Understanding the business environment for Facebook Storefront for a B2B venture

Abstract

Social networks are becoming a bigger part of an individual’s life with the passage of time. The interactive nature of social networks and the solicitation facilities offered by these platforms intrigued the marketers to come ahead and use this platform for the sake of interaction with customers. This gave rise to the concept of online stores, where marketers sell their products to the customers on Facebook particularly. Rocxial is one such new venture; they offer a platform to the brands to create online stores on their respective Facebook pages. The study aims to find out the appropriate bundle of services, customers’ awareness level, willingness to purchase and online business aesthetics of the local market. The research is qualitative in nature. The research was conducted by visiting the urban marketplaces, meeting up with the brand people and accessing the feedback via instruments like interviews and questionnaires. The results showed us that the potential corporate clients overall show a positive sentiment to the idea of an online store and are willing to pay decent amount if pitched properly. The research has been concluded with an action plan and recommendations. The most important of these propositions is to develop a sales pitch that is effective on those individuals as well who do not know the concept of online stores or marketing on Facebook in the local setting.