Snapchat, as announced a few months ago, has officially launched its self-service ad-buying system, which was originally rolled out with 20 brands, including smaller players like online sneaker seller Goat, social app Mammoth Media and gift retailer Hollar.
Called Snapchat Ad Manager, it is now available to all Business users in the U.S., the U.K., France, Germany, Australia and other countries for companies of all sizes, marking a significant update for a company and platform that so far only used to allow big brands to make use of its vast pool of users. Marketers of all stripes can buy the app’s vertical video ads, called Snap Ads, with an aim to drive app installs, garner branded long-form video views or prompt e-commerce click-throughs (swipe ups, in Snapchat lingo)to their website or ordering systems.
Ad buyers will be able to manage video creative and first-party audience data—like email lists and mobile app IDs— and leverage the platform’s targeting capabilities and goal-based bidding while seeing a set of performance metrics.
The new Ad Manager is an important move for Snapchat as it allows them to finally modernise and make use of its outdated ad platform. By adding automated solutions for smaller advertisers, Snapchat can now also cater to the important SME’s segment globally and save on costs by reducing the reliance on labour-intensive sales cycles.
Here’s Chief Strategy Officer Imran Khan had to say on the first earnings call last month:
“Last week we announced our first Snap Ads self-service product, called Snapchat Ad Manager. Our goal is to put the power of our ad products into the hands of every advertiser, regardless of their size. This tool supports all of our ad products, targeting capabilities; and goal-based auction solutions, which allows advertisers to bid for swipes or bid for app installs.”
The new tool allows advertisers to see how campaigns are performing, choose specific objectives for campaigns, and target ads based on a handful demographic factors. App-install ads are a growing part of the ad market.
Snapchat does also allocate Sales rep in certain circumstance but obviously not every company or brand will be able to afford that. Furthermore, for companies that do not wish to pay to buy ads through a third-party software provider that plugs into Snapchat’s advertising API, can now purchase Snapchat’s most common ad format without those extra requirements.
Snap’s ad platform is still in its very early stages and there will be a few trials and errors in terms of the platforms and types of advertising available at start. However, these efforts clearly demonstrate the company’s goal to grow, automate, and scale its platform. At this point, it’s really going to boil down to execution and how well the public and companies “perceive” and engage with these updates.