Reddit sets eyes on profitability with revamped self-serve ad platform
Reddit has launched a revamped self-serve advertising platform that includes improved analytics and a redesigned interface, signs the platform is getting serious about advertising.
Reddit updates self-serve ad platform
Key to the update is more detailed reporting of metrics. Previously advertisers could only view the performance of the campaign over the entire time. Now they can track particular weeks, months, days in addition to CPM, CPC, and click through rates.
It comes at a time when digital advertising has been called into question for the murkiness of the digital supply chain.
Last year Facebook admitted it had misreported key metrics to advertisers, while more recently some of the world’s biggest advertisers have halted spend on Google after the company failed to prevent their ads from appearing next to controversial content on YouTube.
The update includes a redesigned interface “to be more user-friendly and easier on the eyes,” the company wrote in a post announcing the update.
As well as better tracking, advertisers can now pay after they post an ad, where previously they would have to pre-pay for the ad and Reddit would bill or refund the difference, a complex process. Advertisers can also for the first time have more than one post per campaign.
The old system will remain in place for the next few months but will be discontinued in the coming months, the site said. Existing campaigns will continue to run, but the campaigns and creatives are not transferable to the new system.
The update comes a week after Reddit announced it would add user profile pages to its company, a personal touch that makes the site more accessible to the internet community, a move that could see it rival social networks Facebook and Twitter.