On 20 November 2020, Snapchat released a new range of ad options for marketers to utilize on the app. These new developments allow for other apps to connect with audiences on Snapchat by linking their own apps with Snap.
In comes Snap’s Creative Kit, the platform’s new tool for more interactive sharing. This is what Snap had to say:
“We’re upholding our momentum in mobile by introducing several exciting new product developments for Apps today. These complementary solutions underpin our relentless focus on helping brands express themselves in fun, innovative ways, while at the same time, never losing sight of what it means to impact the bottom line. Our progress was recently marked by our recognition in the latest AppsFlyer Performance Index, an industry-leading report that provides the most in-depth look at the mobile and app marketing landscape: we secured top four rankings for App Purchases and Retention on iOS and Android globally.”
Snap’s new developments are centered on two pillars: bringing the best of other apps into Snapchat and bringing the best of Snapchat to other apps. The Creative Kit allows app developers to integrate Snap into their apps and vice versa. These are part of Snap’s Snap Kit platform, which it announced back in 2018.
By doing this, Snap allows for more engagement with its young audiences, and they could also reach out to potential audiences through other apps. The new additions to the platform are focused on promotional content across Snap. There are new options for AR promotions across the app, and app marketers can select more objectives when it comes to targeting for ads. For example, app marketers can select app installs as the primary objective when it comes to AR campaigns across Snap. The marketer simply needs to input their specifications, and Snap’s system will do all the heavy lifting.
The new App Conversions ad objective will also help boost engagement across apps. This is what Snap had to say:
“In this dedicated campaign flow, you’ll find an improved deep link ad format to elicit more engagement, the ability to create custom audiences based on the different actions they take in-app, and new goal-based bidding options so you can optimize towards repeat actions, such as Opens and Purchases (and is supported by MMPs).”
Apart from these, Snapchat is also implementing a minimum ROAS bidding for campaigns across the app, and advertisers can use this to fine-tune their spend goal for their campaigns.
Implications for Marketers:
Marketers are given more ways to optimize their campaigns across Snapchat, which is an effective platform to use to connect with younger audiences. These new developments could also provide new opportunities for advertising across the platform, which can be cross-linked with connected apps.