According to Twitter, the social media company will launch a new advertising service that will improve the last year's Twitter Publisher Network. The new marketing platform will allow advertisers to run ad campaigns not only on Twitter social media network but also on various other platforms such as MoPub, Twitter's mobile ad exchange.
Twitter renamed its advertising service the Twitter Audience Platform. The updated digital marketing platform expands across more partner apps and gives advertisers tools to target audiences more precise. The new advertising tools aim to extend beyond mobile app installs with tweets engagements and video views.
According to reports, in the past years Twitter has struggled to capture a share of the advertising market as big as that of its social media rival Facebook. However, until now Wall Street investors have complained of Twitter's inability to expand its audience and advertising revenue. This issue even led to the resignation in June of Dick Costolo, ex-Chief Executive with Twitter.
According to Dave Spinato, Twitter came with a brilliant concept in the new Twitter Audience Platform. Since people are going to tweet anyway, the new platform leverages on that and allow advertisers to optimize and increase engagement with a valuable segment of customers.
Spinato added that his company achieved an engagement rate 15 times higher than the industry average for campaigns running on the Twitter Audience platform, as well as 70 percent incremental reach.
One of the advantages of the new Twitter Audience Platform it the fact that it allows marketers to promote tweets into several additional ad formats. For example, promoted video campaigns can be transformed into in-app video ads or tweet engagement campaigns can be transformed into native and interstitial ads.
Eric Farkas, Twitter Product Marketing Manager, wrote that he could witness brand advertisers running campaigns across both the new Twitter Audience Platform and Twitter lowering their cost per engagement by as much as 30 percent and doubling their reach. The company considers that its revised platform will reach more than 700 million people on and off Twitter.
