Key points:
- Marin Software’s stock price surged 59.4% after integrating Snapchat ads.
- The ad company has now integrated Snapchat’s ad platform into MarinOne.
- Investors cheered the news that would provide greater visibility for advertisers.
The Marin Software Inc (NASDAQ: MRIN) stock price surged 59.4% during aftermarket trading after announcing the integration of its MarinOne market software with Snapchat’s marketing API to give advertisers better insights into their advertising activities on the platform.
Advertisers will have better insights into their ad campaigns on the social media platform while combining the same with MarinOne’s industry-leading AI bidding, forecasting, budget pacing, performance insights and recommendations.
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The integration will help advertisers better tailor their Snapchat ad campaigns and other marketing activities by giving them insights into how users interact with their ads, including areas where they could optimise their marketing and advertising campaigns.
Investors cheered the announcement, given the challenging environment most businesses face with Apple’s new privacy features on Apple devices that make it hard for most advertising to track the behaviour of their target consumers and tailor their ads to suit them.
MarinOne has advanced analytical grids that provide flexible reporting within and across Snapchat campaigns. The platform also allows users to track their paid media metrics from multiple search, social, display, and e-commerce platforms from the same dashboard, comprehensively analysing their performance.
The social media platform has 347 million daily active users, which advertisers can target to generate sales and raise brand awareness. MarinOne claims to have processed ads worth over $40 billion in the 15 years it has existed.
Chris Lien, Marin’s Chairman and CEO, said: “Snapchat has an enormous reach with millennial and Gen Z shoppers who hold $4.4 trillion in global spending power. This gives brands an incredible opportunity to drive brand awareness and revenue with their future customers,”
Adding:
“We look forward to providing our customers an avenue to integrate our powerful reporting, advanced bidding, and campaign management tools to achieve the best performance on the Snapchat platform.”
*This is not investment advice. Always do your due diligence before making investment decisions.
Marin Software stock price.
The Marin Software share price surged 59.43% to trade at $2.79, rising from Monday’s closing price of $1.75.