VideoAmp moves into augmented reality with Snap for video ad planning
Marketers need data to support their investment if they want Augmented Reality to become a powerful component of their advertising efforts. A recent partnership between Snap and VideoAmp seeks to provide cross-platform analytics while assisting in the achievement of that objective.
VideoAmp’s cross-platform planning solution will include Snap’s first-party data, video, and AR inventory via a partnership between the instant messaging app and the TV measurement and currency provider.
According to an announcement from the firms, VideoAmp’s current video planning features will provide marketers the tools they need to investigate and test new AR formats as AR use grows. Given that over 300 million Snapchatters interact with augmented reality on a daily basis, Snapchat claims that assisting partners in making plans for new formats like AR is crucial.
Advertisers will be better equipped to target viewers on digital, streaming, and linear TV channels by knowing where to allocate their resources.
Along with its core advertising, Snap now has the autonomy to do additional measurement and planning, according to the businesses. Additionally, agency partners may use the reach planning and measurement tools provided by VideoAmp to learn more about how their Snapchat campaign affects KPIs like incremental reach, TV buys, and TV tune-in.
The partnership comes soon after Snap’s research from last month, which discovered that combining augmented reality with video generates five times more active attention than utilising other social media.
‘Active attention’ is defined as the proportion of the advertisement duration that viewers’ eyes stay on the screen, according to a research conducted in collaboration with Omnicom Media Group (OMG) and Amplified Intelligence. The eye-tracking equipment of Amplified Intelligence tracked this. According to the study, the attention given to video advertising alone on Snap is twice as high as that of identical inventory on other platforms. The combination is further enhanced by adding Snap’s AR filter Lenses.
According to Snap/OMG, sharing AR experiences has an amplifying impact and enhances both short-term and long-term brand preference when combined with video.
In a recent news release, Pete Bradbury, Chief Commercial and Growth Officer of VideoAmp, characterised the company’s collaboration with Snap as a groundbreaking development for cross-platform marketing and the sector.
According to Alexander Dao, global director of Snap Inc.’s Agency Development & Sales Partnerships, the agreement gives marketers more choices for strategising and gauging their efforts across video and innovative augmented reality formats.
At the press conference, OMG’s chief activation officer, Megan Pagliuca, also mentioned how, across all platforms—linear TV, social networking sites like Snap, or video streaming services like CTV—viewers’ interactions with video content were becoming more diverse and fluid.
She states that the team’s goal is to understand these complex consumption patterns and make wise decisions in response. Comprehending the way users watch videos on Snap will enable it to achieve its objective of offering all-inclusive cross-channel video scheduling.
According to Snap, it assists marketers in reaching over 800 million monthly users of Snapchat, out of 414 million daily active users globally—of whom 25% are situated in the United States. Revenues for the corporation increased from $2.5 billion in 2020 to $4.6 billion last year. Business of Apps reports that Snapchat’s net loss dropped to $1.3 billion in 2023, marking the company’s first profitable quarter since Q4 2021.
While suffering through difficult internal constraints that resulted in the resignation of CEO and founder Ross McCray in January and the layoff of 20% of the company’s staff, VideoAmp has been expanding its business. Since then, VideoAmp and Comscore have been the only two measurement suppliers to have approval from the U.S. Joint Industry Committee for the certification of their measurement datasets as national cross-platform currency appropriate for TV ad agreements.
At the end of April, VideoAmp announced the addition of new senior personnel to its sales team and said that their currency will ensure over $1 billion in ad revenue by 2024.