San Francisco based Twitter Inc., one of the fastest growing social media platforms in the world, is in the midst of the second wave of its online advertising beta program which features their “Promoted Products.”
Why advertise on Twitter?
Twitter’s audience is both massive and engaged. There are 195 million registered users with approximately 370,000 new registrations each day. Twitter.com alone commands 210 million monthly unique visitors with about 70 million page views per day. These would be impressive numbers for any website; however, the engagement level of this audience proffers significantly greater value for advertisers.
In June 2010, ExactTarget conducted a survey which found Twitter users were 61% more likely to ‘write at least one product review a month’ and also ‘comment on news sites,’ while non-Twitter users displayed a tendency of only 20% and 15% respectively for these actions. Twitter’s users create 110 million Tweets per day and on average spend $73 online compared to non-Twitter users’ $41. Another study found that ‘Following’ an entity on Twitter resulted in (or, equated to) a 79% likelihood the follower would ‘recommend’ the company, person, or organization to another, while a person ‘Liking’ an entity on Facebook resulted in a 60% chance that they would ‘recommend’ the company, person, or organization to another.
How to advertise on Twitter?
Twitter’s triad of “Promoted Products” includes: Promoted Tweets, Promoted Accounts, and Promoted Trends. All three are expedient options for an advertiser to consider. Let’s explore them.
These allow an advertiser to show up when users search for specific term or set of terms using Twitter’s search function. Larger, well-known corporations such as The Coca-Cola Company (@CocaCola) and Volvo (@VolvoCars_US) purchased their own names, which generate a steady flow of searches and interest online. In this way, if a user searches for “Volvo” a Volvo Promoted Tweet will always show up at the top of the users search results. Smaller, unsung companies would be better advised to purchase terms other than their own, which may not generate enough interest to be effective. Songza (@Songza), the Queens, NY based music site, wisely choose to purchase #sxsw which is the hash tag for popular music, film, and interactive conference South by Southwest. Clicking Songza’s link brought users to a page featuring music from the upcoming event. Internet Explore (@IE) has also purchased this hash tag in the recent past.
These allow an advertiser to be displayed as the top trending topic for a day, conferring instant prominence for an advertiser’s brand. Terms that are trending on Twitter attract a lot of attention and frequently become the subject of conversation between Twitter users. Users are usually curious to see why certain topics are trending. Selecting a term that is related to an offer or event is a strategy that many advertisers use. For example, European ticket giant Viagogo (@viagogo_NA) recently purchased the term “Mumford & Sons” to push tickets to a music festival featuring the popular American band. This not only drives site traffic and ticket sales, but also associates the brand with the band. More seriously, Middle-Eastern news leader Al Jazeera (@AJEnglish) purchased the hash tag #bahrain to take advantage of the overwhelming interest in the protests occurring in that country. Advertisers should choose their terms and hash tags carefully. Recently, soft drink maker Dr Pepper Snapple Group Inc’s., Sun Drop purchased a Promoted Trend with the hash tag #howudropit which seemingly failed to resonate with users. Even when a Promote Trend fails to deliver positive feedback and retweets, it still can deliver value by drawing attention and site traffic.
These allow an advertiser to be displayed as the top suggestion of “Who to follow.” Normally, Twitter displays four accounts on the right side bar which they suspect a user might want to follow. These are personalized recommendations based on users past activity and current accounts followed. An advertiser behind a Promoted Account can target based on keywords or audience demographics. Furthermore, an advertiser can request that only users following specific Twitter accounts receive the suggestion to follow their Promoted Account. Advertisers that have recently taken advantage of Promoted Accounts are: @ATT, @OPENForum (American Express), @AARP, and @Terametric.
Still Confounded by Twitter?
Feel free to send Smart Media Group any questions regarding advertising on Twitter at @Smart_MediaGRP or you could actually call our team directly at 703.518.4747 – we’re always happy to chat!