Buy Buttons on Social Media Help Everyone
“We are heading toward a future where Instagram and Facebook could be amongst the largest retailers online. Their new focus on enabling transactions is likely to solve one of retail’s biggest problems: the extremely low conversion rate of shoppers on mobile phones.”
This is a quote from this article posted on WWD.
Yes, social media networks are going to launch buy buttons on their websites. It makes sense for them. They have millions of users that engage with their sites daily. They have millions of users who interact with advertising daily. Why should those people leave Facebook or Twitter to make a purchase from an ad? The more time people spend on these sites, the better.
Fortunately, it also makes sense for retailers.
The same article above says the following:
“Enabling transactions to happen on content sites is becoming one of the highest priorities of social media sites, as it dramatically speeds visitors’ browsing and shopping experiences, anchors them on their sites, and increases the likelihood of purchases.”
The key to the quote is the last five words: “…increases the likelihood of purchases.” To put this in context, currently “only five to 10 out of every 1,000 visitors to a mobile site today will actually place an order.”1 Any increase in mobile shopping will drastically improve retail conversion.
It’s not just conversion either. With social media data at hand, you can make the shopping experience consistent and more personalized for your customers. As we have said before, consistency and personalization help build a loyal and happier customer base.
1 Seiff, Ken. “Think Tank: Powering the Purchase With a ‘Buy’ Button.” WWD. WWD, 09 Mar. 2016. Web. 19 Mar. 2016. <http://wwd.com/retail-news/trends-analysis/buy-buttons-impact-retail-10385268/>.