Snapchat Unveils Huge Advertising Expansion
Imran Khan, Snapchat’s chief strategy officer, has been working fervently to improve social media advertising opportunities. His team recently announced the launch of Snapchat Partners, its long-awaited advertising API (application programming interface). This new interface we’ll connect Snapchat with over 20 tech-oriented companies. The big goal of this API is to drastically expand advertising potential on the platform over the coming years. Part of this expansion is allowing Snapchat ads to be sold by third parties.
Furthermore, this process will be split between two different collaborators: Ads Partners and Creative Partners. Ads Partners will be responsible for designing software for Snapchat advertisers and enhancing campaigns. Amobee, Brand Networks, and Unified are included in this set of collaborators. Creative Partners will be in charge of directing social content and experience on Snapchat using 3V, its vertical-video structure. This team includes Big Spaceship, Refinery 29, and Stun Creative.
Marketing in the World of Snapchat
From the inception of Snapchat, many marketers were hesitant to use this app for conversion optimization. This was influenced by the belief that Snapchat could largely serve as a sexting platform for teenagers. Also, many marketers feared being able to display advertising in a highly interactive and affordable way. They felt more comfortable going the traditional route of ecommerce marketing. But Snapchat wants to help them achieve an easier approach of advertisement innovation. Khan has expressed his understanding of marketers’ differing objectives. He wants to ensure they have a better way of telling their brand stories. Here’s more information on how:
- API material will be sold through an auction-based, automated system, offering a nicely coordinated purchasing experience for marketers.
- Snapchat will closely inspect every ad that marketers use for quality measures. Also, steps will be taken to ensure users are not bombarded with ads.
- Marketers can benefit from Snap Ads Between Stories, a newly launched product that will include advertisements between users’ Snapchat stories. These stories are a collection of photos and videos that users share throughout the day, which can be repeatedly viewed within 24 hours.
- Snapchat is aiming to make API videos and user stories less expensive than their premium ad inventory, which has been running for the past year.
- It’s predicted that the wider selection of videos will be more appealing to marketers. They can expect five times greater consumer engagement, compared to clickthrough rates of mobile ads.
- Marketers will be able to utilize new measurement partnerships to better analyze ad performance. Doing so will help brands determine which ads are the most effective, making them worth more money.
These implementations should help decrease overall ad rates issues that occurred earlier this year tied to high advertisement costs.
The Powerhouse Effect Snapchat has on Brands
Snapchat has been helping brands score major leveraging power with high conversion rates. For instance, Taco Bell received 224 million views with its national ad campaign for Cinco de Mayo. Millions of fans used their Snapchat filter to turn their heads into giant tacos. Also, Gatorade gained 165 million views with its creative Snapchat lens. Keep in mind that Snapchat averages 150 million users a day.
If you haven’t yet created a Snapchat account for your business, feel free to give it a go. You could be racking up millions of views for your posts and building a committed Snapchat following. Want to read more about brands building an online presence? Go ahead and read the case study Helping TravelStore Become an Online Entity.
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