Facebook Testing ‘Want’ Button: What to Expect
This week, Facebook officially introduced the ‘Want’ button and started testing it with a list of seven selected brands, including Victoria’s Secret, Neiman Marcus, Pottery Barn etc.
The new system, which also includes a third button, a ‘Collect’ button, has the potential to transform the way brands use Facebook to influence purchase decisions, promote their products and engage with their current loyal fans and potential buyers. Some users will see the ‘Want’ button as part of the test, whereas other users will see a button inviting them to ‘Collect’ an item.
How does it work?
Similar to the Pinterest board, brands will be able to create catalogs on Facebook by means of the new feature called ‘Collections’. Facebook’s more than 1 billion users will thereby be able to ‘Want’, ‘Collect’ or ‘Like’ certain products within the different ‘Collections’. They will also be directed to the retailer’s own website and offered the chance to immediately buy it from there:
“People will be able to engage with these collections and share things they are interested in with their friends. People can click through and buy these items off of Facebook,” Facebook said in a statement, according to Reuters.
What does it mean for brands?
As Stine has already written in a previous blog post, there are several potential benefits that brands should consider, especially now that we are only one step away from the ‘Want’ button becoming reality.
The new ‘Want’ button will give brands the opportunity to identify the fans who have a real intention to buy their products. As opposed to the ‘Like’ button, which does not necessarily indicate a desire to purchase, fans can express their wish to possess the product and eventually buy it by pushing the new button.
If properly analyzing and tracking the traffic sent from their ‘Collections’ boards to the actual website, marketers will furthermore be able to collect even more data regarding their users’ purchase patterns. Retailers will, for example, more easily distinguish between the most and least popular products and which visual way of presenting products generates the most sales.
Expand fan base and product awareness
As Facebook is a social platform, fans will be able to share their “wish-lists” with their friends. Once a person clicks on the ‘Want’ button, the shopping item and wish-list will appear on their Timeline, thereby enabling brands to reach even more people.
Even though the ‘Want’ button is still in beta version, chances are that it becomes available to all users in the near future, where the US market is most likely the first on the list, according to Reuters. Therefore, it may be a good idea to start considering the pros and cons of the new feature, so that you can be prepared to start using it in the most valuable and efficient way for both your company and your customers.
What do you think we can expect from Facebook’s coming ‘Want’ button? Please share your thoughts with us in the comments section below.
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