With a target potential of 187m daily active users, Snapchat is fast proving itself as a leading player in the mobile ad space. Are you using all features available? Here are our current top 4 Snapchat features for highest performing ads:
Optimizing for Conversions
Snapchat is now delivering ‘Optimizing for Conversions’ to advertisers. It is the ability to feed mobile app install ads to users most likely to take a specific action – e.g. if looking to acquire users most likely to make an in-app purchase, the app advertiser can now choose to run mobile app install ads that would optimize for the purchases event. The feature is geared towards app purchases and app sign ups
With this latest feature, we’ve seen lower CPMs, higher quality impressions, up to an 82% increase in payers rate and a 95% increase in Average Revenue Per User by D7 (ARPU D7). These factors have combined to increase D7 ROAS by up to 30%. In short, the ability for an app marketer to optimize their targeting beyond just app installs, but towards in app purchases is super efficient and helps make the platform more competitive.
Snapchat is constantly updating audience features that allow advertisers to target users based on their content consumption and are now putting users into lifestyle categories based on their usage of the platform. Based on user signals, Snapchat Lifestyle Categories consist of over 100+ interest segments including parenting, political news and music festivals. With Lifestyle Categories in play, app advertisers can hit audiences with more specific interests compared to lookalike lists and can gain improved ROAS by targeting higher quality users.
Story Ads on Snapchat allow app advertisers to reach their consumers by placing a branded tile in Snapchat’s Discover section that opens into a collection of ads which lead to potential app installs. As opposed to a regular Snap Ad that is limited to 10 seconds, Story Ads can have up to 20+ creative assets linked together allowing advertisers to truly showcase their content, grabbing user attention, telling a full story, allowing for in depth and interactive content. This new placement has four different stages of qualification (tile choice, content interaction, swipe-up and the install) which, from our experience, brings higher quality users and better ROAS development.
Story Ads are placed strategically in the users ‘discover’ section, next to their daily content, blending in to its surroundings and provides the user a better understanding of the app content prior to install. From our experience, even though CPIs can fluctuate using this feature, conversion to payers can prove significantly higher.
Snap recently released autobid functionality for app Install goal based bidding which automatically optimizes bids to help reach advertising goals, billed per impression. If you have identified top performing audiences (or Lifestyles) but are having difficulties establishing optimum bids, or even if you find yourself changing bids too frequently, it may be worth giving Snapchat autobidding a try. After having integrated this functionality into the Bidalgo platform early on, we have witnessed this feature increase conversion to payers, CTR and all around scalability.
With average CPMs of ~$3 and a widely varied audience, mobile app advertisers are turning to Snapchat to tap into exciting new audiences. As official Snapchat partners, Bidalgo has witnessed some incredible success for clients on this fast expanding platform, particularly when integrated into a wider multi channel strategy. Watch this space as we bring you more best practices on this awesome platform that is so far witnessing consistent and scalable traffic, together with stronger ROAS and CTR.