SNAPCHAT INTRODUCES THIRD-PARTY MEASUREMENT
One of the major reasons Snapchat hasn’t been a must-buy for advertisers as yet is primarily the inability of ad buyers to see how their Snapchat campaign has performed and impacted the business’s bottom line. Snapchat is now looking at changing this.
Early this month Snapchat introduced increasing its third-party measurement. This allows third party publishers and ad networks to track the impact of their ads and evaluate the monies they’re spending and from where they’re getting the best bang for their buck. This measurement program addresses the marketing mix model (MMM). This new program adds to Snap’s existing 15 measurement partners that vets the app’s impressions, reach, targeting and viewability metrics. The goal is twofold: Increase the likelihood that big brands will buy ads on Snapchat and attach those campaigns to third-party measurement that confirms the results of a campaign.
The new measurement program aims to make Snap more competitive with Facebook, Google and Twitter, which all offer similar MMM measurement efforts that aggregate all of an advertiser’s media channels—including TV, print, digital and out of home—and then zero in on one specific channel to measure how effective advertising was in driving sales. Snapchat’s marketing mix measurement program will work across all of the mobile app’s ad formats and will track campaigns’ return on ad spend, as well as sales lift. Those metrics help marketers evaluate how past campaigns impacted their businesses’ bottom lines and where they should spend their money in the future, and they are already available for ads on other platforms like Facebook, Twitter and Pinterest.
Snapchat is also adding new audience data. It’s upping the number of Snap Lifestyle Categories that brands use to target ads based on what content someone watches from 60 to 90 groups. For example, advertisers have been able to target travel enthusiasts within the app for a while. Now they can fine-tune the targeting to home in on family travelers or frequent travelers.