Facebook “Buy” Button – Everything You Need to Know
Facebook is currently testing a Buy button, a new feature that will allow its users to purchase goods and services through the site. The button appears below adverts and Page posts at the bottom right hand corner.
The Buy button is a new move for Facebook, and indicates that it’s serious about making money from mobile. Twitter launched something similar four months ago. The big advantage Facebook has is the data it holds about you, and that’s what will help it target those Buy buttons to attract clicks.
What About Privacy?
Facebook hasn’t always got its privacy settings right, but it seems to be learning from its mistakes. It says that the Buy button has been made totally private, so that payment information is held by Facebook and not shared.
Users can save payment details on Facebook, but they can also make a one-time purchase without storing those details on its servers. Of course, Facebook is still showing those ads based on other information, such as your profile and Likes.
Will It Work?
Facebook has been changing the way it offers advertising for some time, with Facebook Exchange being the biggest recent shift. It now needs to move towards transactions, because Facebook needs to bring in more money from its active users. Right now, more than 1.3 billion people use Facebook frequently, and its shareholders want to see it capitalize on that audience.
The Buy button is currently being rolled out as a limited beta to a small audience. It’s a very subtle grey button that blends into the background; don’t expect miracles. The Buy button will only be useful for some brands, such as things that are difficult to find or have their own niche. If it’s available in a store round the corner, users won’t use Buy to purchase it.
Facebook is clearly intent on making money from ecommerce features, and it has experienced numerous false starts already. This might be the one its developers work on hardest.