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It’s very well known that often, the fewer steps in a conversion funnel, the more likely a user is to convert. More social platforms are adding functionality to address this; Pinterest’s Buyable Pin feature is the splashiest recent example despite its limited scope. But Facebook, never one to be overshadowed easily, is making quieter yet potentially more powerful moves of its own.
A few weeks ago, Facebook quietly started rolling out its own Buy button to a limited number of businesses running ads on its platform. Now, the button is available to all advertisers running with Shopify. This is the first step before Facebook opens up the buy button to more users.
The button itself looks like a standard CTA button, common on link posts. What’s different about this one, though, is that when users click on the buy button, they are able to begin the checkout process without leaving Facebook. If the user has payment information stored within Facebook, the whole process can be done without leaving Facebook.
For the user, that’s not a whole lot different than the Pinterest Buyable Pins, but there’s a world of difference for advertisers: namely, Facebook’s more robust data collection and reporting. Neither Pinterest nor Facebook’s buy buttons will result in any data from a brand’s website, since all actions happen in a self-contained platform. But Facebook is way ahead of Pinterest in getting advertisers actionable data to help with optimizations — even if those optimizations are limited to what happens on Facebook, the targeting nuances alone represent a huge differentiator.