If the latest social media buzz is to be believed, then Facebook has joined the league with Twitter to test the new BUY button to allow businesses to use the world’s most popular social networking platform as an online store. The button will serialize the potential of users to make purchases on the Facebook platform while connecting with the world.
A press release of the ‘BUY’ experiment was released with the Product News section of the social networking site with a unit release of how the button will appear to be. The button will be a user empowerment which will eradicate the need to skip web pages to make a purchase.
Instead the button will let the user experience the end-to-end sales experience on the Facebook website itself. The sales will be sealed with the credit card details filed with Facebook or a new payment order to be saved with Facebook owing to your preference. The payment information will be additionally covered with the privacy feature that safeguards your details from the vendors.
New Opportunity for Ecommerce players
Over the years, Facebook has reviewed its potential to accommodate the ecommerce streak in its networking code. The Pinterest-inspired Collections feature with ‘BUY’ buttons launched in 2012 reshaped the face of ecommerce. It gradually proceeded to add a ‘DONATE’ button to allure people into charities. But most recently, it has been testing the ‘Auto-Fill with Facebook’ feature which automatically fetches our payment details for a complete transaction as they are stored with Facebook.
The latest announcements of a ‘BUY’ button will not only meat out the conversion prospects for the sellers but will also enhance and make the online shopping experience a smooth process. Parallel to Facebook’s inclusion, Twitter has also ventured into the field of ecommerce by including an experimental ‘BUY’ button. Along with an eventual change in the shopping styles Pinterest too has been making itself available for online transactions like most of the social networking giants.
A successful testing could result in a higher conversion rate and a meatier proportion of revenue sharing among the sellers and the social networking websites. The feature will not only make the shopping experience a smooth transition but will also value-add the return on investments thus boosting the costs implied on online marketing. By shaving down the time and effort from interest to purchase, people could be lured to make purchases while the retailers count their money stacks.