According to reports, Twitter will provide generous preferential policies for major brands to attract them to advertise on the social media platform.
After Elon Musk (Elon Musk) took over Twitter, many advertisers scaled back their ad spending because they were worried about his content review policy. This move hopes to change the previous decline.
Twitter said in an email to advertising agencies that the company will launch “the largest advertiser incentive program ever” in December, and will reward additional exposure if advertisers spend a certain amount.
Advertisers who spend between $500,000 and $1 million on Twitter will receive matching bonuses, the email said. A $350,000 ad campaign will receive a half bonus—an extra half of the impressions you’ve already purchased. Advertisers who spend $200,000 will get a quarter bonus.
Twitter also offered the same offer to U.S. brands in an email to another ad agency, with slightly tweaked offers for brands in the U.K. and elsewhere.
Musk completed the $44 billion acquisition of Twitter in October this year. But his subsequent series of measures alienated major brands and advertising companies, including relaxing content review, restoring violating accounts and laying off 50% of employees (including a large number of sales staff).
Advertisers including United Airlines and General Motors have stopped advertising on Twitter, while ad companies such as Omnicom Media and Interpublic Group have also recommended that clients pause, taking a hit on Twitter’s $5 billion business.
To complete the acquisition, Musk saddled Twitter with $13 billion in debt, with annual interest of up to $1 billion.
Emails show that Twitter’s latest promotional offers will last until the end of December, and they also invite major brands and advertising agencies to communicate by phone.
Currently, Twitter has not commented on this.
Musk, who calls himself a “free speech absolutist,” allows people to say anything on Twitter as long as it complies with the law. However, “negative/hate speech” will not be boosted by the system. The company has moved away from prioritizing disinformation related to COVID-19, but said in a tweet on Wednesday that its policy has not changed and that its trust and safety team remains “strong and well-resourced.”
For companies that have reduced their advertising spending on the Twitter platform, Musk will even personally call their CEOs to reprimand them. For example, as one of Twitter’s largest advertisers, Apple CEO Tim Cook (Tim Cook) was publicly called out by Musk on Monday for reducing Twitter advertising spending.
People familiar with the matter said that after several rounds of layoffs and resignations, Twitter’s advertising business team has shrunk significantly, and many advertising companies and brands have even been unable to find docking personnel. There have also been complaints that Twitter’s advertising system has also become laggy and difficult to use during Musk’s overhaul.
While Twitter’s promotion was generous, some brands weren’t tempted, according to people familiar with the matter. An executive at an advertising agency said the move “will not affect advertisers’ decisions.”
“It reminds me of the guy who played the violin on the Titanic,” said another agency executive. “I don’t think any client would take the risk.”
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Event Tracking
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