Reddit is introducing a brand new advert format that appears much like posts made by customers on the platform, the corporate announced on Thursday. The launch comes as Reddit is readying its initial public offering (IPO). The brand new advert format, known as free-form advertisements, is designed to really feel much like the content material that customers share with one another in an effort to assist advertisers get most engagement. Though the brand new format could also be attractive to advertisers, advertisements that appear like common posts seemingly received’t a be welcome addition for customers.
Advertisers can use the format to mix a number of media varieties, together with picture, video and textual content with the assistance of ready-made templates. Reddit says the advert format is impressed by one of many platform’s hottest publish varieties, the megathread, which is a type of one-stop-shop for discussions about in style subjects. Just like megathreads, free-form advertisements are supposed to assist readers get the data they want rapidly. The corporate says the brand new advert format can be a great way to do issues like launch a product or introduce a model to a brand new viewers.
Because the advertisements appear like common posts on Reddit, the one manner customers will have the ability to decide between them and normal posts is thru a “Promoted” label displayed subsequent to the corporate’s identify.
Picture Credit: Reddit
In early testing of the brand new format, Reddit discovered that free-form advertisements outperform all different advert varieties in common click on by means of price (CTR) by 28%, together with elevated neighborhood engagement when feedback are enabled.
“Free-form ads give advertisers the flexibility to build an ad of any length, using multiple media types, with a look and feel that’s native to the platform,” stated Jim Squires, Reddit’s EVP of Enterprise Advertising and marketing and Progress, in a blog post. This format encourages a mixture of content material, context and creativity from manufacturers, whereas driving sturdy efficiency and model consciousness.”
The brand new advert format is out there in the present day to all advertisers on Reddit globally by way of the Reddit Adverts Supervisor.
Right now’s announcement comes a number of days after Reddit introduced a suite of tools, known as Reddit Professional, to assist companies develop an natural presence on the platform. Reddit is probably going searching for so as to add extra manufacturers to its platform and presumably convert them into paying advertisers. The launch marked the primary time that Reddit provided free instruments to assist companies with their social technique.
