Snap Casts Wider Net for Advertisers With New Self-Service Tool
04 5월 2017 - 10:29PM
Dow Jones News
By Georgia Wells and Jack Marshall
!
Snap Inc. on Thursday announced new tools to help a broader base
of marketers quickly buy ads on Snapchat, an important step in its
ambitions to rival online ad giants such as Facebook Inc. and
Alphabet Inc.'s Google.
A new self-service product called Snapchat Ad Manager lets
marketers buy any of Snap's ad formats, including videos, and
target them to certain groups of users, Snap said in a
statement.
Previously, marketers had to buy ads directly from the Snapchat
sales team or through Snap's ad partners, which cater to
more-specialized advertising such as those targeted based on
weather.
With the new tools, marketers will be able to purchase ads
themselves using a credit card starting in July, Snap said -- which
could encourage a broader base of companies to experiment with its
ad offerings.
Similar buying tools have helped propel mammoth online
advertising businesses for Google and Facebook by attracting
spending from small- and medium-size businesses in addition to
major companies. Other online platforms, such as Twitter Inc. and
Pinterest, followed in their footsteps by offering their own
self-service ad-buying tools.
Ad revenue growth is important for supporting Snap's valuation
of more than $25 billion because nearly all of Snap's revenue comes
from advertising. Snap recorded 2016 revenue of about $404.5
million.
Snap said it built the new tool with needs of smaller businesses
in mind. More than 20 brands, including online sneaker marketplace
GOAT and movie ticketing app Atom Tickets, had early access to the
ad manager. Snap plans to roll out the tool in countries including
the U.S., Canada, U.K., France, Germany and Australia.
Snap also announced a mobile dashboard where advertisers can
review ads and live metrics about their campaigns from within the
Snapchat app.
(END) Dow Jones Newswires
May 04, 2017 09:14 ET (13:14 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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