Twitter is looking to expand its revenue streams, with a new Buy button inside the microblogging site. This would allow users to buy products advertized right from Twitter, instead of clicking a link to a new webpage.
This is not the first social network to embrace internal product sales. Facebook is interested in this idea too, especially with mobile apps taking quite a while to move to a webpage, after a user clicks on an advert.
Twitter will allow all organizations to add their products inside the app, instead of providing a link. The Buy button has been in testing for a few months now, with only the top organizations being able to test out the feature on a few users.
The company will continue to add more organizations into the fold in the end of 2014 and the start of 2015, while they wait for the official release. Twitter has not given a solid date when the Buy button will be available for everyone, but the first three months is the early estimate.
Currently, Twitter’s only form of monetization is through featured tweets and hashtags, a rather weak way of gaining income, since the adverts tend to be too expensive for small businesses, and there is no localization available.
Hopefully, this new Buy button will bring more income in for Twitter, but the company definitely needs to look at ways to promote smaller and more local businesses, without the businesses spending a fortune on a potential low-return ad campaign.