If you take a look at how social media sites have evolved in the past few years, you’re going to see a pattern: they’ve all become places for companies to place their ads and initiate marketing efforts. It’s a billion dollar industry. After all, you always have to take your business to where the people are, and people are spending a great deal of time on social media. So what’s the next step? Bringing your marketplace directly into social media, of course. You can already set up a storefront on Facebook, but the interface is clunky and limited in its appearance; it’s just not an appealing place to shop for anything other than apps. Pinterest, with its cleaner design and focus on images, seems like the perfect place to put a “buy it now” button, and that’s exactly what they’re going to do.
In a recent update, Pinterest announced that it will be making it easier for people on iOS and Android (later) devices to link their Pinterest App to their credit card information. This “Buy Button” has a similar setup to an iTunes account, which allows you to buy music and videos directly. Business who have “Rich Pins” set up will then have the option of allowing customers to purchase items through the Pinterest App. As far as social media marketing goes, making it easier for people to instantly buy items of interest is a brilliant idea. It plays on the customer’s impulses; you can expect low-cost items to sell at greater volumes. If there’s anything I can compare it to, it would be the Micro-transaction* function from the gaming industry. The only difference is you get something tangible in return for your money.
*Micro-transactions are low-cost purchases in many free-to-play games that grant you access to limited items, extra play time in cases where the number of actions you take are limited per increment of time. These range from 99 cents to hundreds of dollars depending on the popularity of the game. These games are also called “Freemium” games. Personally, I despise this sort of practice and will not endorse any company or developer who employ this unethical tactic.