by Jeanine Vecchiarelli return to JayVee Media Link LLC
We have been hearing a lot lately about innovative ways to advertise on Facebook. Well, Twitter is not about to let Facebook monopolize the marketing limelight! Over the past few weeks the microblogging platform has introduced several tweaks to its advertising opportunities. Since the changes are new, it’s too early to tell how effective they will be. But they do sound promising!
One change Twitter has effected is that the rule requiring “promoted tweets” to be sent only to a business’ followers has been lifted. Businesses can now target ads to a variety of different interest categories, as well as to people who demonstrate similar interests to the companies’ accounts. With a little imagination, we can see how broadly this new allowance opens up the field of potential recipients for marketing ads.
Another change is that Twitter has dropped the price of its promoted tweets considerably. While the platform still employs the auction style sales model, the price it charges per engagement for an advertising bid has been dropped from 50 cents to a penny. This change should dramatically expand the number of merchants who use Twitter advertising. Be warned, though, that merely winning auctions does not guarantee ad placement into the stream. The tweets that will be promoted must first demonstrate that they achieve good responses.
In conjunction with these changes to Twitter promotions, global advertising marketplace Ad Dynamo has added a new twist: paying Twitter users to promote products. What better way to appeal to prospective customers than through sincere endorsements from some of their peers? With the launch of Ad Dynamo’s sponsored tweet campaigns, any Twitter user can become a paid promoter of a company’s product or service. He or she needs only to register for the program and respond to briefs that prospective marketers prepare. A price is then set for user promotion. Of course, those participants with large followings and good reach are able to set higher prices for their recommendations. The companies have final say to ensure that the right messages are being conveyed in an appropriate manner for them, and Ad Dynamo supplies them with analytics to measure the success of the Twitter users’ promotional efforts. Authenticity in tweeting is strongly suggested, since hollow endorsements can be spotted fairly easily. Other than that, the process is pretty straightforward.
I should mention here that Facebook also offers a version of sponsored stories. However, its version is done differently, and is not very popular with the platform’s users. In order to employ its sponsored stories ad campaigns, Facebook relies on a frequently overlooked stipulation in its terms of service that new users are required to accept. In a nutshell, this rule allows the platform to turn a Facebook user’s “like” of a business or product into an ad if that business pays them to do so. No further permission is required of the profile owner, whose name is then used for endorsement purposes. Many Facebook users resent this move, believing it to be both a violation of their privacy and not necessarily a true endorsement. Even those users who don’t mind having their names appear in Facebook’s sponsored stories acknowledge that merely liking a business page is not tantamount to a recommendation. All things considered, sweetening the deal as Ad Dynamo is doing by offering a monetary incentive AND making participants opt in yields a much higher acceptability rate for Twitter’s sponsored stories over Facebook’s efforts.
The competition between and among social media platforms and their advertising offerings is giving way to more innovation and diversity for businesses who employ the sites. This is good news for companies who understand the growing importance of these marketing tools and embrace the strategies they offer.
What are your thoughts about Twitter’s changes to its promoted tweets? Does Ad Dynamo’s sponsored tweets service appeal to you? Please let us know in the comments section below!