Snap Inc. continued its focus on direct-response marketers with its rollout of an advertising product suite Thursday geared specifically toward application marketers.
The company said the move was made with two key ideas in mind: bringing what’s best for apps to Snapchat with ad products that drive retention, lifetime value and maximum return on ad spend; and bringing the best of Snapchat into apps through experiences that will help keep users engaged.
Marketers focused on user acquisition can now select app installs as the objective for augmented reality lens campaigns. They can set a desired cost-per-install bid, similar to Snap Ads, and the platform’s automated systems will attempt to achieve that outcome.
A new dedicated campaign flow gives marketers the option of an improved deep link ad format to drive more engagement and boost app conversions, and they can create custom audiences based on in-app actions, as well as use new goal-based bidding options.
Snap said the average smartphone user spend 84% of their time on just their top five apps, citing data from eMarketer, and 95% of app users churn within 30 days, according to AppsFlyer, adding that its new campaign flow helps boost retention and LTV.
The platform also introduced a minimum ROAS bid strategy that enables advertisers to reach the highest-spending Snapchatters by setting a specific ROAS.
Snap Audience Network, which is still in beta, allows advertisers to extend their Snapchat campaigns off-platform seamlessly.
The first mediation partners for the mobile ad network are MoPub and Applovin, and Snap said it will work directly with mobile in-app developers that leverage those two platforms to monetize their inventory.
Snap’s Creative Kit enables developers to integrate Snapchat into their apps and let users share AR experiences, filters, GIFs, lenses, videos and other content directly to the Snapchat camera or preview screen.
Snap product marketing manager for apps Skye Featherstone said in a statement, “As consumers spend more time on mobile, brands of all types are reimagining how apps can drive business growth in response to rapid social and economic changes. Over the past year, Snap has doubled down on our ad tech to meet the needs of multichannel brands and app-only businesses alike. In a few short years, we’ve become a top-performing app advertising channel because of our dual focus on developer tools and ad experiences.”
DraftKings manager of growth marketing Vito Batista added, “To reach new users and drive engagement throughout the customer journey, we utilize both acquisition and re-engagement tactics on Snapchat. DraftKings was an early tester of app re-engagement via goal-based bidding, which has become a key part of our strategy helping us to maximize our results.”