Which campaign worked best – and which was most cost-effective? An issue which must be deliberated when running ad campaigns to prove ROI.
In an effort to provide answers to this key question and to entice marketers to spend more of their marketing budget on Twitter, the platform announced the release of a new analysis tool, the “Conversion Lift Report”. It presents an interesting opportunity for advertisers to better establish the success of their ad campaigns and with valuable tips on offer, make informed decisions on how to optimise future campaigns and where best to place their marketing spend.
Abhishek Shrivastava, Group Product Manager at Twitter blogged, “To help our advertisers consistently gauge the impact of ad exposure across devices, we’re introducing conversion lift reports — a custom data-driven report designed to help you better understand the impact your Twitter Ads campaigns are driving toward your bottom line.”
To demonstrate the value of advertising on Twitter, early results indicate that users are 1.4x as likely to convert on an advertiser’s website if they are exposed to a promoted Tweet.
How will it work?
Twitter already offers conversion monitoring for advertisers, but the new analytics tool will provide actionable recommendations to improve conversion efficiency and targeting options to implement for success.
When assessing a campaign through this new resource, the report will randomly divide your target audience into 2 groups – one group of users who will have been exposed to your ad (the test group) and the other group that wouldn’t (the control group). Once your campaign has ended after approximately 2-3 weeks, Twitter will submit a customised report which includes the incremental conversion lift comparing the results obtained from the test group with those obtained from the control group.
A few things to consider if you want to analyse conversion lift:
- The report is available only to advertisers who have a campaign manager, rather than advertisers utilising Twitter’s self-service ad option
- The report cannot be requested retrospectively, once your ad campaign has ended
- To track web or app conversions, ensure conversion tracking is installed before setting up your Twitter advertising campaigns
So make sure to plan ahead if you want to take advantage of the potential of the new tool.