As Facebook revamps its advertising offerings, Twitter is changing its advertising program as well. The social networking platform, known for its 140-character updates, now plans to give companies multiple ways to purchase ads.
Twitter announced on Aug. 7 that marketers will be able to use “objective-based” campaign tools to reach out to target audiences. In the past, Twitter had a cost-per-engagement model, and users only had to pay for promoted tweets when people interacted with them, according to AdAge.
Now, marketers can decide how they want their money to be used. For instance, they can choose to pay when a Twitter user retweets an update or favorites a tweet.
“It’s a maturation of the medium,” Sean O’Neal, president of Adaptly, an ad-tech firm specializing in social media, told AdAge. “Marketers are now seeing that these platforms can drive true business outcomes.”
Addie Conner, chief innovation officer of SocialCode, a Twitter API partner, told the news source that Twitter may still be an uphill battle for marketers. People might be quick to “like” a Facebook post, but they aren’t always fast to interact with updates they see on Twitter.
“This puts more of the burden on Twitter to be able to scale the ads themselves through their own back-end algorithm,” Conner told the news source.
The Hidden Benefits of Twitter for B2B Marketing
In March 2013, Twitter released the findings of a study called “Tweets In Action,” which was created in conjunction with Compete. Compete looked at more than 6,000 U.S. Twitter users to more than 400 B2B technology sites from mid-November through December of 2012.
Compete and Twitter discovered that users who see tweets from B2B technology brands are more likely to visit their website. Specifically, users were 59 percent more likely to do so if they saw a B2B tweet.
Additionally, researchers found that people were 30 percent more inclined to search for a B2B brand after seeing a tweet by it on the website.
“Business decision makers are engaging on Twitter,” Cheri Saito wrote on the official Twitter blog. “B2B customers and thought leaders use Twitter to discover information and share content. This offers B2B marketers a unique opportunity to connect with this audience, build relationships and influence their decisions – all in real time.”
Twitter has more than 105 million registered users, according to HubSpot, and 300,000 people join every day.
Image credit: blog.twitter.com