Twitter is also betting on ecommerce

The company's growth strategy is based on organic tweets to sell products and thus involve creators more

(Photo Illustration by Omar Marques / SOPA Images / LightRocket via Getty Images) that users do a lot of searches on Twitter before buying something ”and so the 280-character social network could host more ecommerce features in the future. This was explained by the chief financial officer, Ned Segal, while the platform continues to develop new types of direct response ads. "You should be able to click and buy something on Twitter," he explained during a conference organized by the Jp Morgan merchant bank. The company has realized that users seek the opinion of experts between one tweet and another, in terms of shoes or smartphones and so now it is willing to exploit this drive or leverage the interest generated by large media and spectacular events. , to enable impulse purchases in real time.

Already in March the company had experimented with new types of tweets that included large "shop" buttons, which allowed links to product pages on Shopify, with a new card format capable of including the name of the product, that of the online store and the price. The new feature, expected to be "organic" according to what TechCrunch anticipated at the time, could be activated along with another series of innovations intended to involve creators more on Twitter, which recently announced plans for a "Super Follow" subscription. The goal would be to help them monetize, bridging that gap on social media identified by a player like Patreon.

On the road to reaching 315 million active users, a target set for the fourth quarter of 2023 with a compound growth of 20% per year from the end of 2019 (152 million active users), Twitter plans to introduce paid subscriptions , $ 4.99 per month, to allow users to receive exclusive content, discounts, newsletters and other subscriber benefits. On the other hand, creators would have the ability to set a paywall on certain media, such as chats on Spaces or fleets. There was no timeline indicated for these updates, but they were hinted at with tweets and screenshots. In the latest investor report, published to the SEC, Twitter's stated financial goal is to "at least double the annual turnover from 3.7 billion in 2020 to 7.5 billion or more in 2023".


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Topics

Ecommerce Social media Social Networks Twitter globalData .fldTopic = "Ecommerce, Social media, Social Network, Twitter"

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