Digital-POV: Snapchat Publisher Ad Creation Tool
Snap has launched a new ad creation tool to enable brands of all sizes to create their own Snap Ads. The move further opens up the platform to a long tail of advertisers in the same way that AdWords works for Google – creating a self serve platform for ad creation.
Details and Implications:
The new tool, called Snap Publisher, gives would-be Snap advertisers a number of different templates to choose from, allowing these templates to then be customised as required by the addition of logos, pictures and videos.
Clearly the self-serve nature of the tool means that it is aimed at getting advertisers that are already invested in using other social and online advertising platforms to extend their thinking to Snapchat, allowing them to repurpose ads quickly to the unique Snapchat vertical format. Snap Publisher works with the recently launched Snapchat Ad Manager, Snap’s self-serve ad platform that allows brands of any size to buy ads. Now, those same brands can create their own ads too.
In the social platform space there are some clear winning formulas that are being adopted by multiple players. Whether that is the ability to post in specific formats that tell stories or stream video, or in this case the self-serve creation and purchase of ads. It would appear that imitation is indeed the most sincere form of flattery and the launch of the new tool and the self-serve platform can’t come quickly enough for the latest payer on the social scene.
For many advertisers it is costly to adapt creative to suit the various social platforms. The Snapchat Publisher will ultimately give greater control to advertisers to be more agile in editing creative to natively fit the Snapchat environment and the way users interact with the platform. This could encourage greater adoption of Snapchat by allowing the ability to test more thoroughly - which is important when entering a new advertising environment - to determine how best to take advantage of both paid and organic opportunities. This shouldn’t detract from the creative agencies’ broader ideation process, but should remove barriers and enable teams, like Mindshare Content+ and FAST, to drive adaption and iteration to enable our clients to take advantage of innovative media opportunities.
At Initial Public Offering Snap Inc. stock was valued at $17 and quickly rose to just under $30 in its first month (March ’17). It is currently trading below its IPO price and the market is demanding innovation to drive revenue. Business Insider quoted one analyst at Morgan Stanley saying: "We have been wrong about SNAP's ability to innovate and improve its ad product this year (improving scalability, targeting, measurability, etc.) and user monetization as it works to move beyond 'experimental' ad budgets into larger branded and direct response ad allocations.”
Snap will be hoping that by opening up the platform and creating a long tail of advertisers it can answer the market.