In case you missed the announcement, shopping on Facebook is about to become a reality. Although it is only in the testing phase at the moment, Facebook has introduced a new “Buy” button that allows users to purchase products directly from their site.
How Shopping On Facebook Works
Shopping on Facebook is made possible by something known as direct response advertising. You see a product and you respond by adding the item to your shopping cart. The ads will appear in your News Feed and you are able to purchase the item directly on Facebook without leaving the site. Facebook transforms shopping by conveniently making purchases easy for the consumer and simultaneously Facebook emerges as a significant online retailer. Considering that Facebook has over one billion users, that equates to over one billion potential customers with the power to make purchases on their site. The immense sales potential of the once social network turns Facebook into a powerhouse. It has the potential to transform into a serious online retail platform.
A Few Things To Consider
Here are just a few concerns that you may or may not have thought about.
1. I know Facebook is great for staying connected with friends but do I really want them to have my credit card information? After all, they have captured all my personal history and connections and now they want access to my finances as well. It is frightening to think how much personal information they will have.
2. If I need to talk to someone at Facebook about one of my purchases, need to get a refund, or have a problem shopping online, will Facebook be responsive and provide a customer care department?
3. Do parents need to worry that their children may be making “in app” purchases resulting in shocking credit card statements?
4. Cyberloafing or wasting time at work on the Internet is a major time killer. Will all of us be spending more time at work on Facebook since the “Buy” button makes shopping easier?
Are you ready to shop on Facebook?