The social media platform plans to cut back sponsored posts from February.
Businesses can gain promotion from Twitter when they pay to be featured on users’ Twitter feeds, without the request from the Twitter user. However, more businesses are choosing to opt out of these promotions due to the loss of popularity the ads have amongst consumers and Twitter is subsequently losing money.
Antony Noto, Twitter’s COO said; “We are taking a step back and looking to simplify our product and putting our resources behind those products that we think have the greatest probability of success, that can deliver the best long-term growth potential, and that frankly leverage our competitive advantages in a unique way.” (via TechCrunch)
Twitter’s growth has decreased in recent months, according to TechCrunch, due to the ad products falling flat. Twitter’s promoted tweets aren’t what they used to be in 2008, when the platform was founded. With other social platforms competing for promotion ad products, such as LinkedIn and Facebook, Twitter is falling short of making profits like they have done in the past.
Its main competitors Facebook and Instagram have left Twitter with no option to tone down their ad products due to these platforms using ad products to fit a niche audience.
Unlike Twitter, these platforms will only allow this ad product to be placed on your timeline/feed if you have shown an interest in the product/brand/service.
Even with Twitter’s constant significant amount of promotion surrounding this service to their platform, it has caused them more damage than before.
Paid investments on social media can be risky on platforms like Twitter, due to the niche or certain businesses not being well received to Twitter users who discover these ads.