This month saw Snap Inc continue their seduction of advertisers and agencies, with the release of two new measurement products. The product that has caused the most excitement is an offline measurement tool which, in partnership with Live Ramp, will give advertisers the ability to more accurately measure the effect the platform has on driving offline sales.
The tool, called Offline Sales Impact (OSI), has already been trialled with some large brands such as Cadbury and Oreo. With both brands having reported a positive effect on sales, Snap has been given the opportunity to showcase their ability to reach users in an innovative and effective way. The comparison being drawn especially against the likes of Facebook and Google, who already have similar measurement capabilities in place.
Offline measurement for digital is still somewhat lacking across the board, so this move comes as a positive step. Larger platforms are taking offline measurement more seriously, keen to demonstrate the role and potency online advertising spend can deliver and drive offline results.
The announcement also frames Snapchat as a platform in a much more positive light. When they first released ads into the app, measurement seemed like the very least of their concern. Advertisers for a long time had to take Snap Inc at their word in terms of results, with little or no third party verification in place. Video ads were launched in a haphazard way, with views being counted at a single second and little application of tracking in the beginning. This has all changed in recent times, and for the better. Just within the verification space, opening up to MOAT and Integral Ad Science has made a real difference to planners, with the assurance that comes with third party tracking.
The second measurement release looks at how Snapchat campaigns drive impact in tandem with above the line activity. Marketing Mix Modelling has been developed with trusted measurement partners, Nielsen and Millward Brown, to justify media spend with the Snapchat platform by understanding more about how consumers are engaging with all of the different channels.
Introducing Marketing Mix Modelling is a real display of faith from Snap, but something that should be rewarding for both them and advertisers in the long term. The company clearly believes in the strength of their ad platform and the engagement of their users, which they’re now looking to prove after a turbulent and difficult direct listing launch on the NYSE, and continued scepticism from advertisers yet to test its capabilities.
Hopefully the move will go someway towards alleviating any measurement barriers-to-test from advertisers and open up what is an exciting and engaged platform to more brands. And finally we can see the results.