The company has recently inked deals with Oracle and Moat to measure the performance of ads on its platform.
Snapchat recently expanded its ad offerings with a suite of new tools for brands and marketers, and now it is following that release with two new deals to help it measure the effectiveness of advertising on the platform. The rising social media giant recently inked deals with Oracle and with Moat to improve its ad analytics offerings.
Snapchat has made headlines recently with its impressive user growth; it recently overtook Twitter with 150 million daily users, and with the release of an impressive suite of new Ad tools. The company seems focused on living up to its goal of reaching $1 billion in revenue in 201 and hopes that by offering brands and agencies more metrics they will trust the company with more ad dollars. Oracle and Moat will join nine other media measurement partners, including Sizmek, Innovid, Millward Brown, Neilsen, and more, compared to just one the company was using a year ago.
The partnership with Oracle is designed to measure the impact of advertising on Snapchat with offline sales increases. Using data from the Oracle Data Cloud, the companies can measure incremental store sales resulting from ad campaigns run on Snapchat. The new analytics, which helps quantify the impact of the campaign on in-store purchases, will help consumer packaged goods (CPG) brands understand and improve their marketing efforts on the platform.
“We are delighted to be working with one of the fastest-growing platforms in history to help Snapchat advertisers understand and improve the effectiveness of their campaigns,” said Eric Roza, Senior Vice President of the Oracle Data Cloud. “By combining offline sales data with cutting-edge analytics, we can help Snapchat advertisers maximize their return on investment and drive higher profits.”
According to initial results from an analysis of the in-store sales increases from 12 CPG campaigns on Snapchat, in areas including cosmetic, personal care, cleaning, packaged food, and beverage brands, Oracle found that 92 percent of the Snapchat ad campaigns drove a definite lift in sales. Also, the campaigns on Snapchat exceeded Oracle Data Cloud norms on all key metrics with sales lift being the primary driver.
“We’ve been listening closely to advertisers and delivering the data they need,” said Clement Xue, Global Head of Revenue Operations at Snapchat. “This research shows that Snapchat is more effective at driving sales for advertisers, and we’re delighted to offer this measurement solution going forward.”
Another recent deal by Snapchat is also aimed at providing marketers with more metrics for measuring the effectiveness of Snapchat campaigns. While Snapchat has tracked ad campaigns internally and boasts that an impressive two-thirds of video ads delivered are viewed with sound on, many marketers want independent analytics that can help them compare campaigns across platforms, including Snapchat, Facebook, Instagram, and Twitter, as well as others.
The new deal Snapchat has made with Moat, an analytics firm, will measure, among other metrics, “Human and Viewable” and “Human, Viewable, and Audible” across all Snapchat video ad impressions. Because Moat also measures campaigns on other platforms, the analytics from the company will make it easier for marketers to make comparisons about ad campaigns across social platforms.
“Advertisers are asking for a clear definition of a video view,” said Imran Khan, Chief Strategy Officer of Snapchat. “We are partnering with Moat to bring standard viewability measurement to Snapchat, and support Moat as they move the industry forward by delivering a new metric that measures sight, sound, and motion of a video.”
The public appeal of the platform has been enough to lure advertisers in, and according to a new report from eMarketer the company’s appeal is only on the rise and the user base is expected to expand by 27.2 percent this year. While Snapchat has had great success attracting users, now the company is focused on measuring how much those users interact with ads to attract more advertisers.