presentation: video killed the radio star. will mobile kill the desktop?
DESCRIPTION
Mobile has fundamentally changed how people interact with the Internet and influenced media companies and advertisers to shift their business models to leverage the mobile-first approaches of Google, Facebook and Twitter. The proliferation of mobile advertising and commerce will continue in 2014, but will it come at the expense of desktop search engine marketing? Join CRT Capital Analyst Neil Doshi in a look at a proprietary survey of 1,700 Twitter users. He will share recent insights gleaned from the survey that can help brands capture the attention of Twitter's mostly mobile users. PRESENTER Neil Doshi, Managing Director and Senior Equity, CRTTRANSCRIPT
Search Insider Summit 2013Search Insider Summit 2013
Addressing the Mobile OpportunityAddressing the Mobile Opportunity
Neil A. DoshiManaging Director, Internet Research415.762.4880 | [email protected]@neildoshi
Robert J. CoolbrithVice President, Internet Research415.762.4890 | [email protected]
December 11, 2013
For important disclosures, please see slide 52.
Agenda
Overview
CRT’s Online Advertising Forecasts
Twitter – Product Overview
CRT’s Proprietary Twitter User Survey
Page 2
3
PC/Mac
Internet Access Before 2007…
Page 3
Internet Access in 2010…
4
Smartphone
Page 4
Internet Access Today…
5
Smartphone
Page 5
Source: IDC, CRT Capital Group LLC estimates
Growth In Smartphones► 1 out of 7 people in the world will have a Smartphone by the end of this year
► We expect Smartphones to grow around 47% this year and 35% next year
► Android will have dominant share for the forseeable future
► We expect Android share of new units to grow from 49% in 2011 to 81% in 2014
► iOS share should come down, from 19% in 2011 to 14% in 2014
6Page 6
Source: CRT Capital Group LLC estimates, IDC
Growth In Tablets► We expect tablets to grow 50% in 2013 this year to 177M units world wide
► Apple should still have the leading market share at 45%, but Android is gaining
► By 2014, we expect Android to have ~55% market share in tablets
7Page 7
46%
7%
16% 15% 16%
43%
23% 22%
10%
3%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
TV Print Internet Radio Mobile
Time Spent Ad Spend
Ad Spend Allocation vs. Time Spend Across Platform
► Time Spent and Ad Spend are similarly allocated across TV and Radio
► Ad Spend on Print is greater than Time Spent on Print
► We believe Print will continue to be a source of Ad Funds for mobile
Source: eMarketer, IAB, comScore, CRT Capital – across 2012 and 2013
Page 8
Agenda
Overview
CRT’s Online Advertising Forecasts
Twitter – Product Overview
CRT’s Proprietary Twitter User Survey
9Page 9
Online Advertising Outlook
10
► CRT U.S. Online Advertising Forecast 12% CAGR to $57B in 2016E
► We’re Bullish on Mobile Advertising and Select Segments of Display AdvertisingCAGR
