News broke this week that Snapchat is rolling out a new measurement program to combat what marketers believe is one their biggest faults, the lack of ad tracking and measurement tools. This release comes on the heels of other reports that Instagram stories daily use have surpassed Snapchat. Up until now, Snapchat was not able to provide marketers a way to measure an ads ROI. However, Snap MMM Partner Program is going to “afford Snapchat advertisers, even more, flexibility and precision in measuring their campaigns,” as said on their blog.
Snapchat’s marketing mix modeling program will measure all marketing inputs, so media buyers will have the opportunity to push clients to spend more. The MMM program works with third-party data trackers Nielsen, Analytics Partners, Neustar Marketing and Marketing Management Analytics. The program has shown promise in tests before its release. Neustar reported that Snapchat drove an average ROAS of $14.33 in movie release campaigns. Which according to their blog is “more than five times the category average” for movie release campaigns.
The new MMM Partner Program will allow media buyers to have the opportunity to push clients to spend more.
These new measurement tools are going to allow marketers to compare past campaigns and cross channel performance by tracking and isolating return on ad spend and sales lift on specific ad formats. These metrics are crucial in determining the success of a campaign. Snapchat has also enhanced their first-party location measurement solutions so that advertisers are able to see what types of Snapchatters are visiting their stores. This, in turn, will help marketers understand their customers and better their targeting on future campaigns.
Just when people were starting to count Snapchat out, they threw their hat back in the ring. The Snap MMM Partner Program gives advertisers and marketers another reason to consider Snapchat when developing a campaign. With a plethora of new tools, Placed acquisition, Snap to Store, Snap Publisher and now Snap MMM, Snapchat is hoping to become the best mobile platform for advertisers.