As some analysts said needed to happen, Twitter Inc (NYSE:TWTR) has taken a step toward differentiating itself from other social networks. The company has launched a new advertising tool which is designed to target conversations about television shows.
Twitter reveals TV conversation targeting
CNET‘s Steven Musil reports that the new feature is called TV conversation targeting. It enables brand names and TV networks to engage with users of Twitter Inc (NYSE:TWTR)’s network while they are conversing about specific television programs. Brands and TV networks use Promoted Tweets to do this, even if they are not currently running an ad through the program, according to Twitter‘s blog post.
Corsair Capital highlighted its investment in a special purpose acquisition company in its first-quarter letter to investors. The Corsair team highlighted FG New America Acquisition Corp, emphasizing that the SPAC presents an exciting opportunity after its agreement to merge with OppFi, a leading fintech platform powered by artificial intelligence. Q1 2021 hedge fund letters, conferences Read More
Twitter backs up new feature with research
The micro-blogging site has apparently done research to see how effective this tool might be before launching it. Twitter Inc (NYSE:TWTR) reported that Promoted Tweets, when paired with television commercials, provided 95% stronger association in messages. It also provided between an 8% and 16% increase in sales. In addition, it cost 36% less to acquire customers than television alone did.
The new feature starts in the U.S. and the U.K. but will soon be rolling out to other countries, including Canada, France, Spain and Brazil.
Twitter partners with TV networks
This new tool is the latest in a series of steps Twitter is taking to partner with television networks. The company is hoping that it can see large advertising revenue by targeting entertainment. Recently Twitter inked a deal with CBS which allows the company to embed clips from some of its television shows right in its tweets.
The CBS partnership is also part of a bigger campaign, the Amplify program. It gives users video clips from its television partners, and those video clips come with short ads. The partners in the program then are able to use Promoted Tweets to target their videos to users who may be most interested in them.