($M) 2011A 2012A 2013E 2014E 2015E 2016E 2012-2016Total U.S Ad Revenue $31,736 $36,596 $41,647 $46,708 $51,925 $57,023 12% YoY Change 22% 15% 14% 12% 11% 10%
Search $14,757 $16,944 $19,259 $21,185 $22,879 $24,481 10% YoY Change 26% 15% 14% 10% 8% 7% % of Tota l 47% 46% 46% 45% 44% 43%Classifieds $2,571 $2,379 $2,022 $1,719 $1,461 $1,242 YoY Change -1% -7% -15% -15% -15% -15% % of Tota l 8% 7% 5% 4% 3% 2%Lead Generation $1,555 $1,725 $1,852 $1,963 $2,061 $2,144 YoY Change 19% 11% 7% 6% 5% 4% % of Tota l 5% 5% 4% 4% 4% 4%Mobile $1,587 $3,403 $5,586 $8,100 $10,935 $13,669 42% YoY Change 148% 114% 64% 45% 35% 25% % of Tota l 5% 9% 13% 17% 21% 24%Email $222 $156 $109 $76 $54 $37 YoY Change 58% -30% -30% -30% -30% -30% % of Tota l 1% 0% 0% 0% 0% 0%Display Related Ads $11,044 $11,988 $12,819 $13,665 $14,535 $15,450 7% YoY Change 15% 9% 7% 7% 6% 6% % of Tota l 35% 33% 31% 29% 28% 27%
Banner Ads $6,823 $7,722 $8,511 $9,192 $9,743 $10,230 YoY Change 14% 13% 10% 8% 6% 5% % of Tota l 22% 21% 20% 20% 19% 18%
Rich Media $1,301 $1,116 $837 $603 $422 $325 YoY Change -17% -14% -25% -28% -30% -23% % of Tota l 4% 3% 2% 1% 1% 1%
Sponsorships $1,111 $845 $589 $412 $289 $202 YoY Change 42% -24% -30% -30% -30% -30% % of Tota l 4% 2% 1% 1% 1% 0%
Digital Video $1,809 $2,306 $2,882 $3,459 $4,081 $4,693 19% YoY Change 39% 27% 25% 20% 18% 15% % of Tota l 6% 6% 7% 7% 8% 8%
Source: IAB, PricewaterhouseCoopers and CRT Capital Group LLC estimates
Page 10
Online Advertising Outlook
11
► Display Ad Market: We’re Focused On Select Pockets Of Growth Video, Native, Programmatic
► Online Video Cord Cutting Picking Up Steam, Still Favorable Supply/Demand Dynamics
► Native FB NewsFeed and other “Native” Ad Products Demonstrating Extraordinary Advertiser ROI
► Programmatic Continued Headwinds For Web 1.0 Media (e.g., YHOO, AOL); Some Web 2.0 Publishers (e.g,. FB) & Some Ad Tech Intermediaries (e.g., GOOG) Likely to Benefit
Source: IAB, PricewaterhouseCoopers and CRT Capital Group LLC estimates
CAGR($M) 2011A 2012A 2013E 2014E 2015E 2016E 2012-2016Total U.S Ad Revenue $31,736 $36,596 $41,647 $46,708 $51,925 $57,023 12% YoY Change 22% 15% 14% 12% 11% 10%
Search $14,757 $16,944 $19,259 $21,185 $22,879 $24,481 10% YoY Change 26% 15% 14% 10% 8% 7% % of Tota l 47% 46% 46% 45% 44% 43%Classifieds $2,571 $2,379 $2,022 $1,719 $1,461 $1,242 YoY Change -1% -7% -15% -15% -15% -15% % of Tota l 8% 7% 5% 4% 3% 2%Lead Generation $1,555 $1,725 $1,852 $1,963 $2,061 $2,144 YoY Change 19% 11% 7% 6% 5% 4% % of Tota l 5% 5% 4% 4% 4% 4%Mobile $1,587 $3,403 $5,586 $8,100 $10,935 $13,669 42% YoY Change 148% 114% 64% 45% 35% 25% % of Tota l 5% 9% 13% 17% 21% 24%Email $222 $156 $109 $76 $54 $37 YoY Change 58% -30% -30% -30% -30% -30% % of Tota l 1% 0% 0% 0% 0% 0%Display Related Ads $11,044 $11,988 $12,819 $13,665 $14,535 $15,450 7% YoY Change 15% 9% 7% 7% 6% 6% % of Tota l 35% 33% 31% 29% 28% 27%
Banner Ads $6,823 $7,722 $8,511 $9,192 $9,743 $10,230 YoY Change 14% 13% 10% 8% 6% 5% % of Tota l 22% 21% 20% 20% 19% 18%
