When it comes to social commerce, Facebook won't be left behind. The company recently announced that it is testing a "Buy" button that allows users to make purchases directly from their newsfeed and business pages.
It wasn't too long ago that Twitter implemented its own "Buy" button on merchants' tweets. Shortly before that, the company also released its social commerce hashtag, which lets users add products to their Amazon carts by replying #AmazonCart to tweets containing product links. Now Facebook has jumped on the wagon. Here's what we know so far about Facebook's new Buy button and what it means for social selling and small businesses.
What is Facebook's Buy button?
Facebook's Buy button is a new call-to-action feature that aims to help businesses drive sales through the social network, the company wrote in its official announcement. The button appears on sponsored posts and on business's Facebook Pages updates. For users, the button makes it faster and easier for to buy products they see on their desktop and mobile newsfeeds. For merchants, the button gives them access to a potentially powerful sales channel with the same highly targeted audiences that Facebook ads provide. [11 Social Media Selling Solutions for Small Businesses]
How does the Buy button work?
The Buy button works by making purchases more convenient for users. Instead of going through the extra steps of traditional e-commerce sales from ad views — clicking away to a merchant's website, adding items to its online shopping cart, and then proceeding with the checkout process — customers can complete transactions directly on Facebook in as few steps as possible. As reported by TechCrunch, customers simply have to click "Buy," and then pay using either a credit card previously saved on Facebook (such as those used to make Facebook app purchases) or by entering new payment information.
Is the Buy button secure?
Facebook aims to make the Buy button as safe and secure as possible. The company claims to have built the system with privacy in mind, maintaining that payments and other customer information are never shared with Facebook or advertisers. However, customers can also choose to securely save payment information to streamline future purchases.
How can you get the Buy button?
Facebook is currently testing the Buy button with a limited number of select U.S.-based small and medium-size businesses. There is currently no way to sign up for the feature, but the company will provide updates after it gathers feedback and gauges consumer and merchant responses.
Originally published on Business News Daily