Trying new things can be scary, and when there’s money on the line this can increase the chill factor. Twitter advertising is one of those tasks that might seem daunting and confusing at first, but once you get to know what’s going on behind the scenes, you’ll be sorry you didn’t get to grips with it sooner.
The key thing to remember about Twitter is the huge advertising potential on offer; by 2014 it has been predicted that Twitter ad revenue will top $1 billion. Although it would still be lagging behind Facebook’s $3 billion in 2011, the growth of Twitter looks promising as they confidently take to the mobile market more successfully that Facebook.
If you’re running a small business, you may be wondering if Twitter is even an option on your budget. Fear not, Twitter has advertising options specifically geared towards smaller businesses that want to increase their reach and following. Check out this recipe for small business success on Twitter:
There are two options available to small businesses: Promoted Accounts and Promoted Tweets.
Promoted accounts will show up in the “who to follow” section. This will aim to push your account to users with similar interests. This is similar to Facebook advertising. You can hone in on specific geographical locations, or by user platform (such as mobile only).
With promoted tweets, twitter will monitor your engagement with your followers and automatically promote your most popular tweets to potential followers based on mutual interests. This is a great way to not only monitor the success of your tweets, but to also push your most engaging 140 characters in front of a wider audience.
Twitter Advertising Analytics
As you can see from the screenshot, the analytics on offer are fairly extensive and will give your business a unique snapshot of your followers. This can help in targeting tweets, business development, and for future advertising budgets.
The pricing system for small businesses works on a CPF (cost per follower) and CPE (cost per engagement) so you’re paying for results, rather than paying to be seen by all the wrong people.
The pricing is based on an auction system, so it’s difficult to find a definitive price scale. According to Search Engine Watch a good estimate guide bid is between $0.50 and $2.50.