Snap Inc.’s newest advertising product allows brands to purchase all video ad formats in a single ad set, enabling advertisers to optimize their campaigns toward their central goal or objective.
Multi-Format delivery includes all of Snap's video ad formats -- including Snap Ads, Story Ads, Collection Ads, and Commercials.
Ad sets will be broken out by ad format, allowing buyers to evaluate the efficiency of each format and how it contributes to overall brand performance.
By enabling Multi-Format delivery, Snap's ad-ranking system will determine where to fill inventory for an advertiser's given campaign budget, goal, and selected formats.
Snap said that while the platform’s core experience will remain relatively consistent, the company is focusing on the way that formats and various campaign criteria are selected within the purchasing experience, allowing for more flexibility for buyers.
The new product will also feature the platform's augmented-reality (AR) camera offerings by the second quarter of 2022.
As the first platform to launch a self-serve Lens offering back in 2018, Snap's continued focus on leading AR mainstream buying efficiencies for the market is present in Multi-Format delivery's ability to simultaneously optimize AR and video –– this is a first for the industry.
“We have made Multi-Format delivery as simple as an advertiser giving us creative assets for all ad products, optimizing against their goal, and delivering superior results. With this new offering, augmented reality ads will continue to shine as an accelerant to our suite of video ads,” says Peter Naylor, Snap's vice president of sales, in a recent statement.
Overall, Snap is hoping the launch changes the way brands and advertisers think about buying media on Snap, as they aim to drive performance through a more multi-product approach.