With Twitter, there are a number of advertising options available, each designed to bring a different return; from increasing followers, to engagement and brand awareness.
Tracking the ROI of Promoted Tweets
Marketers using conversion tracking can use Promoted Tweet campaigns to measure sales
Of the three Twitter promotion types (Tweets, trends and accounts), Promoted Tweets have strong abilities to entice clickthrough and conversion as they deliver specific content and offers to users (rather than just promoting an account). This also makes promoted tweets a great way to generate leads, especially when combined with Twittter Lead Generation Cards.
In 2013 Twitter made conversion tracking for Promoted Tweet campaigns available, and earlier this year enhanced conversion tracking with two new tools: transaction values and key conversion tags. The introduction of these two tools means it's possible to track the ROI of Twitter ads right through to conversion on a specific product page, and via a specific device.
Using transaction values and key conversion tags to track ROI on Promoted Tweet campaigns
Both transaction values and key conversion tags allow site owners to view sales driven directly by a Promoted Tweet. Both are available to all advertisers, and both will need you to place conversion tags on your site.
Transaction values allow marketers to view the sales or conversion value that Promoted Tweet campaigns have driven. Those who are already using Twitter’s conversion tags can adjust them to track their sales figures as Twitter's blog explains:
“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. These values are aggregated and reported back in your Twitter Ads analytics dashboard to provide insights on your ROI from your Promoted Tweet campaigns.”
Citing a test of the tool with a Promoted Tweet campaign, Twitter’s Product Manager Abhishek Shrivastava stated that Live Nation drove a return on their ad investment of 819% across a 30 day test period.
Key Conversion Tags
Allowing for better focus, key conversion tags enable optimisation for a particular conversion event, and are designed to show only the conversions you care most about for a specific campaign (full reporting is always available).
This means that you can track and optimise for the conversion of a specific product:
“Once the shop places a website tag on the final conversion page [for a product] 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 [product’s] sale page. The shop will also have the ability to view the number of [particular product] purchases in their Twitter Ads analytics dashboard, as soon as those conversions occur.”
Adding another level to proving your Twitter ad ROI, key conversion also allows tracking across devices:
“Because Twitter conversion tracking works in a cross-device fashion, even if a user sees a 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.”
For more information on how Twitter conversion tracking works, this blog provides great insight. Or, to get started with your campaigns, head to your campaign dashboard.