Advertisers have been using Snapchat as a way to advertise their products and services for years, and advertisers have used the service to target their message, according a new study by a New York ad industry group.
“Advertisers are using the platform to target advertising to people that they’re already targeting in their marketing campaigns,” said Andrew Bovey, executive director of the Advertising Bureau of the National Association of State Directors of Advertiser Relations, in an interview with Reuters.
“It’s a great platform for them to target people and their products.
It gives them an additional source of revenue that they can leverage.”
The report by the association, which represents companies in the advertising and marketing industries, found that Snapchat advertising accounted for a total of more than $17 billion in revenue last year.
It also said that advertisers spent about $17.6 billion on advertising during the third quarter of 2017, compared with $17 per user in the same period last year, according the study.
Bovey said that as of April 1, advertisers had spent $18 billion on Snapchat ads, up by about $8 billion from the same time last year but down from a record high of $20 billion in 2017.
The report said Snapchat’s growth is fueled by the fact that it allows advertisers to target consumers on more than just a “snaps” basis.
“Snapchat’s growth in terms of people that use the platform is primarily driven by the way that advertisers are able to target individuals based on their current and future demographics,” he said.
“And it also allows for more targeting opportunities in terms the fact Snapchat is more than an app, it is a service.”
The study also said advertisers are using Snapchat to target advertisements to people who are already targeting them, rather than to new users.
“The ad industry is seeing the opportunity for Snapchat ads to be more relevant to their audience and more relevant for the way they sell their product,” Boveys said.
“That is an interesting dynamic because for consumers, it may be relevant to them to have the advertising message to help them understand what they are buying, and that is a very important thing.”