Think about it: would you ever consider Facebook and retail to go hand-in-hand? To many, it doesn't seem like the likeliest of prospects, seeing as how social media is rooted in the digital front while something like retail is more traditional by comparison. However, it seems like these two concepts are about to meet, if recent reports are to be believed. It's an interesting concept and it is one that I am sure will have the attention of various entities, Robert Jain Credit Suisse included.
Wired put up a report that talked about Facebook and how it was testing out a "Buy" button on the website. In essence, it will allow users to buy goods and services via ads on news feeds but here's the good part: you do not have to leave Facebook to go about this. You aren't forced to click around various websites in order to go about this particular endeavor. It's a great move, on the part of Facebook, since it seems like anyone can make use of it regardless of their experience on Facebook or the Internet overall.
From what I have seen, this move on Facebook is similar to what other companies have done. Many large businesses have gone on to become online retailers - Google is one of the more prominent examples - so it wouldn't be out of the question to say that Facebook could follow suit. In fact, given the tremendous amount of engagement on Facebook, in general, it's fair to assume that success can be attained. It's just a matter of which services can benefit from this new implementation.
There are ways for this to be successful, as I am sure names such as Jain will be able to attest to. One of the ways for this to be approached is for Facebook to be true to itself; it cannot copy off of other businesses. Similar utilities may be put to use but the truth of the matter is that this project needs to be separate in order to stand out. Only then can it be successful for Facebook and Robert Jain Credit Suisse will not say differently on the matter.
It's clear that Facebook is looking to enter the world of retail like businesses have done in the past. Will Facebook be successful in this way? It's hard to say, especially when there are a number of variables to take into consideration. I believe that this project can help Facebook's reach and increase the level of user engagement in the short term. Only with proper planning, though, can this be more of a long term benefit for arguably the most popular social network.
Wired put up a report that talked about Facebook and how it was testing out a "Buy" button on the website. In essence, it will allow users to buy goods and services via ads on news feeds but here's the good part: you do not have to leave Facebook to go about this. You aren't forced to click around various websites in order to go about this particular endeavor. It's a great move, on the part of Facebook, since it seems like anyone can make use of it regardless of their experience on Facebook or the Internet overall.
From what I have seen, this move on Facebook is similar to what other companies have done. Many large businesses have gone on to become online retailers - Google is one of the more prominent examples - so it wouldn't be out of the question to say that Facebook could follow suit. In fact, given the tremendous amount of engagement on Facebook, in general, it's fair to assume that success can be attained. It's just a matter of which services can benefit from this new implementation.
There are ways for this to be successful, as I am sure names such as Jain will be able to attest to. One of the ways for this to be approached is for Facebook to be true to itself; it cannot copy off of other businesses. Similar utilities may be put to use but the truth of the matter is that this project needs to be separate in order to stand out. Only then can it be successful for Facebook and Robert Jain Credit Suisse will not say differently on the matter.
It's clear that Facebook is looking to enter the world of retail like businesses have done in the past. Will Facebook be successful in this way? It's hard to say, especially when there are a number of variables to take into consideration. I believe that this project can help Facebook's reach and increase the level of user engagement in the short term. Only with proper planning, though, can this be more of a long term benefit for arguably the most popular social network.
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