By Mae Anderson, Business Writer
NEW YORK (AP) --Facebook is testing a "Buy" button in its latest effort to help businesses boost their sales through the world's biggest online social network.
The company said in a statement Thursday that the button will let people buy products directly from businesses without leaving Facebook. A "Buy" button appears at the bottom of sponsored ads and is being tested by a limited group of several small- and medium-sized U.S. businesses.
The move comes as Facebook continues to grow its advertising business. The company will account for 7.8 percent of global digital ad spending this year, up from 5.8 percent in 2013, according to eMarketer. Google, the world's No. 1 recipient of ad dollars, is expected to account for 31.5 percent of ad spending in 2014.
EMarketer analyst Debra Aho said that not long ago, most businesses thought Facebook was better suited for building awareness than driving sales, but the Menlo Park, California-based company is trying hard to change that image.
"With this step, Facebook is becoming even more firmly established as a major player in direct response advertising, and though this test is still only a test, it's a definite sign that Facebook wants to restart its efforts to become an e-commerce company as well," she said.
Facebook says it won't share users' credit and debit card information with other advertisers. The company said it will provide more details once it has gathered feedback from the test.
In January, Facebook said in a blog posting that it was working on offering more ways for direct-response marketers to communicate with Facebook users.
Mobile advertising is one of Facebook's fastest-growing revenue categories. Nearly 80 percent of its users access the site on smartphones and other portable gadgets. In the January-March quarter, earnings nearly tripled and revenue grew sharply as advertising revenue rose 82 percent.
Meanwhile, mobile commerce is growing at a fast clip, and is expected to total $304.1 billion in 2014, up 15.5 percent from the prior year, according to eMarketer. Mobile commerce will account for 19 percent of all e-commerce sales this year, or $57.79 billion.
The Many Hires Jeremiah Wassom As Group Creative Director
Independent agency The Many has added Jeremiah Wassom as group creative director.
Wassom most recently worked a decade at Deutsch LA where, as SVP/creative director, he led the Taco Bell account and won new business for the agency. His agency past also includes AKQA and TBWAChiatDay. His creative work has touched the QSR, video games, automotive, fashion, and culture brand sectors. He also served eight years with the United States Marine Corps.
“Throughout his career, Jeremiah has helmed work that has not only made me personally jealous but has consistently pushed brands to show up in memorable and innovative ways,” said Josh Paialii, head of creative at The Many. “One look at his body of work and you will see his passion for storytelling and craft has raised the bar for entire categories, driving participation with many brands’ most loyal fans. Beyond being a world-class creative director and maker, Wassom is a proven team player and strategic thought leader. He’ll be a great addition to the leadership team at The Many working across all accounts. His role will be immediately felt as he guides and supports each of the creative leads in the department.”
A 20-year creative with agency, brand, and freelance experience, Wassom has forged a creative approach which focuses on crafting engaging connections rather than simply make ads. He sees the need for advertising to mean more, not simply do more.
The Many believes that true business growth is made possible by harnessing the power of participation and partners with brands to forge deeper connections with consumers, cultivate trust and loyalty, and maximize marketing spend and execution. The agency is built around a flexible model that offers a suite of capabilities, including... Read More