Users will soon be able to buy products they like on Facebook.
Currently, the largest social media platform in the world has been carrying out a series of tests on new formats for ads. It wants to see it’s more than 1 billion active users buying products and services from businesses. This news is likely to help Facebook see a huge increase in its mobile advertising revenue, which currently stands at $2.9 billion and thisrepresents 76 percent of the entire ad revenue.
Great Platform for Commerce and Advertising
By adding the shopping features, Facebook expects to initiate a working combination of commerce and advertising. Almost 50 percent of all Facebook users are always searching for electronics, clothes and plenty of other items worth buying in their news feed. A few days ago, Facebook announced a new product that allows users to not only browse, but also purchase the products that interest them when using the app on the mobile devices.
The new feature requires traders to open a Facebook page where customers can go to and buy whatever they want. Normally, customers would be directed to the retailer’s website after clicking an ad on Facebook, and this would take too long to load. However, under the new arrangement, customers will be directed to a Facebook page where they can browse through whatever they need, thus eliminating the time they wasted in the past.
Faster Loading Time
Facebook pages do not take an eternity to load. The new page provides a detailed catalogue of everything that a retailer sells. It is only when the customer has identified what to buy and is ready to spend some money would he thenclick the appropriate button and be directed over to the retailer’s official website. This way, users have little opportunity to leave because a retailer’s website is taking forever to load.
Great for Retailers
Retailers are likely to find the new arrangement working to their favor. Unlike in the past, retailers will see a better conversion rate. Facebook also intends to develop a central hub on its platform where customers can buy products of their choice. Users will find a new section labeled “Shopping” under what Facebook calls the “Favorites” section, which is where they would normally be able to access their News Feed as well as Events.
Facebook is at the forefront of ensuring that e-commerce continues to thrive. Facebook is making it possible for buyers and sellers to transact. With this new feature, Facebook will see an upsurge in its mobile advertising revenue. The fact that Facebook will now have a “Buy” button is great news for advertisers and customers who want to make a purchase immediately to reduce the likelihood of forgetting after logging out of the site.