Coining social commerce with a See, Like, Buy mechanism would have been a strategic no brainer for Facebook to grow its revenues. However it’s Twitter that is claiming social shopping.
Do you also see more and more photos of techy gadgets in your Twitter feed? Now you’ll be able to buy them in just a few clicks thanks to the recent deal between Twitter and payment start-up Stripe.
Twitter Coins Social Commerce
The new feature, backed by an appealing photo, clever copy and smart call-to-action could drive revenue growth for Twitter, since they will get a small kickback from each purchase. You could call it Twitter’s affiliate program, the Amazon way.
Smart strategic move if you’d ask me, because hybrid business models are more powerful in the long run than being addicted to advertising Dollars only. I hope that Twitter’s strategic choices are also wooing Madison Avenue.
But it was about time for Twitter, because Pinterest has overtaken Facebook already, when it comes to social commerce
In 2013 Twitter already partnered with AmEx so its cardholders could buy products with a tweet, and next bill it to their AmEx card.
How About Start-up Stripe?
Stripe is backed by $40 million in funding. It allows companies to accept payments on websites and mobile apps via its APIs. Next it allows ordering without having to set up an online account.
Stripe’s clients include the popular e-commerce platform Shopify with over 80.000 active stores and close to 63 million products sold.
Another pay-per-tweet start-up to watch is Chirpify. They are activating hashtags for instant marketing and commerce conversion.
I am shocked that Facebook is still incapable of coining social shopping. They are now being put to shame by Instagram, Pinterest and Twitter when it comes to social commerce.
Okay, you win some you lose some, you might be thinking right now? But Facebook seems to be infected with the Yahoo virus. Yahoo missed out on every social trend and is going to be the next Titanic.
Facebook is out of control for already a few years. Besides missing out on closing the loop for retailers with a simple See, Like, Buy proposition, they have also missed the trend called Social TV. If not, where the hell is Facebook TV today?
Privacy wise Facebook has missed every harbor available to refuel. And social search, Facebook could have coined it before Google and the afore mentioned social sites. It didn’t.
Meanwhile, more and more screenagers are leaving Facebook. They hate an environment in which their parents are able to “spy” on them.
Facebook has claimed mobile that was at least a smart move. But when it comes to business modeling, Facebook clearly lacks strategic brainpower.
Twitter is certainly wooing me with its clear strategic choices in Social TV and Social Commerce. I hope ” the experts” on Madison Avenue see the bigger picture as well.
What About You?
Which social site is going to impress us when it comes to social commerce and why? I’d love to hear your opinion.
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About the Author
Igor Beuker is an acclaimed trendwatcher & pro speaker, serial entrepreneur, marketing consultant and board member at several disruptive media, technology and entertainment firms. Book Igor as keynote speaker, follow Igor on Twitter or contact him via LinkedIn.
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