Twitter Announces Two New Conversion Tracking Features For Marketers

Twitter has announced two enhancements to its ad conversion tracking tools to provide marketers with more insight into ROI from Twitter campaigns.

The two new features, “transaction values” and “key conversion tags”, allow website owners to see sales that were directly driven by Promoted Tweet efforts, and are available globally to all advertisers. Both of these features require placement of conversion tags on websites, which had previously been used for remarketing purposes.

Twitter product manager, Abhishek Shrivastava, explained in a blog post that the tags can be adjusted to track sales figures.

“If you’ve implemented our website tag already, you can make some simple changes to the tag to start collecting conversion values and order quantities for each conversion,” wrote Shrivastava. “These values are aggregated and reported back in your Twitter Ads analytics dashboard to provide insights on your ROI from your Promoted Tweet campaigns. If you aren’t using conversion tracking yet, it’s easy to get started by creating a tag in your Twitter Ads UI and implementing it within your site.”

Shrivastava wrote that over the last several months, advertisers who have tested the transaction values feature in beta have seen positive results. According to Twitter, the analytics of one of these accounts, @WavesAudioLtd, shows an impressive 770 percent return on advertising investment from Twitter ads during a testing period by the company.

“We’re very pleased with our return on investment in Twitter Ads,” said Waves’ Online Marketing Manager, David Corman. “We’re able to develop strong relationships with a community of audio enthusiasts on Twitter, and the recent enhancements to Twitter’s analytics and measurement are helping us refine our outreach for maximum effectiveness.”

The second new feature, key conversion tags, allow further refinement of campaign measurement, enabling marketers to optimize for a specific conversion event. This feature allows advertisers to view distilled analytics within Twitter’s Ads UI, showing only the types of conversions that are most relevant during a specific campaign. Twitter provided the following example of how it works in its blog post.

“Suppose a flower shop wants to use Twitter Ads to drive more sales of their Easter bouquets,” wrote Shrivastava. “Once the shop places a website tag on the final conversion page for the bouquet and selects that tag as the key tag for their campaign, Twitter can automatically start to optimize the campaign towards driving more conversions on the bouquet sale page. The shop will also have the ability to view the number of bouquet purchases in their Twitter Ads analytics dashboard, as soon as those conversions occur. Because Twitter conversion tracking works in a cross-device fashion, even if a user sees the flower shop’s ad on a mobile device but later converts on a desktop, Twitter Ads analytics will be able to track and report that conversion.”