Tuesday, October 9, 2012

Facebook Inc (NASDAQ:FB): Users may soon be able to click `want’ on their favourite products

You know about the `Like' button on Facebook Inc(NASDAQ:FB), which allows you to give your approval to a friend's status update, post or photos.

Retailers, who are peddling their wares on the social networking site, have now come up with the idea of a `want' button.

This allows them, the retailers, to know how much their products are wanted by the users, or rather how popular they are and how much they want to purchase those products.

Facebook is testing out the new feature, which works in the same way that the `like' button does. So if you have a sweet tooth and see an ad for Dunkin Donuts, you can make your preference known with a `want' instead of a mere `like'.

It is right now in the experimental stage as the company is testing it out with a small set of seven retailers, which includes one that sells underwear.

"Today, we are beginning a small test in which a few select businesses will be able to share information about their products through a feature called Collections," Facebook said in a statement on Tuesday.

"Collections can be discovered in News Feed, and people will be able to engage with these collections and share things they are interested in with their friends. People can click through and buy these items off of Facebook."

The world's No. 1 social network, which recently crossed the mark of 1 billion users, is under pressure from marketers to get its users to translate their clicks into firm purchase decisions.

Facebook has to tread a fine line between allowing advertisers to display their products and users becoming overwhelmed with too much of advertisements which may put them off using the site.

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