By Adedapo Adesanya
As part of efforts to make business advertising better, Twitter has announced three new products that will further advance its optimisation models, conversion options, and measurement solutions.
In a statement, the platform said, “We’re excited to share that the new and improved Twitter Pixel, Conversion API, and App Purchase Optimization are launching globally to all Twitter advertisers. We’ve been hard at work since our last update, and have now hit an important milestone that creates value on top of the measurement and optimization solutions we launched earlier this year.”
The new Twitter Pixel is a measurement solution that enables conversion tracking, the backbone of performance advertising and will enable advertisers to measure their return on ad spend by tracking the actions people take after viewing, clicking, or engaging with ads on Twitter.
Twitter Pixel will help with improved web attribution such as allowing advertisers to measure more actions than before, such as when someone adds an item to their digital shopping cart.
It will also ease measurement setup and troubleshooting to help advertisers better understand the impact of their web campaigns and provide clearer support when checking to see if the Pixel is implemented properly.
The Conversion API (CAPI) is a measurement solution that enables advertisers to connect to Twitter’s API endpoint and send conversion events to Twitter from their servers without using third-party cookies.
This will enable it to improve value for businesses while maintaining our privacy and security commitments by relying less on third-party cookies.
CAPI will also help improve optimization and ad targeting without the need for a Twitter Pixel, which is the first time an advertiser can finally connect data to see conversions without placing a tag on their site. Multiple data signals with Conversion API (CAPI) can be used—including Twitter Click ID or email addresses to send conversion events to the API endpoint and help advertisers further understand actions that people are taking as a result of their advertising.
Meanwhile, App Purchase Optimization will aid performance. It will enable advertisers to deliver ads to people most likely to install an app or make a purchase by using machine learning to identify audiences that are more likely to take an action.
In early testing of this, Twitter via its internal research said that 89 per cent of advertisers saw a reduction in cost-per-purchase, a median 30.4 per cent decrease in cost-per-purchase compared to Install Optimization when using Click Billing, and a median 12.8 per cent decrease in cost-per-purchase compared to Install Optimization when using Impressions Billing.
Looking ahead, the company said it aims to build a more effective performance advertising business, adding that, “we are increasing our investment across various initiatives, including updates to our optimization models, conversion options, and measurement solutions.”
“As we continue to build upon our performance roadmap, we’re excited to continue to drive value for our customers with upcoming product launches, such as Collection Ads, which will be a new way for advertisers to tell stories and showcase their products to consumers. It said brands can also display a primary hero image with smaller thumbnail visuals. Each image will drive consumers to a different website or product landing page, driving various advertiser objectives,” it said.
Also, it is looking at Web Conversion Optimization that will help improve the way it reaches people who are more likely to convert on a lower-funnel Website action, such as making a purchase or adding an item to their cart and Dynamic Product Ads, which will dynamically deliver relevant products to the right person, at the right time, based on their activity both on and off Twitter, in order to help drive sales or conversions.
Business Post Contributor