Twitter just added a couple of new features to conversion tracking for web. Advertisers can now take advantage of support for transaction values and key conversion tags.
The former lets advertisers view the sales that their Promoted Tweet campaigns drove.
"If you’ve implemented our website tag already, you can make some simple changes to the tag to start collecting conversion values and order quantities for each conversion," says product manager Abhishek Shrivastava. "These values are aggregated and reported back in your Twitter Ads analytics dashboard to provide insights on your ROI from your Promoted Tweet campaigns. If you aren’t using conversion tracking yet, it’s easy to get started by creating a tag in your Twitter Ads UI and implementing it within your site."
"Over the last several months, we’ve seen positive results from advertisers who have tested the transaction values feature in beta," says Shrivastava. "One is @WavesAudioLtd, which found that it’s shedding new light on the business results they are driving with Twitter Ads. Waves Audio provides audio solutions for the professional, broadcast and consumer electronics markets. In the 30 days from mid-December through mid-January, Waves Audio built New Year holiday excitement on Twitter with special promotions on software plugins for sound engineers. The Waves Audio team used Twitter’s website clicks or conversions objective and targeting such as interests and tailored audiences to drive high-intent site visits."
— Waves Audio (@WavesAudioLtd) December 31, 2014
According to Twitter, that account's analytics now show a 770% return on advertising investment from Twitter ads from that period.
They share a quote from Waves’ Online Marketing Manager David Corman: “We’re very pleased with our return on investment in Twitter Ads. We’re able to develop strong relationships with a community of audio enthusiasts on Twitter, and the recent enhancements to Twitter’s analytics and measurement are helping us refine our outreach for maximum effectiveness.”
Twitter said Live Nation was able to achieve a a return on ad investment of 819% during a testing period while using a website card.
Advertisers can use the new key conversion tag to choose one conversion event for the campaigns they want to optimize, and view "distilled" analytics within the Twitter Ads interface.
"Suppose a flower shop wants to use Twitter Ads to drive more sales of their Easter bouquets," says Shrivastava. "Once the shop places a website tag on the final conversion page for the bouquet and selects that tag as the key tag for their campaign, Twitter can automatically start to optimize the campaign towards driving more conversions on the bouquet sale page. The shop will also have the ability to view the number of bouquet purchases in their Twitter Ads analytics dashboard, as soon as those conversions occur. Because Twitter conversion tracking works in a cross-device fashion, even if a user sees the flower shop’s ad on a mobile device but later converts on a desktop, Twitter Ads analytics will be able to track and report that conversion."
This is all now available to all Twitter advertisers globally.
Earlier this month, Twitter launched Quick Promote for advertisers to promote their best performing tweets from the Tweet Activity dashboard.
This is available to all SMB advertisers.
Twitter also announced syndicated promoted tweets this month, which see Twitter ads appearing on third party sites. This started with launch partners Flipboard and Yahoo Japan. We recently spoke with the CEO of The Mobile Majority, who thinks this will be detrimental to ad creativity. More on that here.
Images via Twitter