Fanbank, a Santa Monica, CA-based startup, aims to give thousands of small business owners a greater opportunity to reach online buyers by creating digital credits that can be redeemed in stores through quickly created Facebook ad campaigns, a new twist on BOPIS.
In its beta phase, Fanbank publishes offers to Facebook’s ad platform and in emails, with plans to add other channels including Twitter, Alexa and Waze in Q2 and Q3 of this year. The offers show up in consumers’ Facebook news feeds; soon businesses will be able to publish them to their own Facebook pages as well.
Fanbank’s commerce platform integrates a business’ existing point of sale (POS) system, mobile devices and customers’ credit and debit accounts. Using Fanbank applications, small businesses can merchandise and price their offline goods and services for sale online by transforming them into digital credits that can be purchased anywhere.
Through Fanbank’s account-linked stored value system, small business across categories can offer customized, one-click mobile purchases of credits. Its transaction processing technology makes hundreds of data points available, allowing businesses to deliver personalized experiences.
Hundreds of campaigns are pre-built, such as for common holidays and other promotions, and can be customized and pushed live in a few minutes. Businesses can set parameters such as the offer value, start and end date and conditions (minimum transaction value, number of units available, one per customer, etc.).