This week, Facebook introduced early stages of its plan to take over the world. Okay, not the world, but a huge part of the World Wide Web: e-commerce. Here are three things to know before your News Feed turns into a catalog.
Why Should Retailers Hop on Board?
Desktop-dwellers are dwindling and people are spending 85% of their time on smartphones in apps. This means shoppers aren’t visiting their favorite retailers’ mobile sites very often, and when they are, they’re unsatisfied. When consumers find a product they like on their smartphone, they usually switch over to their desktops to purchase, but most give up before they even reach that second step. By introducing new e-commerce features, Facebook hopes to make the smartphone shopping experience more accessible and enjoyable, therefore increasing mobile conversion rates.
How Will They Do It?
Soon, your Facebook News Feed will have an option to become your personal shopper. Based on your connections, likes and interests, your shopping feed will feature products catered to you. With click-to-purchase buttons in both the shopping feed and Facebook ads, buyers will be able to initiate as well as complete a purchase without ever leaving the social network. Start practicing the art of restraint.
Another way to shop will be through a brand’s Facebook page. Consumers—over one billion per month—are already visiting their favorite brands’ pages to learn about products and promotions. It makes sense that they will be able to shop in this space as well.
What’s In It For Facebook?
If all goes according to plan, brands will see less activity on their own websites and more purchasing activity on their Facebook pages. Facebook isn’t taking a cut, but brands will want to continue purchasing Facebook ads if they’re seeing an increase in sales. If these new features are super successful, we can also expect Facebook to start charging more for its services.
Don’t forget to share this post! If you want to know more about the different ways your brands will be able to utilize Facebook’s new e-commerce features, read Facebook for Business’s blog post: “Connecting People to Brands and Products on Mobile”.