- How will Market Lodge impact social networking sites?
In conjunction with other eCommerce applications like eBay and Garage Sale, Market Lodge will move social networks to a true "social commerce" model where members are buying and selling products based on their trusted friends’ recommendations. Study after study has proven that user-generated content plays a very important role in helping consumers make online purchase decisions; and the social bond of trust between members of social networks enhances the opportunity for C2C commerce.
In early 2008, social network users began building an aversion to the sea of online advertisements, which has limited the time members spent on the social network. With Market Lodge, C2C eCommerce will monetize social networks and allow users to profit as well. User-generated content from Market Lodge is the key to increase revenue and membership for social networks.
- How does Market Lodge compare with other widgets found on social networks?
Market Lodge is an extremely robust application that connects members with vendors and the social network of consumers. A large percentage of widgets are game and entertainment oriented applications which are designed specifically to gain "eyeballs" for the standard purpose of creating an advertising revenue stream. Because of the often repetitive and simplistic nature of most widgets they have an extremely short shelf-life for members of the social network. Market Lodge is an application that by its very nature will entice members to use more and more as connections within the network and sales are generated.
- How does Market Lodge allow social network users to generate revenue?
Almost every social networking site focuses on online advertising as its primary revenue stream. Market Lodge brings trading transactions (B2C and C2C) to the forefront of social networking. Instead of simply connecting "rolodexes" and linking sites to each other, Market Lodge provides a robust business model where individuals are empowered to use their network to share and sell products they use and endorse.
- How long does it take to create a unique Market Lodge within a social network?
In less than five minutes, Market Lodge enables social network users to build personalized online stores within their profiles. Once created, Market Lodge users can add products and send recommendations to their online friends. This is a fully eCommerce enabled store selling the products from vendors across the US.
- Who are your clients and/or current vendors?
Currently, there are over 100 vendors offering thousands of products on Market Lodge. Vendors and products are being added daily. Existing vendors are small- to medium-sized businesses in the following industries: health/wellness, entertainment, fashion, books, food/beverage, pets and self-improvement.
When does Market Lodge launch? bSocial Networks Market Lodge application is available on the Facebook platform as of March 2008. Market Lodge will be launched on other social networks closely following the Facebook platform launch.
- What is the difference between bSocial Networks’ Market Lodge and selling products on eBay?
Unlike eBay, Amazon and other C2C eCommerce sites, the Market Lodge seller of the product does not have to fulfill the order. Back-end fulfillment such as shipping, payment processing and customer services is handled by the participating Market Lodge vendor(s) and bSocial Networks.
- What site does the secure online transaction occur?
All online transactions occur through a secure PayPal account. Market Lodge users are paid commissions from completed sales through a PayPal direct deposit account.
- How does Market Lodge benefit vendors?
Participating Market Lodge vendors gain access to broad new markets and customers. As the number of Market Lodges increase, vendors profit from a potentially explosive online sales channel through social networks like Facebook. At no cost to join the Market Lodge network, this is the most cost-effective method for vendors to open new sales and distribution channels.
- Does Market Lodge benefit smaller "mom and pop" vendors more than national retain chains?
Market Lodge was intended to benefit small- to medium-sized companies seeking a substantial online presence without a huge marketing budget. Before launching on the Facebook platform, Market Lodge vendors have experienced an impressive ROI, but as Market Lodge grows within social networks, bSocial Networks anticipates Fortune 500 companies to also benefit as part of a multichannel retail strategy reinforcing user-generated content.
- How do members of the social network benefit?
Market Lodge enables social network users worldwide to easily create and profit from their own online stores. Users can recommend products to their online friends, and if the product is purchased, the Market Lodge user receives a 10 percent commission of the completed sale. Social network members also benefit by participating as Market Lodge vendors or suppliers, and as customers in the unique marketplace. Additionally, Market Lodge users can grow their social networking circle by becoming friends with online "strangers" who share similar product interests.
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