New ‘Want’ and ‘Own’ Buttons on Facebook Commerce Player Increase Sales

The Facebook-only e-commerce player (Payvment Shopping Mall) has seen customers rise more than double from 500,000 to 1.1 million. This has been achieved by not having to buy an ad space on Facebook says Payvment CEO Christian Taylor. What the want and own buttons do is spread the word about certain products that you choose to share, enhancing social media marketing. When you or your friends tap these buttons, those products appear on people’s news feed, allowing your friends to see what others are looking at and are interested in. The like button has always been in place for every product from the 150,000 sellers on Payvment but has never been very effective.

After some research the marketing service firm Baynote found out that during the holiday season the majority of consumers did not buy gifts off of Facebook’s brand pages.  With the new action verbs on Facebook retailers are hoping that this will encourage consumers to share more and become more active when shopping. There will be even more action verbs such as, share, heart, bought, want, and wish where you will see what your friends think about many new products and gifts they want. A chance for affiliate marketing can also be in the future of these new buttons.

Action Verbs transforming Facebook ads

How will these new tools affect ads on Facebook? It will definitely make reaching hard to find demographics a lot easier, while friends see what their other friends are looking at. A Facebook spokesperson states that, “while social apps open possibilities for these new kinds of connections and expressions, these stories cannot currently be sponsored”. Even though it will take time for people to really start using these new action words, they could  prove to be a great advertising tool. Once they gain popularity, these Facebook apps are intended to advertise products, music, and events based on all your interests. It will be interesting to see the reaction to these apps on Facebook.

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