The online rumour mill is in full flow, with a number of websites reporting that Facebook is developing a ‘want’ button, which will allow users to create a virtual wish list.

The button will potentially give users the option to ‘want’ a brand or product, also allowing people in their network to see what they want to purchase.

For businesses on Facebook this brings with it huge potential. Instead of a user just liking a brand’s page, they will be able to connect with individual products. Businesses on Pinterest have seen huge increases in ecommerce sales figures after uploading images of products, with product details and prices attached to it. Could this work in a similar way on Facebook?

Facebook is all about building relationships and allowing users to connect even further with a brand and their products can only be a good thing. In ‘wanting’ a product, businesses will also be able to collect important data about their audience, meaning advertising and marketing can be more effectively targeted in the future.

We think it’s a great idea, what do you think? Do you want the ‘want’ button?