Facebook introduces new ‘want’ button
The Facebook ‘like’ button is now a familiar sight across the web. It allows website owners to draw traffic from Facebook’s network of more than a billion people by letting them easily share news articles and other material with their friends. Facebook recently revealed the ‘like’ button had been used more than 1.1 trillion times since it was introduced in 2010.
Now, a new ‘want’ button will allow users to announce their desire for a new wardrobe, a new watch or potentially a teeth whitening treatment or a dental product at the click of a button….
The social networking firm is testing a feature that lets people create ‘wishlists’ of home furnishings, clothing and other items, as part of what could become a move into e-commerce. Buy it now! Users will be shown images of products and encouraged to flag them with a ‘want’ or ‘collect’ button. It is currently working with seven retailers, including Pottery Barn and Victoria’s Secret, and will encourage users to buy products through the site or send them directly to the online stores. The ‘Collections’ feature is also being trialled with Neiman Marcus, Michael Kors, Smith Optics, Wayfair and Fab.com.
When Facebook members “want”,”collect” or “like” a product in “Collections”, they will be offered the chance to buy it from the retailer’s own website. The new feature aims to take advantage of the social network by making the details available to their friends. The feature has been compared to Pinterest, a social network that allows members to create a pinboard of products they would like or want to buy.
Soon, all US users will begin seeing messages and images from retailers suggesting they flag products using either a ‘want’ or a ‘collect’ button.
Products you have clicked on will then appear in your Timeline – which is not how the current ‘like’ button works.
Facebook said in a statement: “People will be able to engage with these collections and share things they are interested in with their friends. People can click through and buy these items off of Facebook.”
A spokeswoman said the company will not receive a fee when someone purchases a Facebook wishlist item from a retailer’s site.
Robert W. Baird analyst Colin Sebastian said the new Collections feature could open up new sources of revenue for Facebook, whose stock has taken a drubbing as concerns about its long-term money-making prospects have mounted. “E-commerce is one of the best ways to monetise the Internet,” he said.
“Thinking about how large they are as a platform and how engaged people are, there are lots of levers they haven’t pulled yet in terms of monetisation.”
Retailers might also pay Facebook to promote products featured on users’ wishlists, Mr Sebastian suggested, in a similar technique used in the current ads function.
Obviously this is not available in the UK at the momenet but it will be interesting to see how the trial in the US goes and to see how it could impact on your dental practice. Fore more information on social media, call us today on 01202-677277
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