Twitter’s ‘Buy’ Button: What You Need To Know
After a year since the announcement of a “buy now” button hitting Twitter feeds everywhere, you can expect to see a lot more of it. The social media giant is expanding their services as a part of a strategic partnership with Demandware, Shopify, and Bigcommerce. These are three very popular commerce platforms, which means that merchants that use them to run their online shops (there are plenty) will now be able to list their products on twitter with a ’buy now’ call to action. This feature isn’t just going to benefit your run of the mill online shop owner– big retail brands have also signed up such as Best Buy and others.
While the buy now buttons will only affect the States for now, this is a big step ahead for the company in seeking to build a revenue stream outside of advertising, and it’s not too far off to think that it will hit worldwide in the near future. Twitter, which has for years been a platform for people to hear and talk about products, now establishes itself as a place to buy that product as well, without having to leave Twitter to do it.
In fact, this is Twitter’s admitted main goal of the buy now button. In a blog post, Twitter’s head of commerce Nathan Hubbard wrote “The goal for all our commerce initiatives on Twitter is simple: make it as easy as possible for businesses to connect directly with, and sell to, customers on Twitter. With Buy Now, businesses can drive more conversions and remove much of the friction in the mobile purchasing process.”
So far, Twitter has declined to release any data illustrating the effectiveness of its buy now button. That being said, it is revealing to learn that Twitter made $502 million in revenue last quarter, with $452 million of that coming from advertising. While it is still early for the feature, it is easy to see why big e-commerce platforms would want to expand the list of outlets by which merchants can integrate their services. While social media has proved in recent years to be the ideal channel for marketing a product– or complaining about it– it has yet to prove itself as an ideal place for buying a product.
“Social platforms are at the center of the democratization of retail. Partnering with Twitter and using the Demandware open APIs, Twitter Buy Now will give our retailers a new tool to engage with customers and drive purchases,” said Tom Ebling, chief executive officer at Demandware, in a statement.
Sources: Tech CrunchTags: buy button, Twitter, twitter buy button