Deal or no Deal?

There's certainly something to be said about the value in launching a group-buying service on the biggest possible group-gathering space on the internet. Question is, are they too late? Time will tell I guess. 

"Whether you're making plans for this weekend or your best friend's birthday or a big anniversary, check out Deals on Facebook today to find cool things to do with friends." - Facebook Blog

Late last night and throughout the day today, Facebook's new deals platform has been getting a lot of attention in the press. I guess people are thinking "oh snap Groupon!" in their heads because as Greg Sterling from Search Engine Land so justly put it, "When I first heard about Groupon a couple of years ago, I immediately thought of Facebook. The model is a natural for the company." Of all the articles written about Facebook's new product launch, I highly recommend Greg's one on Search Engine Land because he brings up some very unique points. After reading that article and others about the launch, here are my thoughts on Facebook Deals: 

1. Deals give more evidence to Facebook becoming the ultimate marketing platform - In order for a company to offer a deal, they must have a presence on Facebook already. As suggested by Greg's article in Search Engine Land, this makes Facebook the ultimate CRM tool. Deals just add another layer to the growing web of tools available to marketers on this fascinating platform. The possiblities to create a truly holistic brand experience are now fully available to marketers. Think of a small business than runs a Facebook deal, gets new customers and then rewards them for engaging with the brand after they have redeemed the deal! 

2. Deals may be the start to the future of currency - Facebook Deals is the first real-world use for Facebook credits. This has opened up the door to an entire world of possiblities. Just think... what if Facebook credits eventually become a universal currency? What if brands were able to reward you for interacting with them by gifting you with Facebook credits, which you could then use to redeem real physical goods? What if you could gift credits to friends in other countries in order to help them buy things? What if Facebook opened up an e-store and invited companies to sell products priced with credits!? 

As you can possibly tell, all this news is quite exciting to me and quite possibly to other marketers out there. Facebook is most certainly the medium to watch when it comes to digital marketing. I invite your thoughts on this announcement and leave you with the words of Howie Mandel... "Deal.. or no deal?"