- Snap is further automating the media buying process on its platform with a new ad technology format, according to an announcement emailed to Marketing Dive on Tuesday. Advertisers around the world can now purchase multiple video formats in a single ad set, helping marketers optimize their media buying on the social media app.
- Multi-format delivery aims to change the way marketers think about buying media on Snap, moving to a more multi-product approach to boost performance, according to the announcement. The new system is different from single-product ad sets in that Snap’s machine learning technology will determine the best ad inventory to fill the ad space based on format, purpose, target audience, and costs.
- Starting this week, marketers can use the technology to purchase any of Snap’s video formats. The social media company plans to expand multi-format delivery in early 2022 by adding self-service augmented reality (AR) formats, a move that could expose more Snapchat marketers to AR advertising and expand the market. attractiveness of the platform to buyers.
Snap’s new multi-format delivery is the latest example of emerging technologies such as machine learning and automation being leveraged to potentially increase the ROI on ad spend. The ad-tech product was designed to simplify the ad buying process and allow marketers to bundle various creative options for placement in the Snap suite. The new system also streamlines campaign management by keeping all of a brand’s creative elements in one place, known as the Ad Set.
Previously, a Snap ad set could only include one format, limiting how easily marketers could purchase ad slots in a range of formats. New system makes it easier for marketers to purchase a variety of ad placements before machine learning technology selects and places creatives in available ad space based on format, purpose, budget and the target audience of the campaign.
âWe’ve made multi-format delivery as easy as an advertiser providing us with creative resources for all ad products, optimizing against their purpose and delivering superior results,â said Peter Naylor, vice president of sales at Snap, in the ad.
Automated systems like this allow greater efficiency in the ad buying process, providing the ability to maximize ad response. However, the new technology could reduce marketers’ control over their campaigns as it weighs on Snap’s automated placements.
The new ad technology would allow marketers to better examine the analytics of their Snap campaigns. Multiformat serving ad units will be broken down by ad format, so marketers can assess the effectiveness of each format and how it contributes to overall campaign performance.
Snap’s new ad technology follows steps Google and Facebook have taken in recent years to integrate more machine learning into their ad networks, including through automated ad placements. The company may be working to strengthen its advertising offerings as it seeks to increase ad sales revenue at a time when Apple’s changes are impacting its growth rate. Snap in October said revenue grew 57% year-over-year in the third quarter, but still missed estimates in part due to changes Apple introduced to iOS over the summer that made user tracking a sign-up rather than unsubscribe functionality.