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Snap is offering free ad credits to advertisers running vertical video ads on other platforms.
Why it matters: It's an attempt to lure more advertisers onto their platform from competitors like Instagram.
Advertisers are being notified of the opportunity from Snap sales reps, who are primarily going after app install, e-commerce and other mid-small-sized advertisers.
It isn't all bad news. Snapchat has historically had a creative barrier with smaller advertisers who didn't have the capacity to create vertical video ads — Snap's only accepted video ad format. Now, they can onboard new advertisers that have experimented with the technology elsewhere.
- The company launched Snap Publisher tools over the summer to make these challenges easier, but some advertisers that have historical relationships with Instagram may opt to test the technology with a bigger partner before turning to Snap.
- Snap Ads are cheaper than Facebook ads, which may help lure some mid-market advertisers over.