Snap announced on Tuesday that advertisers can now buy multiple ad format types within a single ad set or ad group with the same budget allocations, bid type, targeting and schedule.
Previously, a Snap ad set could only contain one format type within a single ad set.
With the multi-format delivery, which has been tested for the past few months, the company will optimize delivery based on the most effective placement for each ad within an ad group tied to a specific campaign goal.
According to AdExchanger, for starters, the multi-format delivery will include all Snap’s video formats, including Snap Ads, Collection Ads, Story Ads, and First Commercial ads. Snap plans to introduce self-service augmented reality formats for multi-format delivery by the 2nd quarter of 2022.
“Easily the biggest trend I see today is that everyone is looking for measurable results,” said Peter Naylor, Snap VP of sales for the Americas. “That’s in the zeitgeist and so it makes sense for us to go this way.”
“When we allow machine learning to do its thing, we’re opening the aperture of possible inventory where an ad can run. It might be somewhere a brand hadn’t even conceived of before,” Naylor added.
A Snap Inc investor sued the social media company last Thursday, alleging that it downplayed how Apple’s ATT threatened its ad revenue.
The lawsuit filed in Los Angeles federal court comes three weeks after Snap shares fell 25% on news that Apple’s privacy changes had hurt Snap’s ability to target and measure digital advertising.
The Santa Monica, California-based social media company said revenue was $1.07 billion, up 57% for the three months ending Sept. 30, slightly below analysts’ expectations and its own guidance.