People have always asked two questions with relation to Twitter: How can Twitter make money? And can I promote my business on Twitter? Twitter Co-founder Biz Stone answered both these questions today and announced the official launch of “Promoted Tweets” – the paid advertising program by Twitter. “Promoted Tweets” has been launched to first display ads in search results and later in the feeds of individual user accounts. These ads will also be promoted on Twitter based third party sites like TweetDeck, twirl, TwitterBerry and Tweetie.
Co-founder of twitter Biz Stone announced that, “We are launching the first phase of our Promoted Tweets platform with a handful of innovative advertising partners that include Best Buy, Bravo, Red Bull, Sony Pictures, Starbucks, and Virgin America — with more to come. Promoted Tweets are ordinary Tweets that businesses and organizations want to highlight to a wider group of users.”
Twitter has slowly become one of the most popular sites on the internet, in 2009 Twitter had 75 million users on its site. Currently, it has become one of the most talked about social networks and micro-blogging sites. From trends to news twitter leads the industry in many ways. Twitter’s paid advertising program has been launched just in time for the AdAge digital conference and the Chirp conference hosted by Twitter.
AdAge provides further insight into the launch of “Promoted Tweets” and gives a synopsis of Twitter’s Chief Operating Officer Dick Costolo’s statement. AdAge reveals that, “Unlike search ads on Google, Bing or Yahoo, there will only ever be one Twitter ad displayed at a time. Marketers will be able to use them to start conversations, such as Starbucks’ “Tell us something a barista did to make your day?” Starbucks could buy keywords to keep its question atop a search that turns up those results. Film studios could use promoted tweets to get the word out before opening weekend, and then to participate in the dialog about the film after opening night.
Twitter is rolling out promoted tweets slowly over the course of the year; initially on Twitter.com, and then to Twitter clients, which can include the ads and get a cut of the revenue. Ultimately, Twitter could syndicate results to Google or Bing, though no deal is close to making that happen.”
“Promoted Tweets” seems like a great opportunity for both businesses and consumers. With this new business model Twitter can help filter unnecessary and random tweets, giving businesses a chance to reach out to a greater audience. Before this both Facebook and Linkedin have individual paid advertising programs on their sites to help businesses get more exposure.