Buy Buttons have been heavily discussed during the last couple of months as major players such as Facebook, Pinterest and Instagram are going to implement those buttons and other advertising formats for internet retailers to monetize on eCommerce. But now as Twitter decided to curtail product development on its Buy Button and shifted its commerce team into other divisions within the company, first doubts are expressed. Andrew Meola, writer for Business Insider’s premium research service BI Intelligence, has even come up with the theory that Social Commerce is failing because most Social Media users aren’t very likely to click on a Buy Button. In our eyes, Andrew Meola’s article is typical for the discussion about Social Commerce that is insufficient and superficial in at least three aspects.
Notes from the editor
The first of June hasn’t been a good day for Number26. In fact, it has been one of the worst days in the still young history of the Berlin-based startup that was founded only three years ago, but is already seen as one of Germany’s leading players in financial technology (FinTech). The reason for Number26′ image loss is not necessarily the fact that the company has dismissed more than hundred of its customers, but that Number26 made at least five avoidable communication errors companies should avoid to communicate successfully.
Twitter is making headlines today. As Alex Kantrowitz, News Reporter at BuzzFeed, broke the story, that the company has most recently curtailed product development on its Buy Button and shifted its commerce team into other divisions within the company. What seems to be surprisingly at first, could have been foreseen: In fact, the Twitter Buy Button was doomed to fail, says our Founder and CEO Fabian Spielberger. Find out more about his view at medium.com.
Yesterday our German social commerce platform mydealz.de has launched the new version 4.0 of its iOS and Android app – not only for the mydealz team, but also for the mydealz community another big and long-awaited step: Within only 24 hours, the already 490,000 mydealz users have posted 2,000 mostly positive comments and downloaded the app far more than 10,000 times. As a result, the mydealz app is currently listed on rank number one of the official iTunes shopping charts, ahead of major players such as eBay, H&M and Zalando. The reasons for the success are various: On the one hand it has been a long-awaited update that fixes several bugs, on the other hand we have added features that seem to meet the pulse of time by strengthening the dialogue between consumers.
Reading online marketing magazines is currently a somehow strange experience: Publishing house representatives and online marketing professionals complain about the rapidly-growing usage of ad blockers. BILD, by far the widest-reaching German newspaper, and most recently Yahoo have even taken measures to exclude readers who use an ad blocker from its news portal (www.bild.de), respectively its free-mail service. Putting ourselves in the shoes of BILD’s publisher Axel Springer or Yahoo’s management, we understand this move at least partly — BILD and Yahoo generate most of their income through (display) advertising. But why are so many marketers ignoring their customer’s needs? It’s time to think about new, user-friendly types of advertising!
Social Commerce is currently one of the hottest trends in online marketing and eCommerce. The rise of Facebook, Twitter, Instagram, YouTube and Pinspire and other social networks have changed the way how customers are communicating with each other and interacting with brands. And not only the increasing demand for Ad Blockers shows that marketers need to develop new strategies to reach out to their target groups and convert them into (loyal) customers.