• Snap, the firm behind Snapchat, globally launched “multi-format delivery,” enabling brands to purchase content on Snap’s marketplace in multiple advertising formats at once.

• The new product is applicable for all of Snap’s video ad formats including Snap Ads, Story Ads, Collection Ads, and commercials. Snap, which was the first platform to launch a self-serve augmented reality camera lens offering, expects to extend this service to Snap’s lens auction service by Q2 2022. 

• The firm believes that this would shift ad buying on Snap toward a multi-product approach where marketers can tailor ad purchases for the format that suits their marketing budget and price. The multi-format delivery will provide performance reports segmented by ad format, allowing marketers to assess the effectiveness of each channel. 

<ul><li> Analyst QuickTake: Next-gen technological advantages such as 5G are expected to create new customer touchpoints and open up new customer engagement channels for brands. Snap’s latest product offering strengthens the case for social media advertising, enhancing the use case for marketing automation disruptors in the social media management space, such as Sprout Social and Hootsuite .</ul>