Snap CEO Evan Spiegel has long pitched his company as the anti-Facebook, and it appears to be paying off as some advertisers fleeing Facebook plan to spend more with Snap.It's been on an ad sales and user growth tear, leading its stock price to the highest level since its 2017 IPO.
Ad growth has followed. David Roter, Snap's VP of global agency partnerships, told Business Insider that advertisers had committed twice as much money to Snap in 2020 than they did in 2019. Snap has long positioned itself as the anti-Facebook, safe for both teenagers and advertisers, by highlighting the positivity of its user base in an attempt to transcend early reports of explicit content. It has also largely avoided the privacy controversies surrounding platforms like Facebook and TikTok, thoughSome media executives remain skeptical of Snap's safety claims and its potential to approach Facebook's scale and performance.
Snap has evolved its ad pitch over the years. It's long sold direct-response ads that compete with Facebook ads. In its latest effort to capture more e-commerce dollars, the company released an ad product last month that automatically updates product prices and availability. Savannah Sanchez, an advertising consultant that runs Facebook, Snap and TikTok ads for advertisers like eyelash brand Doe Lashes, said that the focus on e-commerce is making Snapchat a bigger buy for advertisers wanting to reach young people.
Nobody even uses Snapchat anymore, everyone’s on Instagram (which FB owns)
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