The Twitter Ads API is big news. Here is a summary of some the key themes from the buzz.
In February Twitter finally announced it would allow marketers to advertise at scale using third-party buying and optimisation systems through offering an advertising API for its Promoted Tweets and Promoted Accounts products. This will allow marketers to buy and optimise Twitter ads alongside their other media and is currently in beta available only through 5 partners, Adobe, HootSuite, Salesforce, TBG Digital and SHIFT. This announcements has been a long time coming with speculation that Twitter would follow Facebook and LinkedIn with an effective advertising solution.
There has been plenty of buzz in relation to this announcement, as a result I thought I would share with you a summary of some of the themes that is coming out of these discussions:
Reach is up, cost is down. Adobe has used Promoted Accounts to increase the follower base by 63%, while decreasing the cost-per-follow by 60% for its own account and clients Threadless and Levi Strauss & Co. TBG has five clients live or going live on the API, and in an article on TechCrunch CEO Simon Mansell noted that one client saw a 61 percent decrease in cost-per-engagement.
Powerful real time marketing opportunities.
Just as an engaging post can be turned into a Sponsored Story on Facebook, advertisers will be able to monitor and manage their Promoted Tweets. In addition to this they will also be able to target users and as Balachandar Ganesh points out in his post on Venture Beat (VB), marketing software vendors with a strong focus on analytics will be able to give marketers the ability to run highly targeted and highly contextual ad campaigns.
Enhance your Multi Screen strategy. With so much focus at present on Multi Screen strategies it was interesting to read on Business Insider that TBG Digital believes that advertisers will want to use the Twitter Ads API to buy campaigns on Twitter to augment their TV advertising as it will allow advertisers to time their campaigns so they can hijack anything else that’s happening on TV. What is the use of running an ad on TV if no one is talking about it?
There will be no impact to the Twitter user experience. There has been concern that this will mean that users will be exposed to a flood of new advertising. While there has been reassurance from Twitter that the user experience will not be eroded the general feeling is that without the traditional advertising such as banners and with Twitter being driven by written content the opportunity for brands is that they can become part of the conversation by creating engaging content. As Twitter’s President of Global Revenue, Adam Bain, was quoted “Our Ads API launch today will help bring even better real-time marketer content to the platform. Marketers win by being good vs. loud”.
It will be great for revenue. Before Facebooks launched their API their revenue was $1.8 billion, it has now grown to over $5 billion and this growth has been used as a benchmark to predict future revenues of Twitter that are expected by some to soar to $1 Billion within the next 12 months. eMarketer have forecasted a less aggressive revenue growth with revenues at $807 million by the end of 2014.
Stay tuned on this one, it is going to be an interesting ride for both Twitters and marketers who want to utilise this channel.