Paid Advertising Opportunities on Twitter
With 140 million registered users and 350,000 new sign-ups per day, it's past time for marketers to think about taking advantage of the paid advertising opportunities on Twitter. Twitter will continue to monetize its site by rolling out new advertising products in the near future, and there are two opportunities that are currently live: Promoted Tweets and Promoted Trends. A third opportunity called Promoted Accounts is currently in testing for a select few advertisers.
Promoted tweets allow advertisers to bid on keywords on search results pages. The ad unit shows up at the top of the search results and looks like a regular tweet except that it's labeled “promoted.” Similar to paid search, the advertiser pays when a searcher engages with the ad, which Twitter calls cost per engagement (CPE).
An engagement is classified as a click on a tweet, a retweet, a favorite or an @reply to the tweet. CPE is currently reasonable because of limited competition. Promoted Tweet advertisers mostly only bid on their brand terms and have little or no competition for those terms. Thus, a small budget can go a long way.
Links within Promoted Tweets can go anywhere — like to a brand's native website, its Facebook fan page or a YouTube video. With Twitter's new version being rolled out through September, advertisers can embed content within a Promoted Tweet. Promoted Tweet users will also have access to a dashboard that measures engagement metrics for their tweets.
Twitter users may be searching for product names to see what the Twitter universe is saying about a product they're considering purchasing. Promoted Tweets give advertisers the ability to show up on top of the search results for their product names. Thus, a Promoted Tweet can do things like help manage a brand's reputation, provide more information on certain products and offer coupons.
Promoted Trends allow advertisers to show up in the "trending topics" section on the right rail of Twitter. For Twitter's redesign, the trends show above the fold. The first 10 trends are topics that are naturally trending on Twitter that day. Promoted Trends show as the 11th trending topic, and are labeled “promoted.” Promoted Trends run for a day at a fixed cost. When a user clicks on a Promoted Trend, they're taken to the Twitter search results for that trend, where the advertiser's Promoted Tweet ranks on top.
If you're thinking about running a Promoted Trend, pick a topic that seems to fit with the day's other trends. Keep in mind, the topic could have trended naturally. This makes Promoted Trends ideal for keywords around new product releases that will be generating some amount of buzz on Twitter.
Movie studios have embraced Promoted Trends for new releases. Twitter users are likely to be buzzing about topics related to a new movie release. A Promoted Trend will help create even more buzz around the movie. Promoted Trend advertisers thus garner more engagement — e.g., clicks, retweets, favorites and @replies — and followers.
Promoted Accounts launched this week and is currently in testing. They allow advertisers to pay to be included in the “Who to Follow” feature, which is displayed on a user's profile page. “Who to Follow” suggests accounts that users should follow based on their interests, as determined by other accounts they follow. Promoted Accounts should be a great way to gain more followers who are interested in a particular brand or service.
The Twitter phenomenon isn't something that advertisers can ignore. All brands should be using Twitter to engage with their fans and critics naturally. And for some brands, paid opportunities like Promoted Tweets and Promoted Trends can help increase engagement, manage reputation, gain followers and sell products.
Related story: A Q&A With Zecco's CEO on its Promoted Tweets Strategy