Its second quarter earnings were weak, and its stock price is the lowest it's been since its IPO.

And yet, even as shareholders see dwindling value in Twitter as an investment, the digital teams behind the 2016 presidential candidates say that on a night like tonight—the night of the first Republican primary debate—Twitter is more relevant than ever.

"Successful use of Twitter is the key to winning the debate online," says Vincent Harris, CEO of the political strategy firm Harris Media, which is behind Senator Rand Paul's campaign and which also ran Governor Rick Perry's digital strategy back in 2012. Harris says tonight he plans to spend heavily advertising on Twitter on behalf of the Rand campaign. "Whereas almost everyday during the election cycle Twitter might be a second or third platform," Harris says, "on debate night it's certainly going to be the No. 1."

Twitter didn't always have so much to offer advertisers.

The fact is, the very thing that often makes Twitter inaccessible to the average user is the same thing that makes Twitter so effective when it comes to live campaign events: it's an echo chamber of journalists, public figures, and, ok, fine, "influencers," all ceaselessly gabbing away to each other. The type of constant sharing that might feel intrusive on Facebook or Instagram is rewarded on Twitter. That's certainly not for everyone, and it costs Twitter substantial user growth. And yet, it's still within these circles that news shifts and storylines begin to take shape. Harris' hope is that by advertising with Twitter, he'll be able to help shape them.