Facebook Co-Founder and CEO Mark Zuckerberg said during the company’s second-quarter earnings call Wednesday that when it comes to payments, the social network considers itself a partner to existing players, and not a competitor.
Facebook Chief Operating Officer Sheryl Sandberg emphasized while discussing the social network’s recently announced test of a buy button during its second-quarter earnings call Wednesday that the aim is to streamline the transaction process for sellers, and not for Facebook to become a seller.
Last week, Facebook announced that it is testing a new buy button feature, enabling businesses to sell products directly on the social network. The button — available on desktop and mobile ads and page posts — is currently limited to a few small and midsized businesses in the U.S.
Facebook continued to dominate social logins in the second quarter of 2014, accounting for 55 percent of overall social logins and 64 percent of social logins from mobile devices, according to the latest figures from Preferred Marketing Developer and consumer-management provider Gigya.
When it came to boosting its customer base during the holiday shopping season, apparel retailer Banana Republic didn’t monkey around, using Facebook’s lookalike audiences to achieve a return on ad spend that was four times higher than via other advertising channels.
Former Facebook Vice President of Global Operations Colm Long led a $650,000 seed funding round for PropelAd, which provides digital advertising automation for small and midsized businesses, and Tribal.vc and Enterprise Ireland also took part.
It’s hard to come up with a more obvious call to action than “buy,” and Facebook announced Thursday that it is testing a buy call-to-action button with “a few small and midsized businesses in the U.S.”
Facebook is beefing up its custom audiences ad-targeting options, adding multi-product ads, which allow brands to feature three products within a single ad unit, as well as enhancements to custom audiences for websites.
Social commerce solutions provider Easy Social Shop is trying to live up to the first word in its name with Wednesday’s announcement of a feature allowing merchants to create Facebook stores from pre-existing online stores with one click.