Dick Costolo, Twitter's CEO, recently announced the short-messaging service is now offering its advertising product in 50 new markets, as the company works to expand its presence outside the United States. The new offering will allow companies and organizations worldwide to take advantage of Twitter's local internet marketing capabilities in new cities in Latin America, Europe and the Middle East. The program features three advertising products: promoted tweets, promoted trends and promoted accounts, all of which offer local SEO benefits.
Twitter's advertising product allows users to subscribe to a company's feed through recommendations of its postings to other users. This advertising campaign will now include markets in Brazil, France and Germany. The global expansion is part of Twitter's plan to increase its presence and advertising product worldwide, as the social network continues to report broad-based growth.
Jack Dorsey, the chairman and co-founder of Twitter, said the company is growing rapidly, but is focused on staying patient while raising capital and selling shares to investors. The company is close-knit and wants to make sure all decision-makers are ready to have an IPO before opening the business up to new stockholders. The company's rapid growth as of late has put its executives in a good position to wait until they are comfortable with the business' progress before altering the business model or having to raise capital significantly.
According to Costolo, the demand for Twitter worldwide is rising rapidly. About 60 percent of its users access the social media network via mobile devices, and 80 percent of U.K. users prefer to tweet on tablets or smartphones.
"Growth is still broad-based and global," said Costolo. "We are still growing quite fast month on month in the U.K., Mexico, Spain, Italy, France. Saudi Arabia is our fastest-growing market percentage-wise month on month."
Twitter has been able to transition to a more mobile platform quite easily, helping to meet the rising demand from smartphone users worldwide. One of its competitors, Facebook, on the other hand, is struggling to address the change in consumer behavior. Twitter has launched ads on its mobile platform a few months ago, and has reported significant growth of that product as well. Many days are even producing mobile revenue well beyond non-mobile revenue.
"We were born mobile," said Adam Bain, Twitter's revenue chief. "Tweets are like water, they work whatever you put them through."