let’s assume that you sell me a virtual gift at $1 dollar, as a birthday wish for cousin Earl…
The result: You, Earl and I are all somewhat happy with this small gesture.
Now assume that you could sell me a $25 real gift at a 12.5% profit.
The result: Earl gets something real that he can enjoy beyond his computer screen. I get the satisfaction that comes with providing some true support to Earl. And you get $3.12 for facilitating the gift-giving.
Now all we need to do is find a fun way to pass out the real gifts in the social networks…. Any ideas?