What is Happening?
This week popular messaging app Snapchat announced the global rollout of its new advertising product, Dynamic Ads.
Taking a page from Google & Facebook who already offer a similar successful format, Snapchat's Dynamic Ad product now allows advertisers to automatically create ads in real-time, using their existing product catalogue data feed.
Snapchat's Dynamic Ads provide a variety of mobile-ready templates for advertisers to choose from and use interest-based targeting to serve the ads to Snapchat's audience of 229 million daily active users.
🆕 Wednesday this week marked the rollout of Product Ads across international markets such as the U.K., Germany, the Middle East and Australia.
What Does it Mean?
Snapchat has been a platform that has often proved challenging for ecommerce brands that have more than a handful of products.
Dynamic Ads will help brands on Snapchat better manage price and stock changes as the data for this ad type will be feed-driven 👌.
Additionally, the launch of Dynamic Ads has come at a time where many brands are feeling Facebook and Instagram are showing signs of becoming harder to scale, and by offering an alternative platform to reach Gen Z and Millennial audiences Snapchat has created an alternative way for brands to target these users.
Snap noted this week that online sales in April grew to a 10-year high, representing a 23.8% year-over-year increase, according to data from IMRG (Interactive Media in Retail Group).