As you’re probably well-aware, Facebook recently launched their new application platform at the f8 Keynote. This platform allows third party developers to create “applications” or widgets within the social graph that Facebook has built and query user data that can then be incorporated into said application. This is an amazing opportunity for businesses to gain access to a wealth of information about their consumers. And Facebook doesn’t stop at merely creating and pulling data from their social graph. Facebook is allowing and encouraging people to build applications, in which, users can complete monetary transactions directly within the Facebook platform.
The idea is that if a user never has to leave to visit a third party website, then the conversion rate for people who actually purchase a product will be greater. What’s more, is that Facebook allows you to run advertising on your application’s canvas page and you keep any and all revenue generated by that ad.
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