Social Medias Buy Button
Where do your customers hang out? Chances are a large percentage of them are on social media, hence why companies are trying harder than ever to be likable entities on the major social platforms. People share everything on social media, including recent purchases, renovation projects completed around the house, and favorite designers. With so many people tweeting, posting and updating statuses that revolve around shopping it only makes sense that social media sites would find a new way to cash in on this.
Facebook, and Twitter are two popular social media sites that have already started to use “Buy” buttons. With a click of a button, this feature allows social media users to purchase products without leaving the social media platform. This offers a world of opportunity for businesses looking for new ways to increase sales. Read on to learn more about the latest “Buy” buttons and how they can benefit your business.
Facebook Buy Button
Last year, Facebook used a “Buy” button for the very first time in their July News Feed. The technology behind the button is the startup company known as Stripe.
The “Buy” button allows users to instantly purchase items advertised or mentioned through their news feed by simply clicking a button. That’s it. You don’t even need to visit another site. The technology is cool for both consumers and advertisers, although it’s not quite ready yet. The “Buy” button is still in the testing phase.
The button will be very beneficial for businesses, as someone doesn’t have to do anything other than press “Buy” to purchase a product from registered vendors. Facebook already allows users to click on news stories and other links without actually leaving Facebook. They are now creating the same seamless reality for purchasing things as well.
According to Facebook, the “Buy” button was built with a heightened focus on privacy. They have created a payment process that is safe and keeps your information secure, in fact the business that receives your purchase will not even see your credit or debit card information.
As of right now, the “Buy” button is limited to a few select small and medium-sized businesses as it is still in testing stages. Facebook is currently collecting feedback and making all necessary changes so that the “Buy” button is perfect before it becomes a staple feature. Facebook announced this back in July of 2014, and so hopefully we won’t have to wait too much longer!
Twitter Is Tweeting “Buy Now”
Twitter has also partnered with Stripe to create “Buy” buttons for their site. Twitter first released the news last year around the same as Facebook. Through both Twitter and the Twitter app you can use the “Buy” button to purchase a product you see on Twitter without leaving the Twitter platform. You are instantly directed to a page that details shipping details where you can quickly make your purchase.
Twitter started rolling out the “Buy” now button in September but they have been cautious with it thus far, using it almost as sparingly as Facebook. The company picked just 26 nonprofit businesses as well as musical artists to demo the button. Some of the well-known names they originally hand selected include Eminem, Wiz Khalifia and Brad Paisley. And at first, only two retailers had any access to the feature, including Home Depot and Burberry.
Since September of 2014, the company has continued to add new names to the list and expand users ability to shop directly from the social media site. Twitter even hired Mr. Hubbard, the former CEO of Ticketmaster, to help expand the commerce department at the social media site. Thus far, Mr. Hubbard has remained rather hush-hush about future plans for Twitter.
On the same day that Facebook reveled its click-to-purchase “Buy” button, Twitter tweeted its own successes by acquiring a new company called CardSpring. CardSpring is a digital payment platform with the ability to provide Twitter with a way to process payments on everything from clothing to food and donations. Two-months before Twitter purchased CardSpring they partnered with Amazon. In a conference call with Twitter’s CEO, Dick Costolo said their partnership with Amazon was just another test, but a positive step in the right direction to exploring all of the commerce options Amazon offers.
Whispers Of A Pinterest “Buy” Button
Do you use Pinterest as part of your marketing campaign? Pinterest is ideal for certain industries although many businesses forget about it, too busy keeping up with larger social media sites such as Facebook and Twitter.
Pinterest is still a very popular site with approximately 70 million monthly users. The site is centered on ‘pining’ ideal outfits, interior designs, meals and more to your Pinterest wall. With neat products and creative decorating ideas routinely shared, this site clearly knows how to fuel the desire to shop. Pinterest offers an incredibly appealing platform for displaying good-looking products. A number of big-name sites have created new platforms clearly modeled after Pinterest, such as eBay’s new homepage with its grid format.
Pinterest is really a digital corkboard, and analysts have been waiting for the brand to transform into a digital mall. It only makes sense, after all Pinterest is where people go to find things they want to buy. While many pins offer click through links that direct you to a product page, this is a lot of work compared to simply clicking a button to ‘buy now.’
Plus, when you order from a new site you must type in all of your information and upload your card number. This is a lot of work, and it would be a lot easier (and more tempting) to make a purchase without all of the tedious forms to fill out.
Representatives of Twitter have declined to comment on the possibility of adding a “Buy” button; although it’s about time they do so. Twitter rolled out their version of a “Buy” button last year. And let’s be real, Twitter’s constant stream of text is not nearly as inviting to purchase from as Pinterest’s beautiful display of products meant to tempt all palates.
Pinterest did reveal they will be adding App Pins to their platform, this feature will allow users to automatically download apps on Pinterest by clicking the “Install” button. The company also announced the purchase of Kosei, an ad tech firm that will help match up appropriate pins with the right target audience.
Another report reveals Google has already started to jump on the “Buy” button wagon as well. Users report seeing ‘buy now’ options on certain ads revealed in search results.
All of the social media platforms will want to incorporate easier access to the digital marketplace if they want to remain relevant. eMarketer estimated that this year’s global e-commerce market would make more than $1.7 trillion in sales. If social media wants to clock in and get some of this money they will need to incorporate features like “Buy” buttons.
What Does This All Mean For You?
Unless you own your own social media platform you aren’t too concerned about adding “buy now” buttons to your site. Still, that doesn’t mean these nifty features won’t change the way you do business. The introduction of features like this show that social media sites are not just for the individual, they are also thinking of business. If you are not on social media interacting with customers and advertising you are really missing out. Businesses need to remain up to date on the changes and additional advertisements offered by social media, as they prove an impressive impact on marketing efforts.