Twitter is undoubtedly one of the most important platforms for businesses to engage with their audience. Just take a look at some of these incredible statistics about Twitter:
- Over 330 unique monthly users, an increase over the past year of more than 10 million.
- On average, a Twitter user is more likely to have graduated college.
- On average, a Twitter user is more likely to have an above average income.
- From 2016 to 2017, average cost per engagement dropped by over 50%.
- During the same period, advertisement engagements increased overall.
For a business, this is a perfect storm. Twitter is enormous, still growing, and has a desirable user base. At the same time, it’s becoming increasingly more attractive to advertise directly on the platform. Even if you’re already advertising on Facebook, Google, and other platforms, it’s time divert some resources into Twitter. Here are three things you need to know in order to get started:
1. Understanding the Types of Twitter Ads
There are actually three different kinds of Twitter advertisements, each serving a specific purpose. They all have the potential to be extremely effective when implemented properly:
- Promoted Tweets – this is simply a regular Tweet that is presented to a specific audience. People can retweet, respond, or simply like your Tweet. It shows up right in a user’s timeline among non-promoted Tweets.
- Promoted Accounts – this is when your entire account is presented to an audience in order to encourage them to follow you.They will be shown right in a user’s timeline, and also under the suggested ‘Who to Follow’ section.
- Promoted Trends – this is used to promote a specific hashtag to an audience. Under Twitter’s Discover tab, there is a section with trending hashtags. This allows your hashtag to appear there.
It’s easy to think of ways that each ad can be useful. Tweets can be presented to users with videos, pictures, links, or anything you can think of. If you’re a local business, you can target a specific geographic region to encourage people nearby to follow your account. If you’re having a specific sale or event, you can use the trends to ensure you get as much exposure as possible.
2. Narrowing Your Audience
Like Facebook, Twitter allows you to really drill down into your audience’s information, both demographic and beyond. For example, you can target specific countries, states, or even zip codes. You’ll be able to target gender, age, language, and even device or platform.
Perhaps most interesting is that you can really dive deep into somebody’s interests. You can target people based on the types of brands that they follow, what they like to do, or even what types of music or TV shows they’re Tweeting about. If you want to target people Tweeting a specific keyword, you can do that, too.
This is incredibly powerful. If a popular TV show is running a season finale, you can create a specific Tweet to appeal to those viewers and target them accordingly. If it’s a niche show, book, band, etc., that’s even better. You can be sure that most companies won’t be targeting them specifically, so your ad is certain to make them stop and take a look.
3. Setting Your Budget
Twitter, much like other digital advertising platforms, is based on an auction-style system. You’ll set your budget and how much you want to bid for a specific target audience. In this way, it definitely pays to be niche. Unlike other digital platforms, however, you cannot pay per impression. Instead, you’ll pay only for engagement. On average, you’ll pay $1.35 per Promoted Tweet (engagement counting as a Retweet, Favorite, Share or Reply), and between $2.50 and $4.00 per Promoted Account (counting as a confirmed follower). If you’d prefer to set it and forget it, you can take a look at their subscription-based model, too.
Promoting a trend, however, is much costlier. It provides an amazing amount of exposure and absolutely guarantees you’re going to get a lot of attention on Twitter. It sets you back $200,000 per day, though, so you’ll need a massive budget and a real reason to move forward with it.
In the end, Twitter advertisements offer an incredible opportunity to expand your brand and are relatively simple to set-up and manage.