Twitter on Tuesday rolled out new advertising features and revamped algorithms that decide which ads users see, the social networking company told Reuters, laying the groundwork for launching future e-commerce features. under attempt to.
The new features come as Twitter is pushing to grow its display advertising business, a strategy that aims to generate sales quickly, and last year accounted for just 15 percent of Twitter’s business. The effort could help Twitter reach its goal of doubling annual revenue by 2023.
The San Francisco-based company is positioning itself to eventually allow products to be sold through the service by improving its ability to show users contextual ads and increasing the likelihood they’ll click on the ad.
“Display advertising is a huge opportunity … it’s relatively untapped for us,” Kamra Benjamin, group product manager at Twitter, said in an interview. “Ultimately, this will drive people to install apps, visit websites, and find products that meet their needs.”
Ads promoting downloads for mobile games and other apps, which are a major type of ad on social media sites, will now allow users to initiate downloads without leaving the Twitter app, the company said. blog post on Tuesday. Earlier users had to leave Twitter to download other apps.
Twitter said it is working on new tools to help companies find customers who are more likely to make in-app purchases.
Slide-show ads featuring multiple products can now send users to different websites when they click on the ad, whereas earlier brands could choose only one destination. The company said this resulted in a 25 percent increase in the number of clicks on ad campaigns that target website visits.
Benjamin said Twitter has also improved the advertising algorithm, showing ads to a larger pool of people at the start of the campaign so it can better understand user interest.
The company said those algorithm improvements led to a 36 percent increase in ad campaigns that achieved at least five downloads during the time period the ad ran on Twitter.
© Thomson Reuters 2021