Snapchat has added goal-based bidding to improve ad results

Giving more controls to the advertisers, Snapchat is said to have started using a recently rolled out machine learning technique, goal-based bidding. Throught this it determines the users who are most likely to engage with an advertisement on the app itself. According to a report on AdAge on Thursday, this type of bidding lets advertisers set goals on their campaigns beyond just views on ads and advertisers can bid on engagement with their ads when the desired outcome of the campaign is to have people swipe on the ads. “Advertisers decide how much they value a swipe, and Snapchat automatically optimises bidding and delivery to a subset of the advertiser’s target audience that has a propensity to swipe,” the report quoted a Snapchat spokesman as confirming in an e-mail. On an average, Snapchat’s video ads get less than three seconds view time which has become a matter of concern for the advertisers. “Around 20 per cent of advertisers are already using goal-based bidding and it has helped them achieve up to 40 per cent efficiencies in cost-per-swipe and increased ad view time,” Snapchat noted. This new option is available to advertisers through the Application Programming Interface.

Just last month the company filed for an initial public offering, which put the messaging app a step closer to the biggest U.S. stock market debut since 2014. With inputs from IANS