Facebook introduce a buy button. And they will soon be launching this newest feature. This button will allow the Facebook users to buy items from adverts and other posts without leaving the website.
With the main source of revenue on Facebook coming from advertisements, the company are looking to expand their sources of commerce. The Facebook buy button is designed to help increase profits and increase accessibility for the user.
The company stated that the buy button is just a ‘small experiment’ and to not confuse this with Facebook ‘selling things directly’.
Other companies are keen to see how Facebook will differentiate themselves from other advertisers. Mobile advertising is an interesting market but is still yet to be fully explored.
Facebook is one of the few companies that can take mobile advertising to a higher level. Experts think that this includes integrated and personalised content-based ad products, however this is not in place at the moment. The Facebook buy button will help to achieve this next level of mobile advertising for Facebook.
Currently ads that you click on redirect you to the apps or other URLs where you can make a purchase. Users will only be interested in so many apps before the novelty wares off but it could be very successful. It is as yet unknown how well this buy button will be received but it should be an interesting experience and help online retailers increase their reach.
With Facebook reaching around 1.32billion monthly users there is a lot of opportunity for the buy button. And with Facebook’s revenue reaching $2.91billion for the quarter ending June 2014, there should be plenty of funding for the addition of this new feature.
Daily users reach around 829million and it is estimated that most people spend around 1 hour on Facebook. Mobile ads are worth 62% of all ad revenue so all in all the buy button is set to do very well indeed!
