Is Facebook preparing a 'want' button?
The company is reportedly experimenting with the new feature, which would help juice its ad sales and e-commerce partnerships.
A "want" button, as simple as it seems, opens up new consumer and retailing possibilities for Facebook. If you "want" some sandals from Zappos, for example, your friends may see it and check them out. Facebook would immediately fire up its ad business and get new interest from retail partners.
The company may not stop there. Waddington says he has found hidden code allowing people to share their purchases or information about their donations to charities. "In the same way music, news and videos are shared on the site, Facebook is planning to allow users to share both Wants and Purchases, from items bought within games to donations," he told Mashable.
Facebook needs all the ad help it can get. A recent study by search engine marketing company WordStream found that Google ads get almost 10 times more click-throughs than the typical Facebook ad. The average click-through rate of an ad on Google's display network is 0.4%, according to WordStream. The average rate for Facebook is less than 0.05%.
That low rate is likely one of the reasons General Motors (GM) decided in May to stop being a paid Facebook advertiser. GM is reportedly in talks with Facebook to resume advertising, however.
The "want" button emerges as Facebook tests moves to generate more revenue. Its user growth is flattening in developed countries -- emerging-market growth is strong, however -- and the company is trying to wring more revenue from its existing base.
Some of Facebook's moves are suspect, such as the rumored plan to allow kids under age 13 to join. Other moves are just silly, such as asking users to pay to give their status updates more prominence.
The company is clearly desperate for more money, but at what point does it disrupt its initial mission of social community and sharing? The company is already walking a fine line between online hangout and online flea market, and too many commercial changes may alienate users.
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Proof positive that the original concept of connectting with people has been surpassed by a profit & loss statement.
It's a marketer's dream button. What? You 'want' this particular brand of car ... we'll sell your information directly to that manufacturer so you can be peppered by ads from them. And since we know you 'want' a vehicle, we'll sell your information to the other car manufacturers so they can overwhelm you with ads from their selection on the off chance you change your mind.
When facebook went public it automatically changed its direction. Blame the SEC for forcing them to be a public company once they hit 500 shareholders.
My God - what is required to put moments of your existence into this type of activity, this sort of web site? I mean, other that the obvious mental deficiencies?
Is it too late to nominate P.T. Barnum for a posthumous Nobel Prize in Economics?
Some corrupt empires will do ANYTHING to build up more greed into the already greedy, gluttonous humanity that it has been forced to evolve into.
They do it for a thing called 'A Buck;' and they try to steal them from you.
*Rolls my eyes and sighs*
*Claps my hands and says, "WAKE UP!"*
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The company has made at least 4 acquisitions in the space, and few people have paid any attention.
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