Snapchat has officially launched a new advertising format called , which lets advertisers and brands promote their products in a carousel format. Collection Ads have been designed to display four images which users can click through to specific product pages.
The move is part of Snapchat’s growing commitment to bolster its mCommerce ambitions.
Links from Collection Ads open directly within Snapchat although the company has already said it has plans to install deep-links to other sites.
For now, the company will not allow for retargeting based on audience engagement with Collection Ads. However, brands and retailers are being given more options to use and test their creative assets and optimise them for adverts.
Snap said that retailers on the app were seeing 4.1x to 17x higher engagement rates with Collection Ads.
In addition, the company announced that advertisers were now able to import their product feeds to the Ad Manager. Furthermore, the company announced a series of advanced targeting tools for Snap Pixel, its conversion tracking tool. Advertisers will be able to create custom audience lists to reach audiences based on site visits.
Meanwhile late last week, eMarketer downgraded Snap’s ad revenue forecast for 2018 from $1.03 billion to $662.1 million citing lower ad prices due to the company’s continued programmatic transition.