Snapchat parent company Snap Inc. improves ad performance and revenue amid worsening macroeconomic conditions and privacy policy changes. We have taken strategic steps to improve.
The company is stepping up efforts to improve advertising effectiveness, especially in the APAC region, where it faces stiff competition from TikTok, Meta and Google.
Senior Executive Hires to Improve Advertising Performance
Snap has made several key executive hires to improve advertising performance and revenue.
Darshan Kantak, a former Google executive with experience in search advertising, has joined Snap as senior vice president of revenue products.
Kantak’s main focus is on improving ad formats and optimising the effectiveness of Snapchat ads. His appointment follows a reorganisation of Snap’s ad sales team last year after two key executives left the company for Netflix.
In addition to Kantak, Snap also hired Rob Wilk, a longtime Microsoft advertising executive, to lead ad sales in the Americas.
These hires are part of Snap’s broader strategy to strengthen its ad sales capabilities and improve ad performance.
Building a Performance Business in APAC
Snap’s APAC President, Ajit Mohan, will focus on strengthening the Direct Response (DR) funnel and Snap’s DR capabilities to build a Performance Business in the region.
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The company has made conscious changes and investments to develop new areas of expertise that add value to its partners and increase revenue for the platform.
However, his Snap efforts to build a performance business in APAC are being challenged by rapid changes in the digital advertising sector, adverse macroeconomic conditions, and the impact of Apple’s privacy policy changes.
These changes make it harder for apps to measure how ads can drive website visits and sales.
Improved advertising services and ensured security
To address Snap’s current challenges in the digital advertising market, the company improved its advertising services and ensured security for its users.
Snap includes age-appropriate layers to adjust responses to words appropriate for different age groups and provide transparency and oversight for parents.
The company also took appropriate action, including limiting responses and terminating accounts, when intentional fraud was detected.
Sales Team Expansion in India
Snap is expanding its sales team in India with a significant user base of 200 million monthly users.
The company is hiring a general manager and expanding its national sales and growth team to focus on building a bigger business.
In summary, Snap Inc. is making strategic moves to improve advertising performance and revenue in a challenging digital advertising market.
With key hires, new initiatives, and a focus on building a strong business in APAC, Snap is positioning itself for growth and success in the competitive digital advertising environment.