Rich Media $1,301 $1,116 $837 $603 $422 $325 YoY Change -17% -14% -25% -28% -30% -23% % of Tota l 4% 3% 2% 1% 1% 1%
Sponsorships $1,111 $845 $589 $412 $289 $202 YoY Change 42% -24% -30% -30% -30% -30% % of Tota l 4% 2% 1% 1% 1% 0%
Digital Video $1,809 $2,306 $2,882 $3,459 $4,081 $4,693 19% YoY Change 39% 27% 25% 20% 18% 15% % of Tota l 6% 6% 7% 7% 8% 8%
CAGR($M) 2011A 2012A 2013E 2014E 2015E 2016E 2012-2016Total U.S Ad Revenue $31,736 $36,596 $41,647 $46,708 $51,925 $57,023 12% YoY Change 22% 15% 14% 12% 11% 10%
Search $14,757 $16,944 $19,259 $21,185 $22,879 $24,481 10% YoY Change 26% 15% 14% 10% 8% 7% % of Tota l 47% 46% 46% 45% 44% 43%Classifieds $2,571 $2,379 $2,022 $1,719 $1,461 $1,242 YoY Change -1% -7% -15% -15% -15% -15% % of Tota l 8% 7% 5% 4% 3% 2%Lead Generation $1,555 $1,725 $1,852 $1,963 $2,061 $2,144 YoY Change 19% 11% 7% 6% 5% 4% % of Tota l 5% 5% 4% 4% 4% 4%Mobile $1,587 $3,403 $5,586 $8,100 $10,935 $13,669 42% YoY Change 148% 114% 64% 45% 35% 25% % of Tota l 5% 9% 13% 17% 21% 24%Email $222 $156 $109 $76 $54 $37 YoY Change 58% -30% -30% -30% -30% -30% % of Tota l 1% 0% 0% 0% 0% 0%Display Related Ads $11,044 $11,988 $12,819 $13,665 $14,535 $15,450 7% YoY Change 15% 9% 7% 7% 6% 6% % of Tota l 35% 33% 31% 29% 28% 27%
Banner Ads $6,823 $7,722 $8,511 $9,192 $9,743 $10,230 YoY Change 14% 13% 10% 8% 6% 5% % of Tota l 22% 21% 20% 20% 19% 18%
Rich Media $1,301 $1,116 $837 $603 $422 $325 YoY Change -17% -14% -25% -28% -30% -23% % of Tota l 4% 3% 2% 1% 1% 1%
Sponsorships $1,111 $845 $589 $412 $289 $202 YoY Change 42% -24% -30% -30% -30% -30% % of Tota l 4% 2% 1% 1% 1% 0%
Digital Video $1,809 $2,306 $2,882 $3,459 $4,081 $4,693 19% YoY Change 39% 27% 25% 20% 18% 15% % of Tota l 6% 6% 7% 7% 8% 8%
Page 11
Online Advertising Outlook
12
► CRT U.S. Mobile Advertising Forecast 42% CAGR to $13.7B in revenue in 2016E
► Expect Strong Growth Across Mobile Search, Display and Video/Other
► Strong Audience Growth Dynamics
► Monetization Improving Over Time
CAGR($M) 2011A 2012A 2013E 2014E 2015E 2016E 2012-2016U.S. Mobile Ad Revenue $1,587 $3,403 $5,586 $8,100 $10,935 $13,669 42% YoY Change 148% 114% 64% 45% 35% 25%
Mobile Search $603 $1,429 $2,402 $3,564 $4,921 $6,288 45% YoY Change 169% 137% 68% 48% 38% 28% % of Total 38% 42% 43% 44% 45% 46%
Mobile Display $873 $1,532 $2,402 $3,321 $4,265 $5,057 35% YoY Change 127% 75% 57% 38% 28% 19% % of Tota l 55% 45% 43% 41% 39% 37%
Mobile Video & Other $111 $442 $782 $1,215 $1,750 $2,324 51% YoY Change 247% 298% 77% 55% 44% 33% % of Tota l 7% 13% 14% 15% 16% 17%
Source: IAB, PricewaterhouseCoopers and CRT Capital Group LLC estimates
Page 12
Mobile Search - Google
13
► We expect Google to generate $8.7B in Mobile revenue this year
► Mobile Search could approach $4.7B, up 44% YoY.
► Mobile Display could approach $1.8B, up 36% YoY. Interestingly, 40% of YouTube video views are now coming from mobile devices.
