What Shoppers “Want” on Facebook May Be Great for Businesses

Facebook's Want may be good for marketers. Above Promotions Company. Tampa, FL. 2012
Facebook's Want may be good for marketers. Above Promotions Company. Tampa, FL. 2012
Facebook’s Want may be good for marketers. Above Promotions Company. Tampa, FL. 2012

Since Facebook has gone “public” by trading on Wall Street, a few strategies have been released in an attempt to generate revenue and prove to investors the social media giant has a strong financial plan. Even with the recent changes, more are on the horizon for those who want to leverage Facebook’s reach to market to potential customers. However, in spite of the various complaints from businesses to pay have their content seen by paying for promoted posts, this newly announced change may be one they “like”.

According to Reuters, Facebook is working with a variety of retailers to test a wish (collections) list for its users. This wish list will be generated through a “want” button. The social media giant had released information recently on the ability to go beyond the “Happy birthday” or “Congratulations” messages to friends and family members by purchasing items through its “gifts” feature. With this “want” button, users can either choose to guess what to give a “friend” through the gifts application or they can simply go to the friend’s wish list and purchase what their friends really want.

As a marketing professional or business owner, the “want” feature with Facebook, may actually help to organize users’ real interests for a higher chance of actually taking action on what they encounter online. It can only be hoped at this point that businesses, through analytics, will be able to find how many people have listed their items into their “want” list. As it stands now, too many businesses rely on and encourage the “like” to attempt to obtain some sort of count of product interest. Truth be told many push the like button and do not have a product or service people have a genuine interest in purchasing.

News of this want button may possibly be what we have been looking for on Facebook. A new look into customers’ interests, buying habits and influence with their peers. Of course, we can expect certain businesses to now beg people to add products to their “want” list, but this may be where consumers draw the line on responding to pressure to support businesses through empathy.

For now the report states that Victoria Secret, Pottery Barn, Neiman Marcus, Michael Kors, Smith Optics, Wayfair and Fab.com are among the first few retailers to test this wish list.

You have to wonder. With Victoria Secret being one of the tested retailers, do you think more men will purchase lingerie quickly or more on the fly? Will women be okay with having their clothing size available for ALL of their “friends” to see??? Hmm. Will need to keep a closer eye on this “want” feature to see what information is private or what is public.

This is definitely a feature Pinterest should keep an eye on.

What are your thoughts on the upcoming “want” feature?

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Above Promotions is a full service publicity, marketing and promotions company, founded with the purpose to serve an array of clients that are looking to expand their presence in the marketplace. From a local to international market, Above Promotions Company can provide the exposure that goes above your expectations. Visit http://www.abovepromotions.com today.

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Ebony T. Grimsley is the Creative Director and Owner of Above Promotions Company. She is also the recent author of “Because You’re Small: Effective Marketing Strategies for Immediate Implementation.” To find out more information on the book, please visit http://www.abovepromotions.com or purchase online at Amazon, Booktango and other online bookstores.

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8 thoughts on “What Shoppers “Want” on Facebook May Be Great for Businesses

  1. Again you bring up another very timely topic Ebony. As much as I would like to think the “want” button will help businesses interested in branding and expanding, Facebook is gearing it’s attention toward the “paying brand” at the expense of all the small business users by demolishing the analytics of the “free” business page concept that so many small businesses have put their efforts into.
    Facebook has drastically reduced the “views” of so many of the small business pages as we are seeing more and more in discussions around the tech news scene. I have heard from a variety of local small businesses they noticed quite a slash in reach, people talking about and likes due to these changes.
    What was once touted and defended as a “free” social media tool of great proportion seems to be gearing itself toward corporate branded business and reduced the concept and functionality of small businesses’ ability to have some equal ground.
    I believe in progress and development of good social media structure but not at the cost of the core small business supporters who have put so much effort into their pages.
    Do we need a “want” button? I’m not sure. Will it benefit anybody but large retailers? I think that it will be an answer that will be at great cost to Facebook as small businesses further develop their other free social media options.
    Brenda Ellison-MyInfoSnap

  2. Thank you so much for reading and such a thorough comment. We can definitely expect that in business, there is no way around having to spend money for good leads. Word of mouth is great, but isn’t the only way for a business to succeed. We were all so excited that Social Media gave us a good way to tap into word of mouth, however, it has become another advertising avenue where word of mouth can possibly occur.

    In the end each business has to discover the right mix for them. Some businesses use social media to keep people updated, yet it’s not where the majority of their leads are derived.

    Let’s just say the social media bubble has officially burst.

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