Sunday 25 September 2016

Friday5: Twitter’s New Buzz Word: “Buy”

You might not think of Twitter as a destination for online shopping, but the social media site is inching closer to that reality. After announcing in July that Twitter acquired CardSpring, a payment infrastructure provider, it dropped another huge clue that it will introduce shopping services. Several users have spotted a new “Payment and Shipping” option within the official Twitter Android app settings menu, where users would presumably manage their payment methods and enter a delivery address.

At this time, the purchasing capability isn’t available and it’s too early to tell what Twitter has up its sleeve, but if the “Payment and Shipping” option is here to stay, it could mean a lot for brands and e-commerce.

1. E-Commerce Continues to Trend Toward Social

This intersection of purchasing and digital media is an opportunity to revolutionize how consumers purchase products. If Twitter launches this capability, it’ll mean retailers can directly connect with consumers and track purchase habits through social posts.

2. Time Spent on Twitter

If this update comes to fruition it means users wouldn’t have to leave Twitter to purchase a product. Increased time on Twitter means more time to connect and influence consumer purchase habits without ever leaving Twitter.

3. Stronger Purchasing Habits

Brands and retailers would need to find a way to connect opportunities for commerce into the natural stream of social and mobile activity, rather than interrupting a user’s experience within the feed.

4. A Shift in Strategy

Brands would need to also shift their strategy in order to succeed in e-commerce. They will no longer take a traditional social media strategy to their social ecosystem. Brands would need to find a balance with their community between social content and social e-commerce.

5. E-commerce and Social Commerce

Brands and retailers on Twitter would need to remember that social commerce is different than social e-commerce. Shopping on Twitter would be much more engaging than a typical online shopping experience. Content would still be at the center but with an added emphasis on converting action to a purchase.

By introducing e-commerce options, Twitter would help bring in additional revenue streams and use commerce as a way to boost engagement among users. It’s not in full effect yet, but it may be happening in the near future so brands and businesses need to be thoughtful of their e-commerce approach and strategy.

How can your brand potentially utilize Twitter’s e-commerce option?

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