New insight into Twitter’s ad program, officially dubbed Promoted Products, shows that the auto industry is one of the largest single industries gobbling up Promoted Tweets, Trends and Accounts: it alone accounted for 12% of Twitter’s revenue in Q1 of this year.
In an interview with Clickz, Twitter’s chief revenue officer Adam Bain shed some light on where Twitter is seeing success with its advertising platform.
Aside from the auto industry, Bain said that the financial sector is a surprise Twitter ad heavyweight, and that the entertainment industry also makes up a significant portion of ad sales.
Bain highlighted the importance of Promoted Accounts, and it does seem like this is the underdog of the three types of advertising Twitter currently offers. Promoted Trends get the most attention, as they’re flashy – they appear for a full 24 hour time period, and nearly all Twitter users will see them. Promoted Tweets come in a close second to Trends – they’re visible whenever someone clicks on a trend or performs a search that a particular Promoted Tweet is associated with.
But Bain stresses the importance of Promoted Accounts for brands looking to get involved with Twitter advertising:
“Promoted accounts are one of the best hidden secrets of the platform. Unlike trends, they’re based on targeting. If the marketer understands the value of a certain type of customer, they can bid really effectively. Each marketer knows how much a follower is worth to them, and once they’ve acquired that follower, brands can keep marketing to them.”
And he gave us some insight into just how much value those advertisers who have come to understand Promoted Accounts place on them: auto advertisers have paid as much as $70 per follower, with the average price for this niche being in the $10 to $40 range. The overall average for all advertisers purchasing Promoted Accounts is under $10.