When it comes to apps and taking action, Facebook is not sitting back and watching the competition pass them by. Instead, they are moving to the forefront and rolling out new features that improve the user experience amongst a variety of groups – including online stores.

In the past, Facebook users were able to “like” something of interest to them. While this feature is still very popular, users can now take other action including ‘want’ and ‘own.’ As you learn more about these buttons, you will find that they are more “commercially” significant to Facebook. In short, both buttons can be closely linked to the company’s advertising revenue.

What are these Buttons?

When a user clicks on either button, it prompts Facebook to update lists related to the term.

  • The want button is more or less a wish list that users can share through the Facebook platform.
  • The own button allows a user to show what they already own, acting as a digital catalog of sorts.

 

It does not take a genius to realize that these buttons have a direct link to shopping, not simply want people are talking about via the internet. Instead, it shows what people have paid for in the past as well as what they are interested in buying in the future.

Likeness to Amazon?

On the surface, it appears that these buttons are quite similar to Amazon’s Wishlist. However, there is one very big difference: the new Facebook features are meant to be “social.” These were added with the idea that users can easily share information with other people. Unlike Amazon, the goal is not for users to solely build lists of items they are interested in buying. It touches on this, but the real focus is on helping people find others who have the same interests.

Payvment Case Study

Since the inception of this feature, Payvment is one of the many companies taking full advantage. For several months, they have been using want and own buttons to increase sales and better engage customers.

The results have been astonishing. Since implementing the buttons in November 2011, Payvment’s Shopping Mall has experienced customer growth from 500,000 to more than 1 million. Best yet, they never spent a single dime on advertising.

What are your thoughts on Facebook’s new buttons? Do you plan on using them to increase sales and engagement in the future?