Dive Brief:
- Following a small beta launch in August, Twitter has rolled out its objective-based ad program globally to all ad partners.
- The objective-based campaigns were originally developed for SMB and ad API partners to allow them to pay attention to goals specific to their needs like increasing followers, driving more clicks or pushing more app installs.
- Advertisers will only pay for engagement such as website clicks, conversions, app installs and video views, and Twitter says the effort will help advertisers cut costs and improve campaigns.
Dive Insight:
Despite vigorous efforts to introduce new ad products and drive user growth -- including autoplay video ads, a homepage redesign, carousel ads, and profile ads -- Twitter still continues to fall short of revenue goals including Q1 expectations. With Twitter's objective-based ad programs now available to all advertisers, the company stands to see a rise in advertisers willing to pay buffet-style for these objectives.
In fact, in Twitter's blog post on the news, it cited examples of companies already using the service. One digital agency, Gupta Media, has seen a 24% conversion rate for its music industry campaigns, which is double the average it is seeing on other platforms.
