Back in late 2017, Digiday asked top publishers at their European summit which platform provided the best potential for monetization. Snapchat came last. Only 3% saw it as offering the best returns on revenue.
This could all change now that Snapchat opened up its advertising API to everyone. Join experiences that brands and marketeers that are experienced in using influencer marketing see the real potential of Snapchat. We are currently truly seeing the next steps into the platform’s commercialization. So let’s examine what the new Snapchat API offers.
The New Snapchat API for Marketing
In essence, the new API allows companies to develop their own ad software. In the past, advertisers needed to go through Snap’s direct team, use approved third party software or use the built-in Ad Manager.
Now, companies and agencies can bypass this complicated system and create tools like the ones used by selected partners such as Adobe, amongst others. This can include better analytics, more targeted campaigns, and most importantly: the ability to buy ads programmatically.
The Future of Snapchat
Obviously, the new Snapchat API is meant to boost Snap’s advertising revenue. In fact, the company expects to double the number of programmatically-bought ads on its platform. It has proved to be a successful strategy with their selected partners, gradually increasing their quarterly earning throughout 2017.
But what about the platform’s users? Will they react negatively to an increase in ads? Could we see a user exodus like we did with Facebook or even Vero? Perhaps traditional marketers ought to think twice before overloading this relatively untouched platform with more targeted adverts.