Twitter is very influential in the news world. Stories often break and and new details constantly emerge from the millions of tweets going out every day. In the financial world, however, Twitter doesn't hold a candle to larger social platforms such as Facebook, or even LinkedIn.
With the popularity of Twitter still growing, it would seem the company is overdue for a Facebook-style IPO, but the company has struggled in the past to monetize its service. Sure, Twitter now has promoted tweets and ads, but most of its members access the service from mobile devices. Mobile advertising it still a relatively new and unreliable marketing scene, meaning mobile ads are often much less expensive than those for websites. Twitter, though, charges the same rates for mobile or web ads, and it was revealed earlier this month that Twitter is already making more from mobile than the web, and it has begun to aggressively expand its advertising reach.
The Wall Street Journal is reporting today that Twitter may be turning a corner on its revenue woes. It cites the case of P.F. Chang's, the Chinese-American Fusion restaurant chain, which it says recently converted its entire Twitter ad budget to focus on mobile. The key, and what surprised P.F. Chang's the most, was how often Twitter users interact with mobile ads. The Wall Street Journal quotes Jason Miller, digital content and community manager for P.F. Chang's, as saying the results were "staggering." Miller admitted that Twitter on mobile might not be best for highlighting brands, but speculated that "time-sensitive" ads work well on the platform
Other social platforms, such as Facebook and LinkedIn, have only just begun to experiment with mobile ads. Advertisers have, thus far, been less than impressed with Facebook's new long-term plan of mobile monetization, though Android Facebook users seem to enjoy it. LinkedIn, which is known for its careful planning with regards to its revenue sources, is only trying out mobile ads on its newer iPad app, and only with Cisco and Shell.