The social network giant is trying out a new option to help its advertisers to increase their sales.
Facebook has revealed that it is testing a new form of social media marketing on its platform, which includes an actual “Buy” button, which is designed to help businesses advertising over the network to be able to boost the sales that they are achieving from their efforts.
This new feature will give members of the service the chance to buy products directly through the ads.
The “Buy” button can be clicked in the social media marketing ads on Facebook so that consumers will be able to purchase a product that they like without ever having to leave the website. The button will appear at the bottom of certain sponsored ads. At the moment, the option is only in a test mode and is limited to a group of specific medium sized and small sized businesses in the United States.
This is the latest move taken by Facebook to try to grow its social media marketing business.
The company will make up a predicted 7.8 percent of the overall digital ad spending by the close of 2014. This will have been a meaningful increase over the social network’s share of that market in 2013, at which point it held 5.8 percent of the spending. This, according to the data released by eMarketer. Comparatively, Google, which is the holder of the largest global share of ad dollars, is predicted to receive 31.5 percent of the total amount of ad spending, this year.
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According to a statement released by Facebook, the new “Buy” button provides the opportunity for ads to be directly linked to sales and for consumers to be able to purchase without having to actually exit the Facebook website. They can remain on the site and signed in, while still buying the things that they want and that they have seen in the ads, there.
According to Debra Aho, an analyst from eMarketer, it wasn’t all that long ago that companies had been viewing Facebook as a social media marketing strategy more for growing awareness as opposed to actually generating sales. That said, the social network is now making some very powerful moves in an attempt to alter this perception and to make it possible to directly link it to shopping.