Social Thinking: Social Networks Are Boosting Ecommerce Initiatives

While social media was once only used to connect with others and build relationships, social networks like Facebook and Twitter are integrating social commerce to empower the way in which users are utilizing these services.

Retailers now understand the importance of social media. It’s not only for brand awareness, photo sharing, and connecting with consumers, but also a way to captivate consumers and drive sales. Social commerce will determine how consumers shop, what their interests are, and what they buy.

Since July, Facebook has been experimenting with the buy button for purchasing goods without leaving the site or app. Facebook allows users to keep their credit card information on file in their profiles and enables “autofill” to automatically purchase products with a one click checkout.

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GLIDEsf is testing the Twitter buy button

For example, a leading retailer could post a new collection on their Facebook page and instead of redirecting the customer to the retailer’s website, they could just make the purchase by simply clicking the buy button.

Similarly, Twitter integrated a buy button so consumers can quickly make a purchase directly from tweets. According to Twitter’s blog, “sellers will gain a new way to turn the direct relationship they build with their followers into sales.”

Sounds like a solid deal for retailers. Since Twitter is also still experimenting with the buy button, users don’t have the option to store their credit card information on file. Instead, they need to go through the entire checkout process. Both social networking sites are partnering with e-payment company Stripe to boost ecommerce initiatives and turn their experiments into a real social commerce-shopping trend.

As for retailers, social commerce can be a huge benefit to their business. Social commerce integration will get consumers thinking about what the company is doing, how they’re selling, and how it will benefit consumers. The whole point behind shopping on social networking sites is to create fast and convenient services for users. Even though retailers and social sites are pushing to change the face of online shopping and mobile shopping, it’s up to consumers to decide whether this trend will keep moving.

 

What are your thoughts on the buy button? Tweet us @Skava

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