► Enhanced campaigns should help drive CPC pricing parity with desktop over time, thus acting as an accelerator for growth in Google’s Mobile revenue
► In terms of search query share, we believe that Google has ~90%+ mobile query share
Source: CRT Capital Group LLC
$0.7 $1.6 $3.3
$4.7 $5.8 $6.9 $7.9
$0.2 $0.7
$1.4
$2.1
$2.7 $3.2
$3.6
$0.3 $0.7
$1.4
$1.8
$2.2
$2.4
$2.6
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
$16.0
2010A 2011A 2012A 2013E 2014E 2015E 2016E
Google Mobile - Search Google Mobile - Play Google Mobile - Display
Page 13
Mobile Social - Facebook
14
► We expect FB to generate $3B in Mobile Ad revenue this year, as we show in the chart below
► In 2011, FB had $0 in Mobile Ad revenue vs. Google which had $2.3B
► Growth has come from FB increasing ad loads throughout 2012 and 2013
► Q2 and Q3 saw strong demand from DR advertisers as FB improved its tools and analytics
► Advertisers may need to focus on quality as FB limits growth of ad load going forward
Source: CRT Capital Group LLC
Page 14
Mobile Social - Twitter
15
► We expect Twitter to generate $580M in revenue this year, or about $430M in Mobile Revenue
► As of Q3, Mobile Revenue was 73% of total ad revenue
► We believe it is still early days for Twitter in terms of monetization
► Twitter could bridge the gap between real-time, TV, and communications – we believe that this could be a big opportunity for advertisers
Source: CRT Capital Group, LLC
$7 $78
$269
$579
$1,013
$1,436
$M
$200M
$400M
$600M
$800M
$1,000M
$1,200M
$1,400M
$1,600M
2010A 2011A 2012A 2013E 2014E 2015E
Worldwide Advertising Services Revenue
Page 15
Agenda
Overview
CRT’s Online Advertising Forecasts
Twitter Overview
CRT’s Proprietary Twitter User Survey
16Page 16
Social+Mobile Can Be A Powerful Marketing Tool
17
Source: CRT Capital Group
Facebook Twitter
1.19B monthly active users
73% on mobile
Connect with your friends
232M monthly active users
75%+ on mobile
Connect with your interests
Engagement
Likes / FollowsConversion
Brand Campaigns
Direct Response
Campaigns
Reach
Page 17
Twitter Ads – Promoted Products
18
Source: Twitter, CRT Capital Group
Promoted Account
Promoted Trend
Promoted Tweet
Page 18
Promoted Tweets
19
► Advertisers can “promote” selected Tweets within their Twitter account , similar to Page Post Ads on Facebook
► Promoted Tweets are an effective way to:Increase the exposure of a brand’s Tweets Serve unique messaging to specific audiences to drive engagement
► Pricing based on Cost per Engagement (CPE)Engagements represent clicks, retweets, favorites, etc.Over 90% of engagements are generally clicks
Source: Twitter, CRT Capital Group
Page 19
Lead Gen Cards
20
► Allows users to easily express interest in your offer
► Can expand Tweet and view offer within the Timeline with the user’s information pre-filled
► Captures email for marketing follow up
Source: Twitter, CRT Capital Group
Page 20
Promoted Accounts
21
► Generate new Followers for your Twitter account
► Target users via pre-defined categories (e.g. parents)
► Pricing based on Cost per Follower (CPF)
Source: Twitter, CRT Capital Group
Page 21
Promoted Trends
22
► Drive brand awareness at scale
► Target U.S. or global
► 10th “Trend” listed at the top of the daily trends list
► Flat fee for a 24-hour period
Source: Twitter, CRT Capital Group
Page 22
Twitter Amplify
232323
► Nexus between television and Twitter
► Real-time, dual-screen sponsorships and in-Tweet video clips (e.g. instant replays from advertisers like the NBA during games)
► Advertisers include: A&E, MLB, Discovery, PGA, Vevo
Source: Twitter, CRT Capital Group
Page 23
Twitter Tailored Audiences
24
► Twitter’s take on Facebook’s Custom Audiences
► Allows cookie matching (Facebook introduced a similar feature in October)
► Data partners include Adara, AdRoll, BlueKai, Chango, DataXu, Dstillery, Lotame, Quantcast, ValueClick, and [x+1]
► Beta customer results:
► HubSpot saw 45% lift in engagement rates
► Krossover saw 74% decrease in cost per customer acquisition
► New Relic saw 195% lift in conversion rates
Source: Twitter, CRT Capital Group
Page 24
Agenda
Overview
CRT’s Online Advertising Forecasts
Twitter Overview
CRT’s Proprietary Twitter User Survey
25Page 25
CRT’s Twitter Survey
26
► CRT conducted a proprietary survey in conjunction with Survey Monkey for to learn about the service from a Consumer’s perspective
► We reached out to over 7,000 Internet users, and 1,676 people indicated that they use Twitter
► Survey was conducted from October 17th to October 22nd 2013
► We wanted to test the following
► What do Twitter users do on Twitter?
► How engaged are they with the service?
► What do users think about Ads on Twitter?
► Are people really watching TV and Tweeting?
► What could Twitter do to improve the service?
