David Selinger honored for his contributions to the digital marketing industry
PHILADELPHIA (CBS) – Always on the lookout for new ways to make money, Facebook is trying something made popular by another social network.
Just as Pinterest lets you ‘pin’ items to your own web collection and you or your followers can click through to purchase the product, Facebook is testing a ‘want’ button.
Facebook is testing a new “Want” button for online retailers, similar to the social network’s widely used “Like”, which consumers can use to add product images to an online wishlist, in a style similar to the fast-growing photo-sharing site Pinterest.
The pilot, which will make it easier for people to buy the items shared by their friends, is the latest in a series of site improvements released by Facebook in recent weeks as it attempts to find new revenue streams and recapture investors’ interest. Last month, Facebook made its first move into ecommerce when it added the ability for friends to buy each other gifts, such as cupcakes and Starbucks vouchers, through the site.
How effective is Facebook as a marketing tool for retailers? It depends which study you believe.
According to RichRelevance, Facebook is dominant as a source of traffic for online retailers, and shoppers who enter retail sites via Facebook browse more pages and make more total purchases, but shoppers driven to those sites via Pinterest spend more money.
Facebook beats out Pinterest and Twitter for driving the most traffic to retail sites.
Facebook makes up for a staggering 86 percent of retail traffic, while Pinterest drives 12 percent and Twitter 3 percent, according to an infographic by commerce consultants Rich Relevance.
To be fair, Facebook has the most users of the three.
Still, it’s interesting to see Facebook driving so much social traffic, given recent doubts about whether its useful for retailers.
Enterprise software veteran and founding Baynote sales executive brings nearly 20 years of experience in strategic sales and leadership
When it comes to the land of retail more shoppers doesn’t necessarily mean better numbers for retailers. Having been involved in the retail sector for decades, I have come to realize that while foot traffic is very important, it’s really about the average ticket sale. RichRelevance’s latest study demonstrates that point. While Facebook may be winning the traffic battle, Pinterest is driving the highest average spending per online shopping session.
RichRelevance powers personalized shopping experiences for the world’s largest and most innovative retail brands, including Wal-Mart, Sears, Target and others. In a recent study, the company analyzed nearly 700 million shopping sessions to benchmark the performance of Facebook, Twitter and Pinterest as drivers of traffic to retail sites.
Why We Buy author Paco Underhill and RichRelevance founder David Selinger to host industry salon that illuminates the consumer trends and behavior that will define this year’s holiday shopping season