Snap Inc desperately needs ad revenue to redirect its sinking share price. So after a year of getting mercilessly copied by Facebook, Snapchat is returning the favor by launching its take on the Facebook ads Power Editor. This new “Advanced Mode” for its Snapchat Ads Manager lets big advertisers rapidly deploy complex ad campaigns with tons of creative variants.
By allowing big ad agencies and brands to efficiently target, test, and update their ad campaigns, they may be willing to spend more money on Snap. While the benefits won’t kick in in time for Snap’s pivotal Q2 earnings call next week, Advanced Mode could help the upstart put a dent in the Google / Facebook ad duopoly down the line.
Snap launched its Ads Manager in June, and added vertical video creation tool Snap Publisher in July. With the addition of Advanced Mode, advertisers will be able to
- Automate multiple ad campaigns with a permutation builder so they can quickly create 100s of ad creative and targeting variants
- Utilize Snap spreadsheets for bulk design and editing of campaigns
- Save targeting audiences to use on future campaigns
- Performance metrics that can be grouped and ordered by different metrics with data exportation
- Automate campaign naming
These tools could help Snapchat get to the ad load and scale necessary to monetize its slow growing audience. If it can’t add 10s of millions of new users per quarter, Wall Street will want it to prove it can earn a higher average revenue per user. That means squeezing as much money as it can from each user with these improved ad targeting options.
While Facebook might be running Snap’s product playbook, Snap is making progress by running Facebook’s monetization playbook.