In the last 24 hours Facebook have announced that they are testing a “Buy” button within ads and page posts enabling consumers to purchase a product directly from a business without leaving Facebook.
For small businesses who don’t want the hassle of managing and updating an eCommerce website, Facebook Buy could be the perfect solution to allow them to grow their business not only further afield but enable existing customers an easier, more flexible route to purchase.
What remains to be seen however is the pricing structure for utilising the Buy button within ads and posts, at present Facebook have stated that they are not currently taking any portion of the revenue for products sold, although credit card transactions will be handled by a third-party payment processing company.
Facebook have advised that they have built this feature taking into account consumer privacy in order to ensure a safe and secure payment experience. None of the payment information will be shared with other advertisers (we should hope not!) and it is up to the consumer as to whether or not they would like to save their payment information for future purchases.
With the testing of the buy button, Facebook are cementing their position as a major player in direct response advertising and it will be interesting to see what their competitors come up with.
So here is what it will look like…
We shall keep track of this and report back once further information is released.