Facebook's most popular ecommerce platform, Payvment, announced a new "Weekly Deals" feature that gives sellers the ability to offer up to three deals a week on Facebook and Lish.com, the new social shopping site from Payvment, just in time for Black Friday and Cyber Monday.
Payvment recently surveyed many of its sellers and found that most of them had a strong interest in deal-like promotional strategies, and 48 percent of the respondents said that they planned to run a promotion during the holidays. Some of the early testing of the Weekly Deals functionality showed that "time-bounded offers" drive more conversions; in fact, Payvment found that participating merchants using Weekly Deals last holiday season saw twice as many product views and sales than in weeks prior.
Thanks to Payvment and Weekly Deals, smaller online merchants now have more tools to help them participate and compete in the holiday promotion season, as sellers can now use Facebook to promote their products for Black Friday, Cyber Monday and beyond. Plus, shoppers will be able to use the social network or scour Lish to find deals of 20 percent or higher.
Payvment seems so enamored with Weekly Deals that the company has actually reoriented its seller dashboard around the new functionality in order to simplify the deals management process. Merchants can use the dashboard to launch as many as three deals each week by selecting the products they want to promote, choosing the discount amount(s) and designating the quantity of products that are eligible for the deal. They can then take advantage of Payvment's analytics tools to monitor each deal's effectiveness.
All of the deals are automatically and seamlessly posted into the Weekly Deal feed on Lish at Lish.com/deals. The promotions also appear on the merchant's Facebook news feed.
Sellers looking to offer Black Friday promotions (which run from November 23 - November 27) can go to my.pavyment.com to set up a store and feature their products.
