Don’t let the “Buy Button” become the Bye-Bye Button
Iain Devine, Commercial Director at Salmon, a Wunderman Commerce Company, discusses the new phenomenon of "Buy Buttons" and what they mean to the future of ecommerce. Below is an introduction to the piece highlighting some of the key points. You can read the full article published by CMO.com here.
Pinterest recently took one step closer to bridging the gap between “want” and “have” online with the release of Buyable Pins, a feature that allows consumers to purchase goods directly within the app.
Instagram announced three new action buttons too – Shop Now, Install Now, and Sign Up – allowing consumers to engage more directly with brands and giving advertisers greater control over audience targeting. These sales-oriented pins and buttons have serious implications for the future of ecommerce. Between Instagram’s 200m users and Pinterest’s 70m, retailers are seeing pound signs at the prospect of social selling.
Google is now upping the ante with the introduction of its Buy Buttons appearing alongside its search results. Companies will soon be able to pay to get the Buy Button in front of their listings, and the sponsored results will take the user to a Google-hosted purchase page where they fill in the details and make payment. Everything from product selection to payment is on Google’s own platform, eliminating the need to switch to any other platform.
These are only the latest developments in a search-and-discover landscape focused on new ways to monetise traffic for these social sites. However, retailers need to be aware of a trade-off between incremental sales and loss of control over customers ordering direct, particularly via Google’s Buy Buttons.
Small Buttons For Consumers, Big Impact For Retailers
The launch of instant purchase features by Instagram, Pinterest and Google reflects user's expectation to shop at the pace, time and location of their choosing.
The Opportunity For Retailers
The most obvious potential retailer benefits are a slicker user experience with improved conversion rates and sales--especially on mobile, where users are often unwilling to load their credit card details.
Considerations for Retailers
Retailers will need to consider the impact of a direct link from search to purchase on the relationship they have with their customers.