Growing rapidly, with about 200 million registered users and estimated to surpass the 15 million adult users in the US in 2011, Twitter has proved as a very successful venture in the past 3 years. Based on acquisition offers, the company value has increased from $3.7 billion in 2009 to about $10 billion in the closing months of 2010. Yet, the owners are probably not going to sell it any time soon.
Instead, they want to turn Twitter into more profitable website. And the best way to ear money for an internet website is, of course, advertising. Currently, there are three options for advertising on Twitter – Promoted Tweets (that look like normal tweets, but are said to reach not only your followers but a significantly larger crowd), Promoted Trends (advertising at the Twitter home page) and Promoted Accounts (Twitter recommends certain accounts as “worth to follow”).
The problem, however, is that every potential advertiser has to submit an advertising request, which is then reviews by the Twitter staff and is either approved or not approved. The approval process is manual and, as a result very slow. Many small- and medium-sized businesses simply give up, unwilling to wait, and turn to other advertising options – such as Google Adwords and Facebook Ads.
Although Twitter is not going to remodel the advertising scheme completely, it is done the first step, reportedly increasing the “advertising team” to assize of 35 workers (a notable 10% of the company personnel). Their primary task will be to improve response times and also to contact potential advertisers – those who had previously expressed interest in using Twitter in their campaigns.