For those who haven't yet gotten wind of the new changes slated to occur on Facebook in the latter half of this year, the social media giant will soon be implementing new "social verbs" that will help both online consumers and retailers spread the word about their favorite products.
Among the first to be implemented are the much-buzzed-about "Want" and "Own" buttons that will soon be appearing on millions of news feeds across the globe. Using these new buttons, online users will be able to tell their Facebook friends which products they 'want' and which products they already 'own,' and would, presumably, recommend to their friends. The release of the buttons, so close to the holiday season, is anticipated to help shoppers purchase just the right gifts for friends and family members.
Facebook isn't the only company taking advantage of this type of word-of-mouth advertising. Wanttt.com has implemented a similar program over the past few months that includes over 230 different retailers, according to ClickZ News. Rather than appearing on Facebook, the "Want" buttons are integrated into the companies' respective websites. The vice president of sales, Greg Links, told the news source that those who indicate 'Wanting' an item are five times more likely to become purchasers than 'non-Wanters' and, on average, online orders from 'Wanters' are 25 percent larger than those of their counterparts.
Facebook is expecting even greater success, however some have noted that the new feature is really the same type of data collection that's been available to retailers who've implemented the "Like" and "Recommend" buttons in the past. However, the social media site has said that there are a few more verbs in store as well. Online users will soon be able to tell their friends what they're "Reading," "Watching" and "Listening" to. This will provide participating retailers with even more word-of-mouth advertising to help boost their brand visibility and convert more online consumers.
To maximize the effect, however, retailers need to be sure that consumers are aware of their goods and services in the first place.
Semcasting offers a solution that can also help to inform retailers of the purchasing power of prospective online customers with facebook microTargeting. This service helps merchants create predictive models of their current customer base so that they can target other online users with matching profiles. Facebook microTargeting can also help marketers ensure that their ads are placed on the right pages at the right time to target their prospective audience. By using this service, retail marketers can improve their outreach and achieve better results.
Ray Kingman : Oct 20, 2011 12:03:47 PM
