It’s no secret that we live in a world of over-sharing. From pinning our next bedroom set on Pinterest to declaring our devotion to Obama on Twitter, it seems that almost everyone is ready and willing to share their desires and opinions through various social media outlets.
Facebook, with 900+ million monthly users, is already the largest outlet for people to share their lives by posting photos, writing statuses, and sharing news articles. Soon, Facebook users may be able to also share a wealth of desires with a new “want” button.
With this button, Facebook users will be able to “want” a product, business, and campaign, and, if they choose, have their desire show up on their newsfeed and timeline.
Besides making holiday shopping a lot easier, a “want” button has huge monetizing potential for advertisers and PR campaigns. With Facebook keeping mum on the issue, no one really knows what a “want” button could mean for businesses, but a little speculating never hurt. Here are a few ways we think businesses could use a “want” button for social media success.
Opportunity for data
One of the biggest benefits businesses may see from the “want” button is the amount of data they can collect about users who “want” their products. This collection of data can help advertisers and businesses directly target people who may actually be inclined to purchase—saving money on advertising campaigns and time for users.
While consumer brands were early adopters of Facebook, some business-to-business companies have hesitated. The “want” button could help them engage more with their customers, especially when offering the right social content.
Plus, a “want” button would enable businesses to showcase their product where many people are already spending the majority of their time—Facebook. Pinterest has already proven to be a valuable source of e-commerce; multiple reports reveal that Pinterest users actually spend double the amount on e-commerce than Facebook users. With a broader range of users, a “want” button could catapult Facebook to an e-commerce star.
Mixing work and pleasure
While Facebook began as a social experience for college students, it’s evolved into much more as users have begun to connect through Facebook for work relationships, activism, and recommendations. The first place many people turn for advice on a certain product is Facebook or Twitter.
B2B companies can capitalize on this by creating a strong Facebook presence and, in turn, encouraging chatter about their product on Facebook. If a user sees a list of “wants” from his respected former colleague, he may be more apt to purchase than if he saw the product from a random advertisement.