It was just a matter of time before Twitter jumped on the advertising bandwagon with its latest revenue stream of “Promoted Tweets,” “Promoted Accounts,” and “Promoted Trends.” My initial reaction, Twitter is selling out and the Twitterverse will not react kindly. On second thought this is the generation that loves advertising according to a survey conducted by Edelman. My favorite finding:
Millennials are surprisingly open to brand engagement and advertising, if brands have the right approach: Only 3 percent of Millenials thinks all advertising is boring, and 80 percent want brands to entertain them.
Now that I know that my target audience is into be ing targeted, is it worth it?
For large corporations like @LGthe Promoted Trend called #LGTicketHunter certainly paid off.
50,000 hashtag mentions later, 20 million impressions, 5,000 tweets per hour, and just under 12,000 engagements. This is what they call real-time marketing that ran for over five days using the same Promoted Trend on two of those days. Not too shabby. The same should be said for @Virgin, @Cadbury, @Cirque Du Soleil and @Porsche.
On a smaller scale, @Blackboard, the software Ryerson University uses to conduct its online classes including this one (CDPR 108) applied Promoted Tweets successfully. According to a case study, @Blackboard engagement reached 4% and average daily brand mentions increased 78%. They also exceeded their contest participation goal by 50%.
So again, is it worth it for a start-up like my online furniture store ?
Twitter’s previous flat fee of $15,000 made advertising out of reach for most small businesses. That was then, this is now.
Promoted Tweets allows your tweet to appear at the top of search results or timelines of users with parallel interests. If users engage; you pay. If no one engages, you pay nothing and it stops being a promoted tweet and more like a rejected one. The cost known as CPE(Cost-per-Engagement) is based on a bid price usually between 20¢-$5. It’s up to you as a PR practitioner to roll out quality content to reap the rewards of attracting business that goes way beyond your followers.
For Promoted Tweets to have longevity they require resonance in the form of:
A word of caution, since the price you end up paying is dependent on an auction, set your daily bid low and adjust the start and ends dates of your campaigns so that you’re in control of how much you spend per day.
For Promoted Accounts, Twitter carefully selects users with similarities to your current followers and then suggests to these potentials to follow your account. If there’s a specific demographic you’re interested in attracting, you can go as far as geo-targeting users from specific countries or cities. The CPF(Cost -per-Follow) is about 50¢-5$, so essentially, you’re paying for your followers. Promoted Accounts are best for growing loyal followers, those of which you now own.
Promoted Trends are at the top of every single Twitter account. The reach is enormous but is out of the question for start-ups or small businesses as they go for a flat fee with a cost averaging about $120,000 according to Twitter director of revenue Adam Bain.
Which, if any will it be? Promoted Trends is out. Promoted Accounts feels like you’re buying customers. Maybe it’s because you are.
Promoted Tweets sounds the most promising, especially for launching unknown start-ups. If I do decide to promote my tweets, I better make each click count.