While Facebook gets raked over the coals, Snap is taking the opportunity to woo brands with some new ad-targeting features.
First up is a new “radius” targeting option, which brands can use to target Snap Ads and Filters around a specific point -- like a particular retail store or restaurant.
At present, brands can’t target groups smaller than 1,000, while radius options range from .63 to 62 miles.
Among other early adopters, the Hopper travel app used Radius targeting around airports to reach consumers who were likely to fly from a hub with a location-specific flight deal.
Nordstrom Rack used Radius targeting around its newest store to drive foot traffic from nearby shoppers.
In addition, new location categories will allow advertisers to reach audiences based on the type of location they presently occupy.
At launch, Snap is offering roughly 150 categories, including movie theaters, colleges/universities, sports stadiums/arenas, restaurants and hair salons.
Finally, Snap is also adding “foot traffic” insights, which give brick-and-mortar brands detailed information on Snapchat users who visit their location. This information includes total visits, visit frequency, age and gender, and most popular interests.
Making note of these and other issues, Citigroup analyst Mark May recently downgraded Snap’s stock.