Twitter announces a new shopping feature called Product Drops (Score 22)
Twitter recently launched a new shopping feature called Product Drops. This will allow brands to preview new products before they go on sale. Twitter users will be able to select a "remind me" option at the bottom of the tweet that will sign them up for a reminder 15 minutes before the product is released. The notification will prompt users with a "shop on website" button, which will allow them to purchase products directly from the brand's website. It is testing the feature with notable brands such as Dior, Fossil, Home Depot and LEGO. It is currently only available for iOS users located in the US. We told you about Elon Musk's plans to purchase Twitter earlier this year, but the deal has still not been finalized.
According to Pathmatics, Twitter earned 20.5m impressions YTD through Facebook ads (71%), mobile display ads (20%), Instagram ads (6%) and desktop display ads (3%). It placed the majority (82%) of these ads directly onto sites such as facebook.com, instagram.com, adage.com, lipstickvalley.com and creativity-online.com. It placed the remainder (18%) of these ads indirectly through Google AdX+AdSense and The Trade Desk onto sites such as weather.com, mydramalist.com, tmz.com, hometalk.com and thedelite.com. It spent around $119.3k on digital display ads YTD, a 17% decrease from $144.3k spent in this channel during the same time period of 2021. Full-year spend jumped 76% from $212.3k in 2020 to $374.3k in 2021.
Per iSpot, Twitter spent around $22.1k on national TV ads in 2021, a significant increase from $900 spent in this channel during 2020. In 2021, it placed ads during programming such as 2021 WNBA Finals, WNBA Basketball, Grand Prix, Court TV Live and Jeremiah Johnson [Movie]. It has not allocated any budget toward this channel YTD.
Sellers-- Twitter mainly targets millennials and Gen-Zers through digital display ads. YTD digital spend is down after it ramped spend up in 2021. It airs national TV ads from time to time, but considering its target audience, digital ads likely provide a much better ROI. It also invests in OOH, print and local broadcast TV ads, per Kantar. It may increase spend to promote the new Product Drops feature. Sellers should reach out to offer ad space.
Agency & martech readers-- To the best of my knowledge, Twitter works with PR/social AOR Golin and media buying/planning shop Buntin Group, with an in-house creative team. I recommend offering project-based assistance for the best chance of picking up any of Twitter's business.