Ned Segal, Twitter’s chief financial officer, said in an interview with CNBC financial program “Mad Money” on Tuesday that as Twitter’s transformation, part of the corporate strategy is to enhance the use of the platform by local companies. Ability; The company will launch a subscription product for enterprise users, making it easier for them to advertise on the platform.
Siegel said: "We have a lot of local businesses on our platform, but they are not advertising on Twitter like other platforms, mainly because the process of buying advertising is not simple and easy. ”
Siegel said that while Twitter has proven his worth in local news, people can see the breaking news around them and people’s comments on hot events on the platform, but millions of local companies on the platform Not yet fully utilize this platform.
Creating a subscription advertising product for business users
He said: "We have done a lot of work in this area recently. We want to create a subscription product for enterprise users so that they can more easily advertise on Twitter, but now we want to make more local businesses on Twitter." Advertising, we still have a lot of work to do. ”
Siegel said that a large amount of Twitter data can also attract companies that want to cooperate with Twitter.
Twitter sells data to these companies, both to help companies achieve greater success, but also can turn themselves into potential corporate advertising partners.
Siegel said: "The most important point of our data business is that we don't have to consider the business models of these companies. We provide our data to them and they can build quality services around the data. ”
After the transition, the overall tone shifts from optimism to modesty
Siegel also talked about other changes after the company's transformation in an interview, including the overall tone shifting from optimism to humility.
He told the show host Jim Cramer: "We do feel a sense of humbleness, but we also know that everyone in the world can benefit from what happened on Twitter." ”
Siegel went on to say: "As of the end of the fourth quarter, we already had 330 million monthly active users, and our daily active users have maintained double-digit growth for the fifth consecutive quarter. But we feel that everyone in the world can benefit from what is happening and what people are talking about on Twitter. So we still have a lot of work to do in this area. ”
Adjust the priority
Siegel said that under the leadership of CEO Jack Dorsey, Twitter has re-adjusted its business priorities in the past few years. Siegel is a Wall Street veteran who replaced Anthony Noto as Chief Financial Officer of Twitter in July 2017.
Twitter’s current concerns are also what attracts Siegel to join the company: helping users understand what is happening in the world that is important to them.
Despite this, Siegel admitted that he never thought he would see on Twitter that something like "" Rex Tillerson learned from Trump's tweets that he was fired ” Such news.
He said: "I was shocked when I saw Kramer with 1 million followers on Twitter and various news on Twitter every day. This is what the company has attracted me. It is a sense of mission. People here can learn about what is happening in the world and they can also see breaking news. ”
Twitter still needs improvement in some areas
Siegel also said that he believes that Twitter still needs improvement in some areas, including machine learning, platform health, video participation and business solutions.
He said that whether it is local news or events happening in the distance, Twitter still needs to improve in providing users with content that they care about and that are relevant to them.
In terms of platform health, Siegel stated that Dorsey has been actively promoting the elimination of rogue and hate-type robots.
Siegel said that Twitter has also been focusing on live, user-generated and professionally produced video content. He said: "Video is an important part of the overall strategy. This is also part of creating data, and then we can sell this data to business users. ”
Siegel also said that allowing companies to realize that the value of Twitter is another pillar to achieve the ultimate goal of the company, so the company intends to launch a subscription product for enterprise users to make them easier to advertise on the platform.