Twitter’s shares jumped over 20% on news that the social media company returned to revenue growth after reporting its first-ever profitable quarter.

The company’s performance in the last three months of 2017 brings a positive end to an otherwise difficult year. The company instituted a number of changes aimed at making it more competitive with regards to advertising.

The company, which has long trailed being Google and Facebook in terms of building a userbase and advertising revenue, brought in live-streaming video function and doubled its tweet character limit.

But the quarterly figures show that monthly active users remained flat in Q4 2017 at 330 million. Daily active users, however, were up by 12%.

But the company reported that its net income for the quarter was $91 million. This is compared to the $167 million of losses the company took in the same period the year before.

Industry comment

Aaron Goldman, CMO, 4C Insights:

“Twitter's strong quarter is a clear reflection of brands steadily increasing their investment to capitalise on multi-screen marketing. Twitter has become the defacto place for the world to react to news, politics, sport, TV, weather and more.

“As such, it’s a great aperture for brands to deliver timely messages to targeted audiences. We are seeing this momentum carry over into Q1 with major tentpole events like the Golden Globes, GRAMMYs, Super Bowl, Winter Games, and Oscars.”

Nick Fletcher, Vice President, Rakuten Marketing:

“This is a momentous occasion for Twitter. It’s not too surprising, there’s been plenty of talk of the last quarter being a particularly strong one for the platform with monthly active users on the rise again. The compelling question is whether Twitter’s popularity has been driven by Facebook’s recent moves to restructure the news feed less in favour of advertiser and publisher content.

“It remains to be seen whether Zuckerberg’s belief that less time on social media will result in a higher quality of engagement, there’s certainly an argument for it, but for now brands are clearly happy with Twitter’s accomplishments in video and live broadcast and see a growing role for the platform in campaigns.”

Yuval Ben-Itzhak, CEO, Socialbakers:

“Slowed user growth remains a concern when it comes to Twitter, however, live video will be a critical investment for Twitter as content formats and ways to engage with audiences continues to evolve. Twitter has Live video from the Periscope acquisition and now would be the right time to ramp up the Live content format given the reach and engagement brands are seeing from it on other platforms.

“Twitter is clearly trying to make story-telling easier by allowing even more context to its algorithms to make them smarter when it comes to serving ads, with the addition of live formats to its features. This should ultimately help continue to differentiate the platform, drive user engagement and increase the user base.

“At the same time, investment in live videos makes Twitter an even more important platform to consider, providing marketers with new opportunities to define how advertising funds are spent on social media platforms and richer options to share content across multiple ad formats (Live, Pictures, Text) to capitalize on the attention of target audiences.”

- by Colm Hebblethwaite

Over a third of British consumers are planning to use their ‘right to be forgotten’ when GDPR comes into effect, according to research by independent media agency the7stars.

In a survey of over 1,000 UK consumers, 34% said that currently want to use their new powers to ensure that companies do not use their personal data for marketing purposes. The research revealed that concerns over data protection and privacy are weighing fairly heavily on the mind of consumers.

Only 19% of those surveyed were confident that their personal data was being used in the “best possible way. GDPR had prompted 58% of respondents to question the amount of personal data businesses currently hold.

Concerns

Despite concerns over the ways that companies are using data generated by their online activity, the research shows that there is still a large degree of misunderstanding about GDPR among consumers. 27% said that they had a good understanding of how GDPR will affect them when it comes into effect.

75% believed that it was the job of the government to make clear what GDPR is, particularly with respondents aged over 65 (88%).

The regulations are generally viewed favourably, with 58% saying they are a positive development. The regulations could be good news for brands too, with 32% of respondents they would trust brands more with their data after May 25th.

“With ‘Implementation Day’ now less than 100 days away, time is running out fast for brands, advertisers and marketers to get their data ducks in a row,” Frances Revel of the7stars said.

“Given the importance of data to business operations, the fact that over a third of people are looking to exercise their right to be forgotten represents a real threat that cannot be ignored.

“However, there is still time for Government and brands to come together to tackle consumer concerns around data protection and privacy head on, and the brands who get this right stand to gain the most.”

- by Colm Hebblethwaite

It’s February, and that means only one thing - its 11 months until the next set of January sales.

A few years ago, consumers would have to battle huge crowds, trudging from shop to shop in the freezing cold, elbowing people out the way to get the best deals only to find they’ve run out of stock...but, this year it is likely that many of us were getting our hands on cut price products from our warm and cozy living rooms.

In 2018, sales shopping on the high street is but a distant memory for many of us. Sales figures continue to fall as we increasingly choose to browse and buy via our laptops or mobile phones.

