Earlier this week we documented comments made by Twitter’s director of revenue Adam Bain (@adambain) about the growth of Twitter’s advertising platform. Now, in a follow-up piece at Clickz.com, Bain has expanded on the success of the network’s marketing tools, and how Twitter is working closely with major advertisers en route to building its US sales force.
The article also reveals that the cost of a Promoted Trend on Twitter – the top Trend that you see on your sidebar on Twitter.com – is now up to a heady $120,000 per day. Quite a leap from the $25-30,000 daily rate that was billed when Promoted Trends first launched back in April 2010.
According to Bain, Twitter has now worked with some 600 advertisers on 6,000 advertising campaigns, and eighty per cent of those came back and bought more placement. Twitter’s promotional tools have been so successful that the company has expanded its sales and marketing team to over 60 people across the country, with staff now located in New York, San Francisco, Chicago, Austin, Boston, Atlanta, and Los Angeles.
Twitter now seeks a 3-month commitment from all advertisers, and income floods into the business from global brands such as Samsung, HBO and Toyota, all of which have recently utilised Promoted Trends, but Twitter hopes to target smaller companies as well. The minimum spend for any client is $15,000. Multiply that over 6,000 campaigns and that’s at least $90 million in revenue.
Bain maintains that Twitter affords advertisers higher engagement levels than those received on similar campaigns on Facebook, or with standard display banners. “You’re just in the sea of trying to catch people through media impressions when they’re on different sites across the web,” he says.
Moreover, Bain is extremely bullish on the brand value of another of Twitter’s marketing tools – Promoted Accounts.
“Paying $4 for a follower is a pittance because the ROI is insane,” he says. “Once they have a follower, they can keep marketing to that guy as many times as they want without worrying about where they are across the web or what kind of mindframe they’re in.”
Which makes it sound awfully similar to a like on a Facebook page. Time will tell if Twitter’s products are anywhere near as successful, or able to equally penetrate the public consciousness, as well as Mark Zuckerberg’s oh-so clickable little button.