choose a specific tweet or series of tweets that you want to promote to your target
Twitter is still trying to figure out its business model and how to turn a profit. But they have begun the process of monetizing their platform. Currently, there are 3 advertising products that are available to all advertisers (sort of). Promoted tweets, promoted accounts, and promoted trends. Promoted trends are for brands with large budgets as it can cost $200,000 or more to promote a trend for 1 day. That rules out most small brands and orphan drugs. However, the more reasonable advertising vehicles are promoted tweets and accounts.
Using Promoted Tweets
You can further limit your targeting by device, gender, and geographic area. Similar to Facebook, you then have the option to set a daily budget and/or total budget.
The promoted account advertising vehicle would be more appropriate for brand awareness to gain more followers. The targeting is a little more limiting as it only allows for targeting based on Key Influencers, interest categories, and tailored lists. It should also be noted that the cost per engagement can be 5 times higher on Twitter than Facebook. But for patients, consumers, and customers who are valuable to a given brand the increased cost may be tolerable.
More Products to Come
Twitter has also recently announced that they will be implementing up to 15 more advertising products in the coming weeks to months. Twitter has been testing various inline buttons that allow people to engage with an ad without leaving Twitter or leaving for a short time and automatically being redirected back to Twitter. For example, there is a tremendous amount of interest in a “download now” button to enable someone on Twitter to download an app directly. The same concept can be applied to a “click to call” and “buy now” button.
These new advertising formats will be launched in the coming months, but depending on your online advertising goals and budget, now may be the time to start considering Twitter for advertising.