Object-based targeting allows companies to focus the content of an advertisement to match the content posted by a consumer. If you post pictures of dogs, this technology will marry canine-themed advertisements to appear in your social media.
With real-time social media playing such a big role in the lives of consumers, it was only a matter of time before somebody grabbed ahold of the reigns on real-time advertising. Snap Inc. took a big leap last year by patenting a new technology that will change real-time advertisements in a central way. The technology will allow advertisers to target Snapchat users in a uniquely personal way.
Snap Inc.’s object-based targeting will enable advertisers to promote their product based on the content that Snapchat user posts to their account. If a user snaps an image of a new pair of Nikes, they’re likely to see ads for footwear.
Snap Inc. has yet to enable the technology on Snapchat, but it’s expected that the new features will bring in a significant revenue increase and user growth. In fact, they expect to make between $500 million and $1 billion in 2017 — a big jump from the $59 million they made in 2015.
Consumers repeatedly respond more to image-based advertisements than to written content, so object-based targeting offers a way to speak the language of your consumer audience. Behind Facebook, YouTube, and Instagram are the top social media sites. Both of these rely almost completely on visual content. Not only is it more engaging, but visual content makes your advertisement more memorable. Research shows that when people listen to information, they’ll remember 10% of the information three days later. If that information is paired with a relevant image, they’ll remember 65% of the information three days later.
Snapchat’s new feature will mean that advertisements can be targeted even more specifically than they already are. Advertisers will be able to respond to users automatically and instantaneously, virtually serving up a user’s interests on a silver platter.