Amid the general chaos and furor of Elon Musk’s controversial Twitter takeover, it would seem the inflammatory billionaire is eager to attract more brands to the platform, after Twitter was reported to have suffered a drop in revenue caused by advertisers pausing their campaigns.
The platform recently detailed a range of updates to ad targeting options. The Website Conversions Optimization system will allow advertisers to directly target key demographics and consumers who are more likely to follow an ad and take further action such as making purchases, subscribing, or registering with an online service.
The system uses advanced algorithms to identify these demographics, allowing brands to “target with greater relevance, reaching people most likely to meet your specific goal – at 25% lower cost-per-conversion on average, per initial testing.”
Twitter is also rolling out Dynamic Product Ads, which display relevant products and services to customers based on their specific behavior. Collection ads have also been launched, which is a new advertising format featuring one primary image with smaller, scrollable thumbnails below it.
While these updates have been in development, their launch seems to be an indication that Musk is desperate to make up lost revenue as businesses reacted to his unpredictable behavior.
