Twitter debuts new ad features, revamped algorithm ahead of ecommerce push – Reuters

A 3D-printed logo for Twitter is seen in this picture illustration made in Zenica, Bosnia and Herzegovina on January 26, 2016. REUTERS/Dado Ruvic/Illustration
Oct 12 (Reuters) – Twitter Inc (TWTR.N) on Tuesday rolled out new ad features and revamped the algorithm that decides which ads users see, as part of an effort to lay the groundwork to launch future ecommerce features, the social networking company told Reuters.
The new features come as Twitter is pushing to grow its performance advertising business, a strategy that aims to quickly generate sales, and constituted just 15% of Twitter's business last year. The effort could help Twitter reach its goal of doubling annual revenue by 2023.
The San Francisco-based company is positioning itself to eventually allow brands to sell products through the service by first improving on its ability to show users relevant ads and increasing the likelihood they will click the ad.
"Performance ads are a very large opportunity … that's relatively untapped for us," said Kamara Benjamin, group product manager at Twitter, in an interview. "Ultimately, this is going to lead to people installing apps, visiting websites and finding products that meet their needs."
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 the download without leaving the Twitter app, the company said in a blog post on Tuesday. Previously, users had to leave Twitter to download other apps.
Twitter added it is working on new tools to let companies run ads to find customers who are more likely to make in-app purchases.
Slide-show ads that feature multiple products can now send users to different websites when they click the ad, whereas previously brands could only choose one destination. This increased the number of clicks by 25% on ad campaigns that set a goal of driving website visits, the company said.
Twitter also improved the advertising algorithm, showing the ads to a larger pool of people at the beginning of the campaign so it can better gauge user interest, Benjamin said.
Those algorithm improvements led to a 36% increase in ad campaigns that achieved at least five downloads during the time period that the ad ran on Twitter, the company said.
Our Standards: The Thomson Reuters Trust Principles.
Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
Major carmakers like Volkswagen , Daimler and Stellantis have been racing to secure battery cell supplies in Europe, but may face a bigger challenge as they seek to go electric – finding enough battery raw materials.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Information, analytics and exclusive news on financial markets – delivered in an intuitive desktop and mobile interface.
Access to real-time, reference, and non-real time data in the cloud to power your enterprise.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2021 Reuters. All rights reserved

source

Leave a Comment