Twitter Inc (NYSE:TWTR) has become the butt of cruel jokes since the markets opened for trading this year as investors continue to bail on the stock. At the heart of Twitter’s problem is an inability to grow its user base and make money off its current crop of users. Twitter has had short bursts of bullish activity but the predominant trend on the stock leans massively towards the bearish camp. For instance, the stock gained 2.06% last Thursday, only to close down with 0.60% gain on Friday and the stock is down 24.5% in the YTD.
Twitter may be slowly rebuilding itself even under the heavy clouds of negativity surrounding the stock. Those clouds makes it hard to see any light at the end of its current long and dark tunnel. The process of rebuilding Twitter seems to be focused on pivoting Twitter toward business users and finding ways to monetize the current user base.
Twitter becomes customer service tool
Last Thursday, Twitter revealed new tools designed to make the platform a real-time customer service platform. It is no longer news that Twitter does a great job at providing people with an avenue to have real-time communications with people on a global scale. Brands have embraced Twitter because it allows them to interact with customers. Twitter says “millions of customer service-related interactions happening every month on the platform… advertisers tell us that over 80% of their inbound social customer service requests happen on Twitter.”
Ian Cairns, Product Manager at Twitter revealed that the form has released two new tools that will help businesses provide better customer service on Twitter. The first tool provides a simple way for customers to move from a tweet to a Direct Message for private conversations with a business. When a customer needs to share somewhat personal information with a business, they can easily move from a Tweet into a direct message through a deep link that displays a call to action embedded in the tweet from the business.
The second tool for customer support from Twitter (NYSE:TWTR) is a new feature called Customer Feedback. Customer Feedback is a simple survey tool that brands can use to measure the level of satisfaction that customers have with their service experience. Cairn says, “Care teams have told us they love the open-ended feedback they get from people via Tweets and Direct Messages… but they also need the ability to survey customers in a structured way to better measure and improve their service experience.” The feedback feature allows people to share their opinions about the quality of service privately so that brands can improve their service experience.
Many people are still confused about Twitter
The new features that Twitter rolled out are designed to help the firm monetize its current user base. However, the firm is still far from creating a solution that will attract new users to its platform. One of the main reasons Twitter has been struggling with stagnating (possibly declining) user number is the complexity of its service. New users find it hard to understand the @ing, #hashtaging, and jumping into conversations with random strangers.
The Guardian reports that Twitter (NYSE:TWTR) has millions of abandoned accounts because the tweeting process confuses new users. Jack Dorsey is doing a great job improving the product in order to monetize Twitter effectively. However, he needs to do a better job at simplifying Twitter so that it stops feeling like a country club for new users. Unless Twitter simplifies itself, the firm will continue to have abandoned accounts because many people do not have the time to take classes on Twitter 101.