Welcome first-time guest blogger, Bronson Arcuri, a Buzz Builder from our New York office. For the last few years, anyone interested in social media has been wondering when Twitter would finally introduce a business model that would turn their huge popularity into huge profits, and that day may have finally arrived.
Recently, Twitter has added a “Promoted Tweets” feature to their page. So far, the option to promote a tweet has only been offered to a few large corporations like Pepsi-Co and Coca-Cola who still consider this sort of advertising experimental. But, if the results turn out favorably then it’s possible that Promoted Tweets could end up being as popular a form of advertising as sponsored links on Google are.
However, that begs the question; will people be willing to interact with a Promoted Tweet knowing that they’re going to be advertised to? Of course, the same basic question could have been asked of Google some years ago, would people be willing to click on sponsored links, or would they insist on accepting only organic search results. The answer to that is clear to anyone who looks at Google’s quarterly reports.
Twitter COO Dick Costolo has said that during this test run, 5% of Twitter users who saw a Promoted Tweet interacted with it. While this number may seem small at first, it’s still considered large enough for 80% of the companies that have been using Promoted Tweets to re-sign, and according to The Wall Street Journal pay upwards of $100,000 for the privilege.
And even more recently, Twitter has been rumored to be launching “Promoted Accounts” in another step towards the monetization of Twitter. Brands and businesses will be able to pay to be listed in Twitter’s “Who to Follow” feature. This is a strong step towards potentially increasing a brands follower counts and exposure to individual Twitter users.
Until now Twitter has remained a safe-haven for those who wanted to avoid ads. It was inevitable that eventually Twitter would have to do something to turn a profit, but some may feel betrayed none the less. What do you think? Do Promoted Tweets or Promoted Accounts damage the integrity of Twitter? Share your thoughts in the comments!