US-based microblogging platform, Twitter has launched new advertising features and revamped its algorithms that decide which ads users see, in a bid to launch future eCommerce services.
The new features are debuted in line with Twitter’s efforts to expand its display advertising business, a strategy that aims to generate sales quickly, and accounted for just 15 percent of the microblogging platform’s business in 2020. The effort could help Twitter reach its goal of doubling annual revenue by 2023.
Twitter is placing itself to eventually enable products to be sold through the platform 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. Ultimately, this will drive people to install apps, visit websites, and find products that meet their needs,” Mr. Kamra Benjamin, group product manager at Twitter.
Twitter, in its blog post, stated that 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. Earlier users had to leave the platform to download other apps.
The microblogging platform stated that it is working on new tools to help companies find customers who are more likely to make in-app purchases. Slideshow ads containing multiple products can now send users to different websites when they click on the ad, whereas earlier brands could choose only one destination. Twitter revealed that it increased the number of clicks on ad campaigns that target website visits by 25 percent.
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 measure user interest and it led to a 36 percent surge in ad campaigns that achieved at least five downloads during the time period the ad ran on Twitter.