Twitter Raises Price Of Promoted Trends To $200,000
Twitter seems to be having some success with their “Promoted Trend” marketing feature, as they have raised the price of the service from $150,000 to $200,000.For $200,000 (£127,600), a company can have their preferred message on top of one territory’s trending list on the Twitter homepage for a whole day. The promoted trend service can be used to effectively advertise a new product, or raise brand awareness on Twitter.
The $200,000 dollar price tag represents an 150% increase from the original $80,000 – the value of a promoted trend when the service was launched in 2010.
The price increase is due to the service’s popularity, the service’s popularity is due to its success and the service’s success has been well-documented in case studies on the Twitter business page.
Absolute Radio, Cadbury and LG are three of the companies that Twitter has mentioned in its case studies. Each one has had success using promoted trends to raise their profile on Twitter.
Absolute Radio used the promoted trend #nowplaying, an already popular hashtag on Twitter, to advertise their “Faces For Radio” campaign. The promoted trend was tied in with a twitter competition: every hour for 24 hours one lucky entrant won £250 if they tweeted whichever song was playing on the radio to @AbsoluteRadio using the #nowplaying hashtag.
During the campaign, @AbsoluteRadio spiked at 73,000 mentions reaching 23 million people. During the day of the competition, Absolute Radio also saw the number of online listeners increase by 7%.
After their Wispa Gold chocolate bar was discontinued, Cadbury was bombarded with consumer requests to start making it again. In conjunction with their extensive London 2012 Summer Olympics and Paralympics campaign, Cadbury used the promoted trend #WispaGold, asking people to complete and retweet their “I love #WispaGold because _____” message.
After the promoted trend was launched, Cadbury saw an increase of 1,800% in positive mentions of their brand.
To promote their new Optimus L Series phone in the UK, LG launched the @LGTicketHunter competition, offering people the chance to win exclusive tickets to upcoming concerts. Using the promoted trend #LGTicketHunter, the company drove traffic onto a map website. Every time someone tweeted with the #LGTicketHunter hashtag, the map zoomed in on where the LG street team were waiting. The first person to find the team won the tickets.
During the five days that the campaign lasted, #LGTicketHunter was mentioned over 50,000 times and delivered over 20 million impressions.
In each of these case studies, the company has either used promoted trends in conjunction with a competition or as part of a larger campaign, making interactions and mentions more likely. However, it was the fact that each promoted trends was constantly visible on the UK’s Twitter homepage for a whole 24 hours that kept them in the public’s consciousness.
Of course, promoted trends do have their drawbacks. Apart from the astronomical price (which, if the campaign proves to be a success is arguably worthwhile), there have been occasions when promoted trends have been hijacked by the public to decry the company’s that use them, as the buyer has no control over what features on the promoted trend’s page.
One of the most notorious examples of a failed promoted trend campaign is #McDStories, when an ill-advised, self-congratulatory McDonald’s marketing campaign backfired: instead of tweeting reasons why they loved McDonalds, the public used the hashtag to accuse the fast food company of animal cruelty, poor hygiene standards and taking advantage of their customers.
So, how does a company best utilise a promoted trend? Firstly, use it as part of a wider campaign, secondly, reward those who mention it and finally, don’t invite praise if your company has little to be proud of.
Would you pay $200,000 for a promoted trend? Has your company used them before? How successful were you?
Contact us on Twitter or leave your comments below.
Will Sigsworth
Follow us @SocialMediaF & @WillAtSMF
www.socialmediafrontiers.com
Twitter Raises Price Of Promoted Trends To $200,000
Reviewed by Unknown
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Wednesday, February 13, 2013
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Reviewed by Unknown
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Wednesday, February 13, 2013
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Unknown
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