Twitter New Ad Platform – 'promoted Tweets'
One could argue that prior to launching a business there needs to be some form of monetary or revenue strategy set in place prior to implementation. This would be the logical argument and to think otherwise would be bad business. But the digital world has turned this idea on it’s head. Social network companies like Facebook and Twitter build products that are both useful and addictive, generating enormous amounts of traffic and loyal users. Building a business model is not a priority for them until the tipping point of users has been reached and the risk of turning off current users with advertising is low.
Understandably there has been a lot of hype around twitter and possible revenue strategies mainly because the company has been funded by investors and has yet to spread it’s legs and turn significant profit. Up until now it has relied upon its ‘self serve advertisements’ to generate revenue. This has already proved appealing for some big brands and is a growing area for digital marketing spend.
Twitter announced this week that on the 20th of April this year it will launch it’s ‘Promoted Tweets’ which will place ad’s on twitter via search results. Initially the ad’s will work similar to Google’s Adwords, triggering on specific key words, but will have the capablitiy to change depended on consumer behaviour. The potential for viral marketing is enormous via Re tweets. Companies announcing specials and deals will reap enormous benefits from the web’s answer to traditional word of mouth.
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