Social networking site Twitter has appointed Nathan Hubbard as head of its newest division. The 38-year-old, a former Ticketmaster executive, has to make sure that tweets can easily result in a completed sale.
Shopping through tweets
Twitter is looking towards e-commerce as a possible new stream of income and in order to stimulate sales through the social network, it will introduce Twitter Product Cards. Instantly displaying the qualities and price of a product should decrease the step towards an actual sale.
This strategy is remarkably similar to what networking site Pinterest has recently done: Pinterest allows for detailed product information - like price, availability and possible purchase points - to be added to shared items.
New insights into purchase behaviour
Expanding the purchase possibilities gives Twitter more insight into its users’ interests and purchase behaviour, information which benefits Twitter’s website advertising, representing the bulk of its income at an estimated 583 million dollars (436 million euro) for 2013.
Hubbard stated he does not want to compete with e-tailers and payment services, but strives towards collaboration. In any case, an additional growth path suits Twitter just fine as it prepares an IPO (initial public offering) for the stock market.