Not content with Pinterest having all the eCommerce fun, Facebook recently rolled out “Collections” – a new feature that allows online retailers to add “Want,” “Collect,” and “Buy” buttons to posts about products.
Here’s a quick rundown: clicking “Want” adds a product to a “Wishlist” on a user’s Timeline. “Collect,” adds it to a Pinboard-esque page called “Products.” On the “Wishlist” and “Products” pages, the “Buy” button directs users to make purchases offsite.
The “Wishlist” is visible to friends of friends, while the “Products” page is only visible to direct friends.
These new Facebook features are a big win for eCommerce. Not only are they great for promoting sales, but the new features also have huge potential for generating friend-to-friend referrals via Facebook.
“Collection” activity is visible in users’ news feeds allowing friends to engage with a collection and share new products they’re interested in. Clicking on the “Buy” button gives Facebook users the opportunity to buy it right from the retailer’s website.
We know that social media networks love images—they’re by far the most effective generator of click throughs. In fact, posts on Facebook that include a photo increase fan engagement by 120%.
That’s part of the reason why Pinterest is such an effective generator of referrals. Referred Pinterest users are 10% more likely to make a purchase and are likely to spend double the amount, in part because the site is focused entirely on photo sharing.
But rather than having to develop an entirely new profile on Pinterest, users can collect and share cool products right where their friends already hangout.
Beyond individual Facebook users, company pages are also able to create collections to build an online catalogue of all their products. The one difference is company collections are only viewable to their Facebook fans. If pages want more people collecting, resharing and clicking they’re going to need a well-developed fan base.
Customer referrals via social media rely on giving people an easy way to promote their favorite brands. With that in mind, Facebook now allows users to promote, like and share products right from a profile page, all while making the purchasing process as seamless as possible.
What eCommerce business doesn’t “Want” that?