It seems to be Facebook bashing season – and they do make for a juicy target – but we think the criticism levelled at their social commerce experiments is unfair.
We all got carried away with F-commerce 1.0 and it fell flat for most of us, but of course selling in the same way we’d sell on Amazon doesn’t work on a social network.
In recent months, we’ve seen experiments with the Facebook Collect button and the gradual role-out of the Facebook Want button. They may not nail it first time, but I love the fact that Facebook are trying this stuff.
We all know that, today, we use Facebook in a very different way to the way we use Google. With Google, it’s all about purchase intent. Advertising works well in Google because I’m already in a mindset to shop.
When I use Facebook, I want to be engaged and entertained. I don’t arrive there wanting to shop – and that’s where Facebook’s experiments come in. They want to get us thinking about shopping.
Get me in that mindset to shop, by letting me tell and show my friends what I want, and Facebook’s advertising offer will be that much more effective.
And our stats show that companies who empower their Facebook community in this way are achieving really good conversion rates – 50% of co-buyers are coming back every single day, and up to 40% of them are entering co-buys when they do.
So, Facebook and e-commerce do mix. Just don’t forget Empowerment, Entertainment and Engagement.