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Twitter Inc (NYSE:TWTR) has tapped a global executive from American Express Company (NYSE:AXP) to be its new chief marketing officer (CMO). The confirmation of Leslie Berland as Twitter’s new CMO comes in the wake of executive outflows from the microblogging company. It is believed Berland could help Twitter enhance its play in the digital payments space, especially as the company expands into social commerce business.
Twitter Inc (NYSE:TWTR) is undergoing transformation and CEO Jack Dorsey is causing many heads to roll. As some senior executives are shown the door or leave on their own volition, Dorsey is reaching out for talents that he believes can help speed up the turnaround of the company. In Berland, for instance, Twitter is adding to its management team a global business leader with extensive corporate network.
Twitter needs such network to appeal to corporate advertisers to spend their marketing dollars on its platform. Berland’s most recent role at American Express was as chief of global advertising, marketing and digital partnerships. She was responsible for modernizing American Express by building links with Silicon Valley.
Berland has herself promised to work towards broadening Twitter’s reach and boost its impact as a company.
Twitter in payments
Given her background in the payments industry, Berland looks like a perfect hire for Twitter Inc (NYSE:TWTR) at this juncture. The social media company is expanding into what has come to be known as social commerce, where social media users are enabled to search, buy and pay for items without leaving the social app they are using. Facebook Inc (NASDAQ:FB) is doing similar implementations on its main social platform. Overall, digital payment is a potentially lucrative segment that Twitter can venture into to propel its revenue growth. Berland can help Twitter rapidly realize its digital payments support ambitions.
Shortage of audience
With just over 300 million members, Twitter Inc (NYSE:TWTR)’s subscriber population is significantly dwarfed by Facebook, which has more than 1.5 billion active users. Twitter’s subscriber growth has seemed to stall in the recent times, but the company needs to do something about it urgently to impress deep-pocket corporate advertisers.