Facebook has been in the news yet again and this time they've really got the attention of ecommerce businesses with their new “Buy Button”.
The new Buy button has already been showing up for some users as Facebook launched a test trial with a few small – medium sized businesses. Here's what the feature will look like:
As an ecommerce store the benefits are obvious: your customers will be able to make conversions right from Facebook without ever leaving the site – all they need is your ad with a nice shiny new Buy button to complete a transaction. In fact, Facebook will have the option for users to store their credit card information so that future “Buys” are even quicker. Of course this isn't required and is simply intended to make shopping a smoother experience for the customer.
The ability to store credit card information on a website that is already under suspicion by some for not being private enough sets off alarms for a few people but Facebook was quick to comment on the security of the buy button, saying:
“We've built this feature with privacy in mind, and have taken steps to help make the payment experience safe and secure. None of the credit or debit card information people share with Facebook when completing a transaction will be shared with other advertisers, and people can select whether or not they'd like to save payment information for future purchases.”
All in all this looks like it could be the right next step for Facebook and for anyone who advertises with them. But of course these new features don't come without a cost. Expect ads that include the buy button to cost more than your average ad that you see today.
Tell us what you think about Facebook's next play in the ecommerce world. Is this too intrusive? Are people sick of shopping where they socialize? Or is this the logical progression of a company that already heavily utilizes ads?