Snap Starts New Year by Bolstering Last Year Success

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How Snap remains at the helm of social media's advertising evolution

Snapchat App
Snapchat App

“Complacency is my enemy.”

The quote could reflect Snap's 2016, as well as, 2017, based on recent announcements by the social media giant, still known to many as Snapchat.

Snap has partnered with third-party measurement firm Moat to launch new measurement capabilities for advertisers in Europe, said Business Insider. The tool, which is similar to the Moat measurement for US advertisers which beta-launched in June, allows advertisers in the UK and France to analyze the effectiveness of their video campaigns on the app.

Now advertisers running campaigns in Europe will be able to measure parameters such as "human and viewable" – determining whether their ads actually seen by people, not bots – and "human, viewable, and audible" – which lets them know whether users had the sound on when they were viewing their video ads.

While the move appears to be an attempt by the company to boost its global revenue ahead of its forthcoming IPO; it is also the latest example of how it is looking to beef up its offerings for marketers.

On December 27, Snap reportedly acquired four-year-old Israeli company Cimagine in a deal worth between $30 and $40 million, according Calcalist News.

Cimagine developed a patent-pending markerless technology that enables smartphone users to scan real-world products without the need of a reference marker, like some other solutions require, to embed a realistic 3-D image in a live video scene.

The company's technology is currently used by retailers and brands like Shop Direct and Coca-Cola to help customers visualize their products in specific locations, like a room or store.

A day after the Cimagine news, Snap announced the messaging app would introduce “goal-based bidding,” a capability that gave advertisers more options when purchasing through its ad platform. This type of bidding lets advertisers set goals on their campaigns beyond just views on ads.

Facebook's continual metrics issues have hampered trust in the company's marketing abilities, and Twitter's unstable leadership and drop in market capitalization have rusted the once social media sheen.

However, if Snap continues to make strides to bolster its marketing capabilities in 2017, it will cement its position at the helm of social media's advertising evolution.

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