The rate that Facebook implements changes seems almost Darwinian, and in this case, the strongest most definitely survive. With over 500 million active users, it is becoming more than just a social stop for brands and consumers alike. The next big step? Facebook E-Commerce.
Since the growth of Facebook as a major player in the social media sphere, brands have been flocking to the site as a means to build community and drive traffic to their sites. But as Facebook continues to grow and as its’ users continue to get more comfortable on the platform, brands are beginning to see the value in moving traditional website features to their fan pages. Some have already embraced the idea – Hallmark, the NBA, Gibson Guitar, & Brooks Brothers to name a few. And the idea seems to be peddling forward with incredible speed: this trend isn’t going away.
There are even startup companies who are buying into the digital storefront idea full force. 8thBridge and Payvement are two companies who work with brands to create a unique online shopping experience through their Facebook pages. They seem to understand the power of purchasing through the world’s largest social networking site.
“People are 18 times more likely to buy directly in their News Feed than when clicking off to a separate website,” said Wade Gerten, chief executive of 8thBridge.*
Benefits of Facebook Shopping
There are tons of pros supporting Facebook E-Commerce. Consumers find Facebook a space where they are comfortable. Part of our strategy when working with Facebook is finding ways to keep consumers there rather than pushing them to a microsite or website. Shopping on a page seems to be the next logical step. It lets consumers stay where they like to be and purchase their products in a simple, streamlined manner.
There is also tremendous sharing power. Facebookers are witnesses to all actions that their online friends take. And because users are more likely to click links or like pages that their friends also “like,” it only makes sense that they’d also be likely to buy the same products. What more can companies ask for? It is word of mouth marketing at its finest.
Potential Downfalls
There are a few cons to adding Facebook stores to your page. Consumers might be wary to actually purchase from Facebook for privacy or security reasons. It also brings up the question of how websites will fare in the future. Will they be the hub that consumers are driven to? Or will they serve as an informational platform second to a brand’s Facebook page?
*E-Commerce startup information & quote courtesy of Forbes Social Markets blog.