Giving more controls to the advertisers, Snapchat is using a recently rolled out machine learning technique — goal-based bidding — through which it determines the users who are most likely to engage with an advertisement on the app. According to a report on AdAge, this type of bidding lets advertisers set goals on their campaigns beyond just views on ads and advertisers can bid on engagement with their ads when the desired outcome of the campaign is to have people swipe on the ads. Also Read - Snapchat celebrates Friendship Day with new Lenses: Here's how to use itAlso Read - 10 most downloaded mobile apps in 2021 so far: TikTok, Facebook, WhatsApp, more
“Advertisers decide how much they value a swipe, and Snapchat automatically optimises bidding and delivery to a subset of the advertiser’s target audience that has a propensity to swipe,” the report quoted a Snapchat spokesman as confirming in an e-mail. On an average, Snapchat‘s video ads get less than three seconds view time — a matter of concern for the advertisers. “Around 20 percent of advertisers are already using goal-based bidding and it has helped them achieve up to 40 percent efficiency in cost-per-swipe and increased ad view time,” Snapchat noted.
This new option is available to advertisers through the Application Programming Interface. ALSO READ: Facebook testing Snapchat-like photo frames, may soon turn comment threads into chats