Convincing said advertisers that Snapchat is a worthy marketing vehicle has thus far proven difficult, but a new move from the company could make it easier.
Snap is betting that the key to Snapchat’s turnaround in investors’ and marketers’ eyes is metrics—specifically marketing mix modeling. The new measurement model will allow third-party analytics firms to track how ads are affecting marketing partners’ sales, which enables analytics providers to show marketers which ads get the most engagement and views and where other advertisers spend the most money.
Among the metrics the MMM program will track are advertisers’ ROI and ads’ affect on sales.
Similar measurement tools are already available for platform rivals Facebook, Twitter and Pinterest. That means the move is a gamble for Snapchat, as marketers will be able to directly compare their ad performance on Snapchat to other platforms.
Analytic Partners, Marketing Management Analytics, Neustar and Nielsen are among the first analytics firms to have access to Snapchat’s MMM program.