It’s a way to instantly monetize their followers. – Chris Teso, CEO Chirpify
Twitter may solve social commerce before Facebook.
What frustrates me is why Facebook and Twitter are both so hesitant to build their own native commerce solutions. That’s potentially millions and maybe billions of dollars in additional revenue.
Four years ago people complained about the convergence of the mp3 player, camera, and email all into one device. Everything in one is now a preference.
The bigger challenge for social commerce is just making it super easy for fans and followers to check out. Facebook already has credit cards on file. 13% of its 3+ billion revenue last year came from those Zynga credits. Why can’t we buy other goods with Facebook credits?
Similarly contradictory is Twitter’s behavior. If Jack Dorsey so easily commits to censorship why doesn’t expand into social commerce. He could have his Square team work on a Twitter payment solution.
I’m not sure what the wait is about. Both platform have scale. Now it’s time to monetize.