Page 26
Twitter Survey – Frequency of Usage
27
15%
20%
24%
41%
Extremely often
Quite often
Moderately often
Slightly often
How often do you use Twitter?
► 35% of Twitter users are heavy users
► 65% of users are “casual” or “casual+” users
Source: CRT Capital Group, LLC, n= 1,676
Page 27
Twitter Survey – Frequency of Usage
28
0%
15%
26%
28%
None
Once during the last month
Several times a day
Few times a week
During the last month, how many times have used Twitter?
Source: CRT Capital Group, LLC, n= 1,676
► 28% of users go to Twitter few times a week
► 26% of users go to Twitter several times a day
Page 28
Twitter Survey – Frequency of Usage
29
18%
35%
48%
…Less than last year
…About the same
…More than last year
In the past month, have you used Twitter…
Source: CRT Capital Group, LLC, n= 1,676
► Over 80% of Twitter users are using the service the same or more than last year
► 48% are using Twitter more than they did last year, which indicates to us that people are finding value in the service and are not getting tired of it
Page 29
Twitter Survey – Frequency of Usage
30
2%
6%
6%
24%
63%
…Go down significantly
…God down moderately
…Go up significantly
…Go up moderately
…Stay about the same
Over the next twelve months, do you think your Twitter usage will…
Source: CRT Capital Group, LLC, n= 1,676
► ~93% said they plan to use Twitter the same or more over the next year
Page 30
Twitter Survey – Use Case
31
6%
7%
10%
13%
14%
17%
33%
Once a day
More than once a month
More than once a day
More than once a week
Once a week
Once a month
Almost never
How often do you tweet?
Source: CRT Capital Group, LLC, n= 1,676
► 33% of Twitter users consume information only, and never tweet. Twitter Voyers!
► But that doesn’t hide the fact that a majority (63%) do actually tweet
Page 31
Twitter Survey – Use Case
32
4%
16%
19%
20%
41%
Following brands and/or products
Connecting with friends and colleagues
Following celebrities and/or athletes
Broadcasting messages, thoughts, or opinions
Reading/consuming news and information
What do you use Twitter most for?
Source: CRT Capital Group, LLC, n= 1,676
► 41% of users access Twitter to get real-time information
► Only 4% follow brands or products – something that marketers will need to contend with
Page 32
Twitter Survey – Use Case
33
10%
23%
31%
36%
140 Characters is too little to make my point
Therea re too many ads
Hard to find tweets from my followers
I'm not really sure how to use Twitter
What do you dislike most about Twitter ?
Source: CRT Capital Group, LLC, n= 1,676
► The Shocker #1! 36% of Twitter users don’t really know how to use Twitter! This is an issue, and we believe that Twitter could easily address this with more education, a quick tutorial when signing up, and helping you narrow your interests
► Twitter also needs to do a better job of helping users search for specific tweets from the firehose/…
Page 33
Twitter Survey – Use Case
34
47%
42%
32%29% 28% 28%
18%15%
14%12%
9%
5% 5%3% 2%
Share content (blogs,
articles, etc)
Follow Celebrities
Share information about local
events
Have a conversation
Share content/info
from a live event
Support causes and charities
Use hashtags to start a new topic, event,
etc
Share photos Share good deals,
coupons, etc
Make new friends
Share videos Track stocks Join or host a Tweet
Create a poll for input
Share music
What do you like best about Twitter ?
Source: CRT Capital Group, LLC, n= 1,676
► Sharing/viewing content and following celebs seem to be the most popular activities on Twitter
Page 34
Twitter Survey – Use Case
35
70%
61%
33% 32%
19%
8%4%
2%
12%
Tweeted Re-Tweeted Shared pictures Shared an article or video clip
Logged into another site w/ Twitter account
Shared a file Shared music Exchanged a business card
Other
In the past month, while using Twitter, have you…
Source: CRT Capital Group, LLC, n= 1,676
► The most popular action on Twitter is Tweeting and Re-Tweeting
► Surprisingly, people are sharing pics and videos on the site as well
Page 35
Twitter Survey – Use Case
36
5%
9%
27%
59%
Greater than 500
201-500
51-200
Less than 50
How many Twitter followers do you have?
7%
14%
35%
44%
Greater than 500
201-500
51-200
Less than 50
How many people do you follow on Twitter?
