The new Snapchat (NYSE:SNAP) self-serve ad manager will simplify the purchase of video Snap Ads so businesses of any size can participate more easily.
Before the introduction of Ad Manager, ads could only be purchased on Snapchat through its sales team or third-party ad tools built on the Ads API for a fee. This priced out small businesses, leaving only large enterprise to take advantage of the platform
The company has been adding options to attract more ad revenue, including two tools: one for retargeting users, the other to target app-install users through machine learning. Both new features were introduced in April of this year. This however didn’t deliver the scalability Snapchat needed as it struggles to keep investors happy after its IPO and less positive than expected first public earnings release. And stock prices did rise when the company announced the availability of Snap Ads at its first earnings call last month.
A Look at the New Snapchat Self-Serve Ad Manager
How Can Your Small Business Buy an Ad on Snapchat?
Snap Ads is a self-serve system that lets you buy video spots from Snapchat directly through an auction. This means no more fees and account managers to deal with. The company says it starts the auctions low enough so small businesses have an opportunity to participate. And if you win the auction, you can use your credit card to pay for it.
Even if you win the auction, Snap has to approve the video before it goes live.
What Can You Do with the New Tools?
In addition to Ad Manager, Snapchat Mobile Dashboard and Business Manager are also available.
With Ad Manager you can effectively manage your Snap Ads with reporting on any campaigns you have running. From this portal you can optimize, view, use target capabilities and more for different ad types, including video, app install, long-form video and web-view.
The Snapchat Mobile Dashboard lets you receive notifications within the Snapchat consumer app to review live campaign performance as well as editing and pausing campaigns. Last but not least, Business Manager gives you access to billing, managing of different accounts, configure roles and permissions for team members.
It is important to note, while Snapchat has a highly engaged audience, they are very young. As TechCrunch rightfully asks, “The question will be whether smaller businesses can create compelling video ads for Snapchat’s unique vertical video format and fickle teen audience.”