Together with its latest AR ad progress, Snapchat is introducing goal-based bidding for e-commerce advertisers which will help them with conversions.
During its rundown for the earnings for the first quarter of this year, Snapchat declared that one of its key priorities was to increase its online sales business.
“In order to onboard these advertisers, we have been rolling out our self-serve tools and investing to create a frictionless buying experience,” reported Snapchat’s chief strategy officer, Imran Khan.
One of the evolving and growing Social Media platform is continuing with its ad business objectives with an announcement on 11th of June describing a number of new ad initiatives. Snapchat introduced new programmed purchase for its AR Lenses, a new AR ad product connected to the platform’s Snappables games. The company claims is its “largest push” for advertisers in the e-commerce game.
Here is a whole list of Snapchat’s new announcements.
AR Lenses will now be made available via self-serve ad tool
As Story, Snap and Filter ads are readily available for purchase programmatically, Snapchat is also adding AR lenses to its own self-serve ad-purchasing tool.
These new AR lenses now will be available via Snapchat’s own self-serve tool and frequency tool based on costs per impressions, which will cost around $8 to $20, but there are various factors involved which also includes targeting.
Sponsored AR Lenses will come with an equivalent advanced demographic targeting currently available with Snap Ads, with 500 predetermined audiences around information like household financial gain, parental standing, lookalikes, and audience match. The new AR lenses will have an ability to trace the real-time metrics around the pixel-based conversions through its full funnel measurement which will help in to measure – offline sales and mobile app installs.
Before available it out there to any or all advertisers, Snapchat says test partners that were able to purchase the AR Lenses programmatically fully fledged a 46% call in CPMs.
Now advertisers can leverage Snapchat’s new Snappables for ads.
Together with introducing AR lenses to Snapchat’s self-serve ad tool, it is also bringing a brand-new AR product – Sponsored Snappables. This new Snappables is nothing but a branded version of the Snapchat’s two-player AR selfie game, where, users are needed to make ‘Funny Faces in Public’ if they wish to play the AR game via Snapchat’s Camera.
The company has decided to serve 3 brands, for now, Bud Light, Dunkin Donuts, and Candy Crush’s developer: King. It will test the new Snappables before their official launch with these brands.
Snapchat’s recent e-commerce developments
Snapchat is also introducing new things to its e-commerce offerings. Snapchat is introducing goal-based bidding conversions, where it is 1st targeting the optimization for e-commerce brands, calling it the biggest push in the e-commerce field.
Also, there is a Pixel from Snapchat itself, which e-commerce advertisers use, it is basically a JavaScript code which helps them measure various campaigns. This pixel is useful in creating campaigns around direct-response objectives including sign-ups and purchases.
Snapchat says advertisers are ready to see the overall range and total worth of purchases driven by their Snapchat campaigns, in conjunction with the precise return on ad spend (ROAS). It additionally plans to form conversion lift metrics accessible within the next few months.
Last October, Snapchat launched its Snap Pixel which was made available to all the advertisers behind a whitelist – which means, anyone can sign in in order to utilize it for marketing purposes and it has that benefit of goal-based conversions. Snapchat also revealed the number of advertisers leveraging its pixel tripled between 4th quarter of last year and 1st quarter of 2018.)
Snapchat is also testing its brand-new e-commerce ad product, right after they launched Snapchat’s Shoppable lenses for e-commerce marketers in April, they said that they are now testing the shoppable snap ads, and story ads for e-commerce marketers. The ads display a tappable product list, when clicked, it will launch a website in Snapchat itself.