The microblogging platform, Twitter, is putting in significant efforts to win back the advertisers, who left the platform, with freebies such as free ad space worth $250,000. In an email to the advertisers, the social media giant offered a last-minute deal on its high-profile and big-game ad packages, according to the latest BNN World News.
The Super Bowl pitch by Twitter will help it win over ad agencies and advertisers to its platform. Its efforts are expected to work with the advertisers because they depend heavily on Twitter to improve their buzz and reach customers.
Innovative tools and cheaper ad rates persuade advertisers
VaynerMedia’s EVP, Nick Miaritis, said it is a moment for Twitter. With its Super Bowl pitch, advertisers’ attention is shifting entirely to its platform. The introduction of innovative tools, combined with lower ad rates, is influencing several brands to return to Twitter to generate buzz. According to ad buyers, brands can use Twitter’s new tool to create a list of up to 1,000 words. It also prevents the appearance of their ads below or above the tweets containing those words.
According to information gathered from people well aware of this matter, a financial services and beverage company began advertising on Twitter. In contrast to this claim, ad buyers say a considerable influx of ad agencies and brands returning to Twitter has not been seen.
A peek into the email sent by Twitter shows it started offering a weekend Super Bowl ad package worth $250,000 with a validity of three days. The advertisers can utilize this free ad space to display their video ads before showcasing NFL highlight clips. In a similar effort to entice ad agencies back to its platform, Twitter introduced free ad space on ad campaign tweets in January 2023.
According to a report from The Journal, Super Bowl Sunday is the biggest day of the year for this microblogging platform in terms of ad revenues. Twitter generated ad revenues of $35 million from the Super Bowl weekend, which comprises Saturday, Sunday, and Monday. According to people acquainted with the finances of Twitter, Sunday accounted for the majority of the company’s revenues on Super Bowl Sunday.
Several brands paused ad spending on Twitter
After Musk acquired Twitter in October 2022, several advertisers like General Motors Co., United Airlines Holdings Inc., and Pfizer Inc. paused ad spending on Twitter. The brands also expressed apprehension about Musk’s content moderation approach and felt that their content may end up close to the controversial content. In 2021, ad revenues accounted for 90% of microblogging sites’ $5.08 billion.
According to conversations with several brands, ad agencies are considering returning to Twitter. In an email cited by a journal a few weeks ago, Twitter said around 30% of advertisers returned after pausing their ads after Musk took over.
According to information collected from the top US news websites, over 70% of top ad spenders, who spent before the takeover by Musk, are not spending on the microblogging site platform as of January 29, 2023.