Twitter for Social Commerce
Speculations suggest that Twitter is finally entering the world of social commerce. There have been some tepid efforts by the social channel in the past but this seems to be the first serious attempt at it.
Twitter plans to partner with Stripe, a payment processing service. This hush project is possibly being tested with certain select partners. An unexpected discovery by Re/code on fancy.com, an e-commerce retailer, revealed the storyboard of the experience.
These mock up images are by fancy.com and not Twitter. And while neither confirmed or denied the reports it is likely that Twitter will roll out this feature.
This new addition will probably be an ad product such as Promoted Commerce Tweet.
This looks to be an advertising product similar to FB offers. Although, FB Offer primarily deals with a coupon or a discount offer that is only available as a paid post and is not connected to consumers’ credit card information.
Brands that have an e-commerce presence will benefit from this ad product to reach consumers who may have Tweeted about the brand expressing interest and intent.
Once users sign up for credit card transaction Twitter could also possess this information on its users. And use it to let advertisers target consumers based on their past transaction.
This feature may also let brands offer a certain dollar amount off of a purchase that can be credited directly to consumers.
For instance, Twitter Commerce could enable CPG and beverage brands to include a CTA in the Tweet. For e,g. Get $5 off on your next @RedStripe beer with the Twitter Commerce button.
Clicking through the ‘Buy’ button would let users register their credit card within the Twitter app. Once user registers, the brand would be able to credit them with the offer at the time of purchase. This could tie online exposure to a Tweet to an actual offline purchase. And once a user completes the transaction offline, this data can be used to retarget for repeat purchases.
In some ways, this would be similar to AmEx Sync and Twitter partnership where users could Tweet a hashtag and receive a certain dollar amount off of their purchase credited to the AmEx card at retail. But this experience took users outside Twitter to AmEx Sync website.
Twitter Commerce would keep users within the Twitter app.
This could also easily be integrated in TV commercials with hashtag for sampling. For e.g. #SendMeOreo by Oreo during the Grammys allowed users to receive a link to sign up for Oreo samples. While this campaign used Chirpify that lined users to a landing page with Twitter Commerce it would be more seamless and contained within the app.
All this would however be anonymized to protect the user identity and privacy but it would allow brands to assign a measurable impact on their Twitter campaign.
As brands look to find ways to intersect consumers in their path to purchase this latest development could make it easier.