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India is one of the fastest growing markets for Twitter: Taranjeet Singh
MUMBAI: Microblogging site Twitter is upbeat about its prospects in India as it considers the country one of the fastest growing markets in the world, in terms of both users and business.
Twitter India country business head Taranjeet Singh, who has been managing the revenue piece for Twitter India for the past six months, said that most brands today want to do business with Twitter.
“It is pretty exciting for us. But there is also a lot of responsibility as we have to make sure to come up with the right solutions and strategy for our clients,” Singh said.
With respect to the business model, he said that Twitter probably has the best native form of advertising, coupled with very strong targeting capabilities.
“When a user signs up, we ask for only email id or mobile number, and we don’t ask for any demographic or personal question. We monitor the kind of content he engages with, the kind of keywords he searches, the kind of people or brands he follows. That makes it very compelling for an advertiser because we know exactly the kind of content interests a user. That makes our targeting capabilities very strong,” Singh explained.
Primarily, Twitter has three forms of advertising—‘Promoted trend’, which a client can buy for a period of 24 hours; ‘Promoted accounts product’, in which a brand or user is focused on building a certain follower base; and ‘Promoted tweet’.
Twitter, which has been seeing over a billion tweets every other day, processes this huge amount of data that signals what consumers are thinking about, what they like, etc. “You can bucket some consumers in a certain way and reach out to them,” Singh added.
Twitter India has been working with Komli Media as its partner for ad sales. Now, Singh is also in process of setting up a dedicated team.
“We are seeing phenomenal growth in India. While we have been working with Komli Media, we are also transitioning a lot of businesses in-house,” Singh said.
“Wherever we have come in directly, we have been able to have far more evolved business conversations with brands, which have quantum leaped the level of growth that any business head or revenue head would aspire to have,” he reasoned.
Singh claimed to have over 600 active brands in India, which he is further looking to scale up. “We are trying to scale up the business and to ensure that Twitter is easily accessible from sales servicing perspective to most of our clients.”
However, he agreed that while some clients have evolved using Twitter and social media, some are just testing the platform.
“My primary objective would be to educate the market on how to use the platform better. There would be various stages of education. Most of the brands today have or want to have a social media strategy. This media is becoming more and more efficient. The cost of acquisition of a new consumer is actually one-fourth,” he added.
How Twitter charges clients
Twitter charges clients on the basis of engagement. The promoted trend is the only thing that is sold at a fixed cost, while everything else is on engagement.
On a promoted account, the client is charged only when a user actually clicks and follows the account. In terms of video, Twitter charges the client only when the video runs for more than three seconds.
Similarly, on a promoted tweet, one gets charged when a user re-tweets or favourites the promoted tweet. “For impressions, we don’t charge. That is how accountable we are. Clients only have to pay for the engagement,” Singh added.
Twitter India recently launched ‘TV Targeting’ in India. The tool has already been present in the US and was first tried out during the World Cup.
“What we have realised from user behaviour is that in India Twitter is clearly becoming the second screen when people watch TV. People tweet or engage with whatever happens on TV,” Singh explained.
He said that Twitter has enabled clients to know who is watching a particular programme and target campaigns based on that.
He said that clients can TV target campaigns based on programmes or just serve the TV campaigns on Twitter to get faster connect with audiences.