Posts tagged Square
As early as last Friday, Google reported slower levels of activity from China. It is speculated that the disruption is due to the 25th anniversary of the crackdown on pro-democracy demonstrations around Tiananmen Square in Beijing.
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Reports of Twitter’s death have been greatly exaggerated.
Yes, the social network is experiencing slow growth. Sure, Twitter is implementing a slew of changes that will transform it into a website very different from the text-based social network we’ve come to love. And maybe you’ve gotten bored with it. That doesn’t mean we’ll be attending its funeral any time soon.
Early adopters will no doubt decry Twitter’s evolution—and I’m one of them. I’m not a fan of the new Twitter that copies features from Facebook with abandon, and I’m definitely not alone. People who have used the service for years have become accustomed to the way it looks and operates; we’ve become the Twitter elite that gets how Twitter works, with all the silly hashtags and Twitter canoes, and we don’t want more people coming in to rock the boat.
The thing is, Twitter can’t be considered a dead social network until it has time to live among the masses. And to appeal to a larger audience—one that isn’t just tech bloggers, media, early adopters and their ilk—it needs to change.
Twitter, as we know it, might be dying. But much like a caterpillar turning into a butterfly, Twitter needs to experience radical change before it can really fly.
Not A Town Crier, But A Friendly Companion
Twitter CEO Dick Costolo has historically referred to his social network as a “town square,” with millions of people sharing news and events with each other in 140-character spurts in real time. But Costolo dropped his metaphor during Twitter’s first quarter earnings call on Tuesday.
“We think of Twitter as this companion experience to what’s happening in the world,” he said.
Twitter itself is acknowledging the changes. It’s come to realize the “town square” metaphor doesn’t resonate with the masses, and it needs to reposition itself as an accompaniment to, rather than an authority on, what’s happening around its users.
Twitter as a companion service means that people don’t necessarily have to tweet or contribute all the time just to enjoy the greater community that solely exists on Twitter.
The company’s move to become the most popular “second screen” experience is a perfect example. Twitter wants to be the application everyone is using while watching television, but that doesn’t necessarily mean people must tweet simultaneously. Sometimes just following their favorite celebrities’ statuses or reading hashtag threads will be enough.
For instance, on Monday’s “The Voice,” banter between coaches Blake Shelton and Adam Levine found its way to Twitter. Shelton tweeted rival coach Levine’s cell phone number, which was retweeted almost 40,000 times. As a fan of “The Voice,” watching the duo tease each other without being privy to it firsthand might produce a bit of FOMO—or fear of missing out—and could prompt new Twitter users to sign up just to take part in the fun.
Twitter also announced Tuesday it has grown to 255 million monthly active users, up from 241 million last quarter. Still, investors don’t feel Twitter is growing fast enough: Those growth numbers fell below analyst expectations, and as a result, Twitter shares fell shortly after the company released its earnings.
An Expected Shift
Indeed, Twitter has a slow growth problem, but it’s not for lack of awareness. Twitter is unavoidable: Tweets are embedded on news outlets around the world, broadcasters read tweets while calling sporting events, and it’s almost impossible to watch live television without seeing an advertisement incorporate a hashtag or an @-mention.
People are aware of Twitter, they just don’t know how—or why—they should use it.
The company has made significant changes to its core product in an effort attract a broader audience and boost user growth. Most notably, the company completely redesigned user profiles by ripping off a more user-friendly service—Facebook. The Facebookification of Twitter certainly has its downsides—we don’t want another place for friends. But as its slow growth demonstrates, Twitter, as it is right now, isn’t enough.
Twitter also hinted at more tweaks to its direct message product, a feature that has seen its own share of updates in recent months. A more robust messaging service that complements its companion app strategy will hopefully encourage even more people to use the application.
Try as it might to convince users otherwise, Twitter still faces an identity problem. It’s struggling to become a must-have application for everyone, while those of us who rely on it for news and events are slowly becoming dissatisfied with the way it seems to be diluting itself to appeal to a broader audience.
Twitter is taking a risk—it’s making changes to get more people on the service that alienate the people that helped build it up in the first place. It’s a risk Twitter is willing to take, because getting the next 255 million people on Twitter is worth making a few dedicated users very unhappy.
Lead image courtesy of NYSE
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Square announced on Monday a handful of new tools that let business owners offer pickup services, accept payments while offline, and track their inventory.
As ReadWrite predicted earlier this year, Square is finally ready to enter the order-on-demand market, where it faces stiff competition from services like Eat24 and GrubHub. Where Square has the advantage, though, is its new pickup offering that integrates seamlessly with its e-commerce products Square Register and Square Market, which lets Square merchants take online orders.
With Square’s new pickup tool, businesses can post items on Square Market, and customers can order and pay online and pick up their products in-store.
“Research shows that food and beverage is the second most popular category among purchases made on smartphones, and that more and more people prefer to use their smartphones to pay,” Square said in a statement. “Square is helping local business owners match these trends and connect with customers.”
To simplify business transactions when there are technical difficulties, Square is introducing Offline Mode, which lets sellers use Square’s mobile point of sale products, like the credit card reader, to accept credit card payments even without an Internet connection. Square will log the information when the card is swiped, and store it until Internet service has resumed, which means Internet disruptions or outages be a problem of the past for business owners that use Square.
Additionally, businesses selling product from Square Registers or Square Market can now track their product inventories through their Web dashboard and set up notifications to be alerted when inventory is low.
Lead image courtesy of Square
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Soon you’ll be able to order food or book an appointment by using a Square app.
On Wednesday, the payments company announced the acquisition of BookFresh, a booking tool for services businesses. It is also testing a new application called Square Pickup that lets users order directly in the application, pay with Square, and pick up their food in the restaurant when they’re ready.
The moves represent a broadening of Square’s payments business beyond its original, iconic credit-card swiping device, which let businesses accept in-person payments with a smartphone or tablet—a substitute for cash registers and credit-card terminals.
Last year, it expanded into e-commerce with Square Market, which let existing Square merchants take online orders. It also has apps for consumers, like Square Cash, which allows people to send and receive transactions via a mobile device, and Square Wallet, which lets buyers pay with stored payment information rather than having to take out a card to swipe it.
Square Pickup, like Square Market, is best thought of as an extension of Square’s existing in-person payments for restaurants, delis, and cafes already using Square. Rather than having customers call in an order and then pay for it by swiping a card, it lets buyers order and pay through an app. It’s helped by the fact that Square merchants have already loaded their menu into Square’s Register app.
BookFresh, a San Francisco-based startup, will similarly help service providers who use Square to accept payments to also manage appointments.
Robin Dhar at Priceonomics first noticed Square’s new application when he picked up lunch from a local eatery. The app is still in beta and only available at select locations. In order to use Square Pickup, you need an invite code.
A spokeswoman for Square declined to comment about Square Pickup, though the signup form is publicly available on Square’s website.
Square Pickup faces competition from order-on-demand applications from Seamless, Postmates, Yelp, and PayPal. But rather than taking those companies heads-on, Square is more likely making a defensive play to keep Square merchants from trying those competing services for orders, and consolidating their transactions with Square.
The BookFresh acquisition, by contrast, could help Square expand its business among service providers.
Image courtesy of Square
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