Reporting Ian Bush
By Technology Editor Ian Bush
PHILADELPHIA (CBS) - Always on the lookout for new ways to make money, Facebook is trying something made popular by another social network.
Just as Pinterest lets you ‘pin’ items to your own web collection and you or your followers can click through to purchase the product, Facebook is testing a ‘want’ button.
It’s all about knowing why a person is clicking.
“If you know why your customer has arrived at your site and what they’re trying to accomplish, you can present them with the content, offers, and products that can best meet that need,” says Darren Vengroff, chief scientist at the e-commerce firm RichRelevance
The ‘like’ button is just too general, says Vengroff, and the numbers speak to that.
“Among those who do make purchases, Pinterest by far drives the larger purchases; an average order value of $168 versus just under $95 for Facebook and $71 for Twitter,” says Vengroff, even though nearly nine out of every 10 clicks to shopping sites from social media come from Facebook.