By Adedapo Adesanya
As part of efforts to improve commercial advertising, Twitter announced three new products that will further advance its optimization models, conversion options and measurement solutions.
In a statement, the platform said, “We are excited to share that the new and improved Twitter pixel, conversion API and in-app purchase optimization are launching globally for all Twitter advertisers. . We’ve worked hard since our last update and have now reached an important milestone that adds value on top of the measurement and optimization solutions we launched earlier this year.
The new Twitter Pixel is a measurement solution that enables conversion tracking, the backbone of performance advertising and will allow advertisers to measure their return on ad spend by tracking the actions people take after seeing, clicking or interacted with advertisements on Twitter.
Twitter Pixel will help improve web attribution, allowing advertisers to measure more actions than before, such as when someone adds an item to their digital shopping cart.
It will also facilitate measurement setup and troubleshooting to help advertisers better understand the impact of their web campaigns and provide clearer assistance when checking to see if the Pixel is being implemented correctly.
The Conversion API (CAPI) is a measurement solution that allows advertisers to connect to Twitter’s API endpoint and send conversion events to Twitter from their servers without using third-party cookies.
This will allow it to improve value for businesses while meeting our commitments to privacy and security by relying less on third-party cookies.
CAPI will also help improve ad optimization and targeting without the need for a Twitter pixel, which is the first time an advertiser can finally connect data to see conversions without placing a tag on their site. Several data signals with the Conversion API (CAPI) can be used, including Twitter click ID or email addresses to send conversion events to the API endpoint and help advertisers better understand the actions people take as a result of their ad.
Meanwhile, optimizing app purchases will improve performance. It will allow advertisers to serve ads to people most likely to install an app or make a purchase by using machine learning to identify audiences most likely to take an action.
In early testing, Twitter via its internal research said that 89% of advertisers saw a reduction in cost per purchase, a median 30.4% decrease in cost per purchase compared to optimizing install during using pay-per-click, and a median 12.8% decrease in cost per purchase compared to optimizing install when using pay-per-view.
Looking ahead, the company said it aims to create a more efficient performance advertising business, adding that “we are increasing our investments in various initiatives, including updates to our optimization models, conversion options and measurement solutions”.
“As we continue to develop our performance roadmap, we are excited to continue driving value for our customers with upcoming product launches, such as Collection Ads, which will be a new way for advertisers to tell stories. stories and showcase their products to consumers. He said brands can also display a main hero image with smaller thumbnail visuals. Each image will lead consumers to a different website or product landing page, meeting various advertiser objectives,” he said.
Additionally, it looks at web conversion optimization which will help improve how it reaches the people most likely to convert on a lower funnel website action like making a purchase or adding an item to their cart and Dynamic Product Ads, which will dynamically deliver relevant products to the right person at the right time based on their activity on and off Twitter to drive sales or conversions.