Facebook has begun testing a new Facebook Buy Button that will allow customers to buy directly from ads and news feeds. As of now, the new feature is only available to a few select U.S. businesses, but others are clamoring to get in line to test the new feature.
Facebook has released tools in the past to entice users to purchase and donate.
In 2012, Facebook released “Collections,” which was originally created to be a Pinterest-like virtual wishlist. Users could show their collections publicly allow friends and family to also “collect,” “buy” or “want” the things in their collections.
Then there was “Donate” which has since been replaced by “Donate Social.” It’s free to use for all on Facebook and requires minimal setup, a PayPal account and email.
However, this new Facebook Buy Button feature is a little different.
This Time Privacy Is Important — Really
This time, Facebook promises to keep user information more secure, something that has been a perpetual problem for the company in the past. In a recent post in the Facebook for Business blog, the company explained:
“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.”
A lot of users still remember the fiasco that landed Facebook in hot water, with users claiming “Facebook has ruined Christmas.” In 2007, the company released a feature known as “Beacon.” It was supposed to share insights about users purchasing history. Instead it shared (publicly) the actual items they bought.
It seems they’ve learned their lesson and are trying to promote a more secure experience all the way around.
A More Consistent Purchasing Experience
In addition to privacy, users can look forward to a more consistent purchasing experience, according to Facebook. The new Facebook Buy Button is designed to keep users inside Facebook, which means a shorter sales funnel, a better user experience and higher conversion rates. There are fewer steps to the purchase.
Taking a user outside Facebook has never yielded great results for business owners. Facebook users are known to flee from shrinking sales funnels like passengers on a sinking ship. The new Facebook Buy Button keeps the user inside Facebook, which means keeping them in their comfort zone.
This is especially true for mobile users which make up the majority of Facebook members today. With mobile commerce growing faster than ever, keeping users in the app is going to be good for everyone.
Some More Details on Payments
Payment processing will be handled by a third party. However, users will have the option to store payment details with Facebook, making the purchase even more streamlined.
While the new Facebook Buy Button is still in the testing phase, the button will remain free for business owners to use once its released to everyone. It’s believed that Facebook is likely to charge a fee or percentage of each sale, but no one from Facebook has confirmed that.
There are more than 25 million small business pages on Facebook. Only a small handful have been given access to the new feature, but small business owners are optimistic about its results. A quick look at the comment section on Facebook’s announcement post reveals that many are eager for their chance to try the new Facebook Buy Button for themselves.
Social commerce is on the rise with tools like Soldsie, so the new button is certainly Facebook’s bid for a piece of that market. Facebook ads have already proven themselves to be efficient. Now small business owners may have another weapon for their Facebook arsenal.
There is no official word from Facebook yet on when the new Facebook Buy Button will be rolled out to everyone, however.
Hmm. Interesting. I’d need to see it. As a user, I’d like to see a recognisable PayPal buy button within Facebook – one that I’m used to.