Facebook is trying to introduce innovative features as well as boost its income at the same time. The company has introduced the Collections feature on a test basis in a bid to bring together buyers and sellers by allowing members to select, tag, share, and sell products through their website.
Select Facebook members will now be able to share data about specific products by this new feature known as Collections just as interested members share information on any social networking website. In addition, potential buyers will be able to view the displayed information on various products, share it with other members and even make purchases through Facebook.
Sellers will be able to interact with potential customers, offer related products that match their requirements, and sell them through this social networking site. The Collections feature is available through the News Feed section. The Collections feature has several buttons such as the Want button to add a specific product. Members will be able to tag specific products as well as group products together in the Wishlist collections. The Collect button saves the chosen products into the Products Wishlist that is then displayed only to chosen friends.
Facebook will be able to boost its income by potentially levying charges on each sale. The Collections feature could well add all the characteristics of an online shopping website to Facebook thanks to its ready customer base. This targeted marketing feature could certainly help buyers and sellers to come together while attracting new members into its fold provided the trial project is a resounding success.
The company has battled financial woes in recent past after a lukewarm response to its public offering. In addition to pleasing its members, Facebook will need to impress investors and the stock market with the new Collections feature so as to raise the company’s stock prices. On the whole, the Collections feature does seem to be a step in the right direction as Facebook tries to exploit its rich database while bringing together buyers and sellers at the same time.