Social media marketing is about to take another significant leap in attracting customers. Impulse shopping is an area of study marketers specialize in – how to transform casual observers and window shoppers to serious buyers. Facebook and Twitter have taken this a step further to make social media the new impulse marketing target for marketers. They are testing a “Buy” option which will allow users spotting new fashion trends or other product ads to go ahead and buy them right away on the social network itself where they saw them. Facebook and Twitter are looking to enhance their role in shopping with this option.
“Buy” Button in the Experimental Stage
Twitter is testing the “Buy” button among a limited group of users while Facebook is also experimenting with it for small and mid-sized businesses in the US. This will enable users to purchase within apps through a few taps or clicks. Users’ personal information can be saved so that they don’t have to enter them every time they make a purchase. Alternatively, they can also choose against saving of data.
Both these social networks have been collecting information regarding the shopping habits of their consumers and are putting that to good use. All that retailers have to do is post the information about the products they wish to sell on Twitter or Facebook. Consumers looking to buy the product only need to click the relevant button and directly enter their credit card data on the respective social network without going to the retailer website. The social networks would be looking to monetize their efforts by receiving a minor percentage of each sale.
Prompting People to Grab One
According to a recent survey by DigitasLBi, while 20% of Americans would think of making purchases through a social media site, only 5% of them have actually done that. All that could change with the “Buy” buttons by Twitter and Facebook. They tap into the massive potential out there in social media marketing, particularly among youngsters. The DigitasLBi survey also revealed that 42% of Americans would purchase on a social network if they could trust it with their credit information. Security concerns around financial data were the greatest deterrent for social commerce. If the 20% considering social shopping actually do it, the amount spent on this could amount to $56 billion.
Impulse Purchasing may not Benefit Users
The buy button plan is also stirring up controversy as they encourage purchases on an impulse. People sometimes give no thought to what they post on the social networks and then regret it after the trouble it’s caused. But now there is the risk of people giving no thought to what they buy, getting what they fancy at the spur of the moment, and then possibly, regretting it later. While that’s a disadvantage for the user, for marketers this is quite like honey dew as this could significantly increase their sales while Facebook and Twitter could increase their income too by securing a percentage of each sale.
Though the “Buy” button is still in the experimental stage, most people in the Internet marketing and analysis field predict it will be a grand success and open a new chapter in ecommerce. There couldn’t be a more psychologically oriented development in social media marketing since shoppers have always displayed the tendency to get hooked to something the moment they see it. The “Buy” option helps marketers capitalize on this impulse in a massive way.