Facebook Is Making A Significant New Change That Will Impact Your Business
Facebook announced it is adding Shops which is a top-level shopping experience in connection with Shopify, BigCommerce, and Woo. The social media giant is attempting to become the Amazon of on-line shopping on both its platform as well as Instagram – which Facebook also owns.
CEO Mark Zuckerberg said extended internet business is essential to start revamping the economy while the pandemic proceeds. In a live stream he said, “In the event that you can’t truly open your store or café, you can, in any case, take orders on the web…”. Zuckerberg went on to say that many organizations that were never selling on-line have transitioned to on-line businesses.
Shops makes business sense. It comes at the time when stay-at-home orders are in effect due to the COVID-19 pandemic. The virus has caused many traditional brick and mortar and in-person service and retail businesses to move to the internet as their primary way of doing business.
Pay Attention …
Over 33% of businesses say they have quit working in a review conducted by Facebook and the Small Business Roundtable. Many say their businesses might go bankrupt if they do not reopen soon.
In the meantime, online platforms like Etsy are thriving. Etsy has been selling arts, crafts, and other items for years. During the pandemic, people have turned to Etsy to sell and to buy everything from baked goods, homemade facemasks, nail polish, and more. Etsy reports massive income growth since the pandemic.
Facebook is seizing the opportunity to bring off-line businesses online through its platform by providing Shops.
Shops will give these businesses the opportunity to make sales through Facebook instead of driving traffic to a website or setting up a shop on an outside platform like Etsy. With shops, buyers can checkout directly on Facebook as well.
In the past, if you wanted to sell online you would find a platform like Etsy, Amazon, your own website, or online store. Shops now integrates social media with a buying experience. Any business can quickly be on-line and open and ready for business through Facebook and Instagram with Shops.
Currently, there are over 160 million private companies utilizing Facebook’s applications. Shops is connected to a user’s Facebook page and/or Instagram profile. Shops will also show up on Instagram and Facebook stories as well as in ads on both platforms.
Why Is This News Important For Your Business?
As a business owner, you can decide if you want to let a buyer purchase directly on the social media platform. If you, you give a percentage of sales to the platform. Or you can bring the buyer to your own website to take the order.
Since Facebook also owns WhatsApp and has Messenger and direct messages on Instagram the buying experience can be seamless. Customer service can be provided this way as well.
Back in 2016 Facebook made an attempt to do something along the lines of Shops. This was called Marketplace. Then later Instagram started a shopping application which they quickly let go. About a year ago, Instagram included an application for checkout where people could purchase directly.
Facebook will begin the Shops concept in the United States and roll-out has already begun. They will next launch on Instagram. Facebook says they will have a shopping tab added to both platforms.
How Can You Use And Apply This Information To Your Business?
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