What Happened
On the heels of a less-than-optimal earnings report, Snap Inc. is releasing two new AR camera ad products as it aims to drum up more ad revenues. The popular messaging app introduced a new World Lens feature in February to let users embellish their surroundings with cute animations, now brands can sponsor those World Lenses in the same way they did with the face-altering Selfie Lenses. The sponsored lenses can now be targeted to specific audiences with a guaranteed number of impressions. Netflix and Warner Bros. are among the first advertisers to try out the AR-powered ad unit.
In addition, Snap is also making it easier for brand advertisers to customize Sponsored Geofilters down to specific locations, such as a school or a movie theater. Warner Bros. is promoting the film Everything, Everything with a branded geofilter, in addition to the sponsored World Lens, targeting high schoolers by featuring the name of their school. Moreover, the company is also reportedly ready to unleash branded stickers such as ones that feature Hello Kitty.
What Brands Need To Do
While slowed installs of Snapchat have worried some brand advertisers of the platforms’ growth potential, recent studies and surveys commissioned by TechCrunch concluded that U.S. Millennial and Gen Z users are staying loyal to Snapchat and in no hurry to jump ship to Instagram. As Snapchat continues to lead the charge in exploring AR camera effects and monetization, brands should consider taking advantage of the new camera-based ad products it offers to reach younger users active on its platform.
Sources: Marketing Land & AdWeek & Mashable
