Time: 2024-05-29
In Q4 last year, Snapchats performance looked pretty bleak, with lower-than-expected ad growth, and higher-than-anticipated costs, leading to job cuts, funding reductions, projects shelved, etc.
But in Q1 this year, Snap shares bounced back, based on increased ad performance, re-focused businesses opportunities, and a major new push on SMBs. That final point resulted in the number of SMB advertisers jumping 85% year-over-year.
Which is obviously huge, and this week, Snap held a webinar with two of its key product leaders to discuss how its re-focused its ad system, and improved results for all ad partners in the app.
The 14 minute overview provides more specific insight into each element, but in this post, well go over the key notes.
First off, Snap says that its redesigned its ad formats, in order to unify the look and feel of promotions in the app.
As per Snap:
Weve focused on designing formats that drive the outcomes and objectives our partners are looking for, and these redesigned formats are helping to maximize the intentionality behind every action a Snapchatter takes on an ad.
The new formats provide more uniformity in Snap promotions, using its full-screen display to showcase ad offers and messaging.
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