Ten years ago, on this day, the first tweet was sent by Twitter co-founder Jack Dorsey. At the time, the social network was still called Twitter and a tweet was described as a ‘short burst of inconsequential information.’
A decade since and 500 million tweets are sent every day. Over the years, twitter has moved from being just a platform for networking to a ‘must have’ for businesses.
The first company to use Twitter commercially was Sky with a promoted tweet for the new series of popular TV show Glee. Within a year of opening the UK office, 140 companies had advertised on the platform.
Twitter for marketing campaigns.
Twitter has increased its spend on marketing campaigns, bringing brands closer to their audience and giving them the ability to join in conversations. However, the biggest advantage is moment marketing. Marketers are able to tweet when a particular event is taking place and increase their reach.
UK MD Dara Nasr explains, “When you think of Twitter as a user there are tweets, trends and suggestions on who to follow. What we did was extend that into the promoted tweet, trend or account. And what we’ve seen on the back of that is it’s not intrusive, it is very clearly promoted and with our targeting it allows brands to get real prominence and visibility,”
But, as with everything else, there is the downside of relying fully on Twitter as a brand engagement platform. Nasr claims typical engagement rates on Twitter are between 1% and 3% while the average for online display is 0.07%.
So, what happens to the other 97% of engagement? Twitter has faced stiff competition and has been struggling to keep up with rivals. Its display ad revenues are expected to hit £164.7m this year, rising to £267.6m in 2018 and giving it an increasing share of the UK display ad market, according to eMarketer. But that is well behind Facebook’s £1.14bn in revenues and 32.1% share.
Another big concern for marketers is safety and copyright. Brands are able to access and copy what their competitors are doing, not to mention hacking threats.
So what comes next?
Improved targeting and analytics are big points of focus to help brands. The use of twitter generation cards and focus on ‘trending now’ will see success to brands using twitter.
“What we can promise is increased innovation and further sophistication of our products, targeting and analytics.’’ Nasr concludes.
Speak to KW Digital today to find out more about social media advertising. Call us for free on +44 (0) 1704 898951 or email email@example.com.