Twitter has finally started to monetize its business. The social networking giant today launched Promoted Tweets, a program that lets advertisers bid on keywords on a CPM basis. The ad shows up in a related search, but remains fixed so it doesn’t go away when more Tweets appear. Users will only see one Twitter ad at a time – and the Promoted Tweet will act like a regular Tweet – you can reply to it, retweet it and make it one of your favorites.
Here’s an example of a Promoted Tweet from Starbucks:
The marketing world has been after Twitter for months now to monetize its platform. And now that it has, critics are already saying it’s too conservative since there’s a feeling companies can get the same results merely by Tweeting to their followers.
In fact, Starbucks isn’t sure what it will gain either. In an article in PC World, Starbucks representative Brad Nelson admitted, ‘We’re curious as well. For us, it’s all about giving people the right answers and being relevant when they search.”
Meanwhile, a recent survey by WebBizIdeas.com found that 68% of businesses believe pay-for-performance ads on Twitter would provide the greatest value for them.
What do you think about Promoted Tweets? Will you use them for your business? Or are they just too little, too late?