Snapchat is positioning premium commercial space with a new video advertising program.
What Is Snapchat’s New Video Advertising Program Snap Select?
Similar to Facebook’s “In-Stream Reserve” and YouTube’s “Google Preferred,” the new video ad program from Snapchat, Snap Select, allows brands to buy six-second video ads without the use of an auction, at a fixed rate, and with guaranteed delivery to a select number of top-tier people.
According to AdAge, brands will order the number of views they desire and pay on a CPM basis. CPMs will be as low as one cent for each completed view, according to Snapchat.
Snapchat has said advertisers can reach up to 60 million people a month in the U.S. on Discover, the section of the app with shows from media partners, including Condé Nast Entertainment, Tastemade, Hearst and Buzzfeed.
Why Did Snapchat Release A Top-Tier Video Advertising Program?
Snapchat competitors, like Facebook, have released comparable top-tier video ad products, but Snapchat has separated itself from the pack by offering its ad space for less than half of what Facebook is charging. Most online ad purchases take place in competitive auctions, so simplifying the ad buying process could be a way for Snapchat to offer brands a more predictable option, giving them a sense of comfort when it comes to their ad spend.
How Does Video Advertising Affect Digital Marketers?
Video marketing provides marketers with an appealing, flexible and shareable outlet to reach their target audiences. It is estimated that 92% of people who consume mobile videos share them with other people. Using video to promote your brand is an innovative and proven successful approach to engaging viewers’. Snap Select now offers a new way to reach a specific target at a reasonable rate.