Dive Brief:
- Marketers want ROI and business performance results from their efforts and Twitter is meeting that need on its ads with a new metric called conversion lift.
- Advertisers on Twitter have complained about a lack of performance tracking and the new report should alleviate some of those concerns.
- Twitter calculates conversion lifts by comparing a test group that sees the ad against one that does not see it, and compares incremental lift for the campaign by comparing conversion rates for the two groups.
Dive Insight:
Marketers who want performance metrics on Twitter ad campaigns have a new report that addresses that need. The report is called conversion lifts and provides advertisers with a calculated metric on ad business results such as app installs and product sales. Conversion lifts is calculated by testing two groups of users – one that see the ad and another that doesn’t see the ad – and compares conversion rates between the two.
Twitter has been testing conversion lifts in beta, and reports that users who are just exposed to promoted tweets convert at 1.4 times people who don’t see the tweets, and people who engage with promoted tweets convert at 3.2 times the control group on the advertiser’s website.
"To help our advertisers consistently gauge the impact of ad exposure across devices, we're introducing conversion lift reports – a custom data-driven report designed to help you better understand the impact your Twitter Ads campaigns are driving toward your bottom line," Abhishek Shrivastava, Twitter's group product manager, revenue, wrote in a blog post regarding the release.
In other recent news, Twitter began testing "Promoted Moments" that will allow marketers to tell stories in multimedia format.
