What’s good for the goose is good for the gander — and in this case, Facebook/Instagram is the goose and Snapchat is the gander.
The companies do switch places from time to time. As many know, Facebook and Instagram recently adapted key features from Snapchat for their own purposes and integrated them into their apps. But now Snapchat is appropriating something from Facebook: the inspiration for its new suite of self-service ad tools.
Snapchat’s aim, of course, is to spur robust competition for advertisers’ social media ad budgets.
According to eMarketer, Snapchat has over the past few months “steadily introduced ad capabilities and tools that are similar to those offered by leading sellers of mobile ads, including Facebook and Google.”
It appears that Facebook and Instagram are worth imitating.
“Those two companies in particular have set a high bar for any new advertising platform entering the market, particularly in the areas of campaign reach, audience targeting, performance measurement, and automated and self-service buying,” explained eMarketer principal analyst Cathy Boyle.
The end of the year could show Snapchat’s net digital ad revenues growing by 163.3 percent, with sustained growth forecast through 2019.
The new product? “Snapchat Ad Manager,” expected to be popular among small and medium-sized businesses.
Starting next month, marketers will be able to buy many of Snap’s ad formats, including Snap Ads and long-form video, based on targeting—including age, gender, and device—as well as bid type, like dynamic CPM and goal-based bidding.