Twitter has launched new targeted advertising for promoted tweets and accounts based on interests. Now with interest based targeting, marketers have found new confidence in it.
Social Media has grown exponentially in the last few years. Over the years, it has raised a lot of concerns and one of them is of users complaining of information overload. Simultaneously businesses have been complaining that their investments on ads have not resulted into more business. Facebook ads have been always debated on and its mobile revenue strategy still remains a grey area. Twitter, with its promoted tweet ads has not been an exception too.
Today networks are turning into interest based ones solving the problem of information overload. So in other words, I am going to see what I want and the same applies when I share. Facebook has been struggling in this area but Twitter has worked on this to turn into an interest based network. In addition to this, the networks have worked on their ad strategies providing more confidence to businesses.
What is Interest based targeted advertising?
Twitter has made it’s ad strategies more stronger and gone one step further by allowing marketers to target advertising by amplifying the reach. According to Twitter’s latest blog post, the network now promises to reach your followers who share common interests with you. Providing the example of “How Bonobos held a 24-hour sale exclusively on Twitter”, the network stated that the entire campaign resulted into a 1-3% average engagement rate for Promoted Tweets campaigns.
Twitter at present is providing two ways of interest targeting:
1. For a broader reach, a marketer can target more than 350 categories. These categories range from society, science, movies, etc. So you can choose the interest categories from the list as shown below:
2. The other way is when the targeting is more specific and is certain to particular @usernames. So if you want to promote an event or a product then you can select a set of Twitter handles that you want to reach out to. Along with custom segments, you are also provided a chance to reach out to user names with similar interests. So with the present launch, you can not only reach out to a set of users but it will also allow you to reach out to users with same interests.
Additionally, Twitter has also lowered the minimum bid rate and brought it down to one cent. The new way of targeting and lowering the minimum bid will result into greater ROI, said Kevin Well, Director Management at Twitter.
Twitter nails it!
I have always been vouching for interest based networks and have often said that it would be the second generation of social networks. Twitter has been working on it’s network to evolve from a simple social network to interest based networks. Initially this was one of the missing links of Twitter but over the time it introduced Tailored Suggestions, Trends, etc. In addition to these, introducing Stories in the #Discover section was another move in the same direction.
Now with interest based targeting, Twitter has given more confidence to marketers. However, it is still not clear how Twitter is going to determine users interest on a particular area, says TNW. Though it is a guess from TNW that combination of tweet data, followers and following data might be used to determine interests. Additionally, I won’t be surprised if Twitter asks me for my interests. If it does then Twitter will be miles ahead from any other network present in the planet.
I am sure this new move will boost confidence of marketers and I think the projected reach of $540 million by 2014 won’t be a tough task for Twitter. A few months earlier, Twitter was trending since it’s mobile advertising was accounting for more revenues than its website. And it was later proclaimed that Twitter had far more success than what Google and Facebook are yet to taste. The new move will only raise the bar for its competitors.