Source: CRT Capital Group, LLC, n= 1,676
► Followers are not necessarily friends
► Most users sers have less than 50 followers and follow less than 50 people!
► Average Facebook user has over 200 friends
Page 36
Twitter Survey – Competition
37
10%
16%
16%
24%
34%
89%
Other
Tumblr
Snapchat
Google+
What other social media sites do you use regularly?
Source: CRT Capital Group, LLC, n= 1,676
► FB and Instagram top the charts
► More people use Google+ than Snapchat!
Page 37
Twitter Survey – Competition
38
8%
11%
21%
22%
38%
I use Twitter a moderatly more
I use Twitter a lot more
I use Twitter about the same
I use Twitter moderately less
I use Twitter a lot less
How much do you use Twitter vs. the other social sites?
Source: CRT Capital Group, LLC, n= 1,676
► 60% use Twitter less than other social sites
► 40% use Twitter same or more
► Twitter is more for snacking on info than keeping up with friends/family
Page 38
6%
7%
9%
15%
63%
Significantly worse
Somewhat worse
Significantly better
Somewhat better
About the same
How are the quality of ads on Twitter compared to the ads on Facebook?
Twitter Survey – Advertising
39
Source: CRT Capital Group, LLC, n= 1,676
► 87% of users find ads on Twitter to be better quality than ads on FB…
Page 39
Twitter Survey – Advertising
40
14%
86%
Yes
No
Have you clicked on a Twitter Ad?
Source: CRT Capital Group, LLC, n= 1,676
► …But people are still not engaging with ads
Page 40
Twitter Survey – Advertising
41
14%
52%
Companies/brands that tweet me about deals, promos, etc.
Useful links in the tweet that take me to their site
What types of ads do you engage with on Twitter?
Source: CRT Capital Group, LLC, n= 228
► Of those who clicked on an ad, 52% like relevant links
► Brands ads and promos are not too popular right now
Page 41
Twitter Survey – Advertising
42
15%
16%
69%
Very interesting/relevant
Not very interesting/relevant
Somewhat interesting/relevant
How interesting/relevant are the ads you see on Twitter?
Source: CRT Capital Group, LLC, n= 228
► 84% of users find ads on Twitter to be engaging and interesting!
Page 42
Twitter Survey – Advertising
43
13%
41%
46%
No
Yes
Yes but with reservations
If Twitter could improve the relevancy of the ads, would you be open to having Twitter show
you more ads?
Source: CRT Capital Group, LLC, n= 1,676
► 87% of users would be open to seeing more ad load on Twitter!!!
► This is the first time we’ve ever seen this type of response
► Indicates to us that the ad load on Twitter is very light right now, and Twitter could step up monetization on this front
Page 43
Twitter Survey – Twitter & TV
44
7%
15%
29%
49%
A lot of the tiime
Often
Once in a while
Almost never
How often do you use Twitter while watching TV?
Source: CRT Capital Group, LLC, n= 1,676
► 51% of Twitter users access the service while watching TV, but 49% don’t
Page 44
Twitter Survey – Twitter & TV
45
7%
10%
37%
46%
Yes, and related to the ads played while watching the show
Yes, buy un-related to the ads played during the show
I don't remember
No
Have you seen an ad on Twitter while watching TV?
Source: CRT Capital Group, LLC, n= 1,676
► Amplify is still in early stages
Page 45
Key Takeaways
46
► Twitter is still in its early stages with regards to rolling out advertising products
► Twitter needs to do a better job of educating users and marketers about the benefits of the service, and how to take advantage of the real-time interest graph
► Most Twitter users are using Twitter the same or more than last year
► Over 85% of Twitter users said they plan to use Twitter the same or more over the next year
► People find the ads on Twitter to be relevant and interesting, but most people haven’t clicked on an ad
► 87% of users would be ok with Twitter showing more ads if those ads were relevant and interesting
► 51% of users access Twitter while watching TV, but most of them haven’t seen an ad on Twitter while watching TV
► We believe that marketers and agencies put Twitter in the experimental budget bucket; Once tools, analytics, and APIs improve, we could see more budget moving to Twitter
Page 46
Questions?
47
Neil A. DoshiManaging Director, Internet Research415.762.4880 | [email protected]@neildoshi
Robert J. CoolbrithVice President, Internet Research415.762.4890 | [email protected]
Page 47
48Page 48