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Twitter is Now #3 Social Media: Launches Promoted Accounts

At the Interactive Advertising Bureau’s Mixx Conference in New York City, Twitter COO Dick Costolo, introduced Promoted Accounts to automatically suggest that users follow brands with similar interests. Advertisers will pay for the service. Twitter has surpassed MySpace and is now the third most visited social networking site.

Promoted Accounts allow advertisers to give updates to Twitter users. Other Twitter promotion tools include Promoted Tweets (which appear at the top of updates) and Promoted Trends (appearing on lists of trending topics). Twitter plans to offer a self-serve advertising system for small businesses next year.

Advertisers pay Twitter when users click on a link, which is about 5 percent of the time.

With the introduction of Promoted Accounts, Twitter will stop Earlybird Exclusive Offers.

Twitter has overtaken MySpace to become the third most popular social networking service in terms of unique visitors, according to comScore.

Twitter now has more than 160 million users, adding 370,000 more each day. Approximately 96 million unique visitors accessed Twitter last month, up 76 percent over year-ago totals.

MySpace had 95 million unique visitors in August, a 17 percent year-over-year decline.

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