It’s no secret that Elon Musk has had his hands full since he took over Twitter officially in November 2022. Musk is making drastic changes that caused many advertisers to rethink their advertising investments with the platform.
Recently, MediaRadar reviewed a sample of Twitter’s US advertising and despite an initial increase in ad investment between April and May of this year, the number of advertisers leveraging the platform decreased from 3,980 in May to a low of 2,365 in August. In October, we observed 2,315 companies buying ads on Twitter.
To help you take advantage of the over $600mm in recently paused Twitter ad investment, we have compiled this list of quick hits of which brands and types of advertisers should actively be pitching now.
1. Target advertisers that have recently Pulled Out of Twitter
An ever-increasing group of top advertisers and media-buying agencies have openly committed to pausing ads on Twitter among concerns regarding content moderation and brand safety, and a lack of clarity regarding advertising leadership at Twitter.
GM, Coca-Cola, and Spotify, who together have invested over $33mm in Twitter ads this year through October, have all decided to “pause” advertising until they learn more about Musk’s content policies.
PG and Havas, and other agencies have also said they are pausing ad buys on the platform. Through October 2022, MediaRadar saw 190 brands that work with IPG (examples: Amazon, MGM, Bank of America) invested in Twitter ads. Clients partnering with these agencies invested nearly $673mm on Twitter ads through October.
MediaRadar has a full list of those brands that have pulled back or completely stopped advertising with Twitter here. These brands are your hottest prospects when it comes to capitalizing on Twitter’s recent downfall.
2. Focus on advertisers that are in categories that are top Twitter Spenders
Twitter is valued by a wide variety of companies. Advertising from the top categories was over $297m through October, but it only represented 18% of the total ad investment on the platform.
Subscription streaming services contributed 9% of total ad spend through September and the majority have announced holds to Twitter budgets.
We also observed insurance providers advertised often with Twitter. Progressive led the pack – advertising 4X more than the next advertiser in the category, Allstate. Entertainment websites had big spenders such as Daily-Stuff.com, Herald Weekly, Kueez, and Parent Influence. Combined ad spend from these sites was over $25mm.
Other highlights include Apple contributing 93% of the Consumer Electronics’ ad spend to promote its new iPhone. Apple actually placed 84% of their paid social spend with Twitter. Musk recently called Apple out on their recent reduction in ad investment on the platform.
3. Select Brands that previously bought Twitter Ads Exclusively
MediaRadar observed 7.1k advertisers that are exclusively advertising with Twitter. From January – October 2022 these brands invested a combined $121mm+.
The majority of these brands fall into top categories of media & entertainment, technology, finance, services, and public services. However, 15% are from other categories, so they won’t already be on your prospect list.
Since these brands only bought Twitter ads previously, they could be looking for new media outlets, but aren’t sure where to invest their ad budget. Now would be a good time to see if you can get a meeting.
As Twitter adjusts to its new ownership and struggles to get its footing in the marketplace, you should target its lost and “paused” advertisers. MediaRadar can show you exactly which advertisers you should target when you should call and what you need to say to get the meeting. Try MediaRadar today and capitalize on this shifting advertising landscape.