It’s true, we love online shopping. But it’s not without its flaws. In fact, online shopping is in the throes of a crisis. 76% of people who visit an online store abandon their carts without finishing their purchase. And a report by Barclays showed that this means UK retailers are missing out on a whopping £3.4bn worth of potential sales.

Why does this happen at such an alarming rate? The truth is, just like heading out to Oxford Street, the path to the final purchase online is often also long and arduous, fraught with unnecessary payment obstacles, unexpected costs or complicated delivery methods. Really, it’s no surprise that so many customers end up giving up on their purchase before payment.

Of course, there’s no denying that since online shopping is minimal effort, it’s a lot easier for a customer to fling something in their cart with no real desire to buy it in the first place. In fact, data from Statista claims that 38-40% of shoppers have no intention of purchasing the items in their shopping cart.

But the study also exposed issues with the shopping experience: 56% of consumers were shown to have abandoned cart due to unexpected costs, 25% because the navigation was too complicated, 21% felt the process took too long and 17% because of concerns about security. These are issues that retailers can easily rectify.

So how, exactly, can you make the road to purchase as smooth as possible so the customer pushes their virtual cart all the way across the finish line? Here are some practical tips:

1. Optimise the omnichannel experience

Everyone shops differently. But nobody wants a clumsy user experience. Whether they’re scrolling on an iPhone or an Android or clicking on a Mac or a PC, the online shopping experience needs to be seamless on every possible device. That’s easier said than done considering there are over 24,000 unique Android devices alone, each with their own nuances.

25% of shopping cart abandonment is because of complicated navigation - make sure there’s a straightforward path from cart to checkout on every single device a customer might be using. You can do this by testing the customer journey on as many different devices and for as many different groups as possible - have all bases covered. Thorough attention to detail during the testing process will pay off.

2. Keep the admin to a minimum

Don’t make it hard for the customer by asking them to fill out every last personal detail or redirecting them to third party sites. 46% of total shopping cart abandonment happens at payment stage, according to Internet Retailer. Entering endless bits of unnecessary information isn’t only time-consuming, it also reminds the user that their details are going to be fed into your omnichannel marketing machine.

The site’s design should reflect this simplicity. It’s worth remembering that the payments page is the very last stage of the customer’s journey - now is not the time to distract them. Don’t redirect them to another site, don’t offer them marketing material - just make sure that all they have to do is pay.

3.  Provide options for check-out

Don’t force new customers to make an account with a password and a profile if they don’t want to. Instead, you should provide a guest checkout option. You won’t lose out on their details - they have to include them for shipping and payment - and this way, they won’t feel like they’re being mined for their data.

On the flip side, however, you should give users who plan to return the option to create profiles where they can store valuable information. This means that next time, they can simply sign in and go, with no need to re-enter details.

And as the number of payment options continues to increase, particularly with the rise of mobile wallets, the main take-away for retailers is that no matter the method they should be able to support how each customer choose to pay.

4. Ensure trust

Purchasing online requires the customer putting their faith in an e-retailer. When consumers are handing over their personal and financial information, they must be reassured that it’s not going to be misused. Security breaches aren’t exactly uncommon - seldom does a week go by without a major one being reported. And it’s increasing - more data was lost and stolen in the first half of 2017 (1.9 billion records) than the whole of 2016 (1.37 billion).

It’s key that your customers have enough trust in the buying process to enter their data. The easiest way to do this is to show them that their information is secure. You should also display trust symbols on your site, particularly well-known security logos: Verisign, or PayPal Verified, for example.

5. No hidden surprises

There’s nothing worse than making it to checkout, preparing to take your card out of your wallet, but then to be presented with a nasty surprise: a delivery cost you weren’t prepared for.

Make sure your shipping costs are totally transparent before the customer has added it to their basket. You can even add a delivery calculator before checkout to estimate the costs. And it goes without saying that a surefire way to your customer’s heart is to offer free shipping where possible, or at least discounted shipping based on the order value.

Another way of avoiding shipping charges is to offer in-store pick-up. This is a growing trends - a survey conducted by Internet Retailer in August 2016 showed that 57% of respondents had chosen to buy online and collect their item in-store, saving money on shipping and eliminating the need to wait at home for a package.

There you have it: whilst shopping cart abandonment may be an irritation, it’s not hard to solve. The key is to make the potential customer’s journey go as smoothly as possible: no potholes, no unexpected tariffs, no endless data entry. By making the process as easy as possible, there shouldn’t be any reason for a potential customer not to become a returning customer.

-by Sam O'Meara