Facebook marking down gifts as much as 80%

Facebook is apparently marking down gifts from its marketplace in order to get more people to use it. Not only that, but you'll also be given the option to "give a gift" whenever your friends get a new job, a promotion, or give birth to a child. Facebook is going to great depths to market its own marketplace. Perhaps it should utilize its own, newly updated custom audiences tool. It could benefit from better targeted marketing, and it can't really boast about the success rate of its tool if its own marketplace isn't doing so well.

The mark downs were discovered by CNET, and they seem to appear when you want to send a gift to a friend for their birthday. It seems a bit desperate because the message that you're greeted with is, "Send a gift of $5 or more and get $4 off." That's a whopping 80% markdown. Yes, the company is willing to lose money in order to get more people to try out their marketplace, which they hope in the future will bring in the returns it had lost. Facebook's marketplace doesn't generate the revenue it wants, so its hoping these specials will turn that around.

Alongside essentially turning part of its marketplace into a Dollar Tree store, Facebook is trying various methods to get its marketplace some publicity. Special sales will emerge around certain holidays, like Christmas or Valentine's Day, and there will most likely be sales centered around the seasons (keep an eye out during Spring and Summer time). However, Facebook does deserve some credit for reminding people to give gifts to those who have something special to celebrate. It's a bit of a guilt-trip, but it is smart.

So if its your co-workers birthday, or your acquaintance's birthday, you can give them a small, little treat to brighten up their day and show them how thoughtful you are. A nice cup of coffee can go a long way in terms of your relationship with your peers, and it's only going to cost you a dollar.

[via CNET]