As you may have or may not have noticed, buy buttons have invaded the Internet. Over the last year, many of the most popular social media companies have found ways to add commercial uses to their social platforms. Pinterest, Twitter, Facebook and YouTube have all added buy buttons to their websites and mobile apps. Their hope is that people will begin using their social platforms for purchasing products directly.
A new frontier is emerging, where business is integrated with social media . As a result brands and retailers will need new strategies to reach consumers in this evolving marketplace. For brands that can see the opportunity and merge their social media platforms with commercial use, buy buttons could be the first step to getting ahead of the competition.
So, why exactly do buy buttons have so much potential? The reason is because of an explosively growing ecommerce. Over the last year, the global ecommerce has increased by over 17 percent, and is intended to skyrocket over the next few years. By 2017, ecommerce is expected to be at over $370 billion per year in revenue; it was only $220 billion in 2014.
One significant benefit about buy buttons is the vast amount of data provided by them is easily analyzed to determine the buttons effectiveness and give data driven results. This will change the way marketers and advertisers assess the effectiveness of social media marketing. Spreadsheets can finally have dollar amounts in the “ROI” columns.
After more than six months since Pinterest first added buyable pins, reports have started to prove the effectiveness of these buttons. Early success for Pinterest has lead to an expanding number of products with buyable pins. With ecommerce becoming an exceedingly bigger market, brands who can benefit from using buy buttons on social media to sell products would be foolish not to.
So, why should your brand be using buy buttons? Because if you aren’t, you’re missing the opportunity to have your products reach your target audience directly.