Aiming to help its merchants with transactions that would provide more curated offerings to consumers, online marketplace Snapdeal has launched the latest version of its advertising platform – Snapdeal Ads.
Issuing a statement on Monday, the New Delhi-based company said that the latest version of Snapdeal Ads will help sellers improve their brand visibility, help to measure results instantly and drive online business, with the help of advanced advertising tools.
Tony Navin, senior vice president- Partnerships and Strategic Initiatives, Snapdeal, said, “Snapdeal Ads will allow sellers to reach their customers in a more precise manner, help build targeted campaigns, measure impact and return on investment on a real-time basis.”
Having 3, 00, 000 sellers currently, Snapdeal has a stated target of bringing one million merchants on board its platform over the next few years.
According to the press release, Snapdeal Ads enable merchants to target the right customers based on their browsing behaviour, geo-location and purchase history. Sellers can also perfectly aim their advertising campaigns for specific consumer groups while also participating in auction-based buying of ads inventory.
Furthermore, sellers can view detailed reports and simultaneously promote products through a range of different ad campaigns, the press release added.
“With this next generation platform, we have addressed the marketing challenges faced by our sellers by providing a simplified advertising panel to fulfil their diverse business requirements,” said Navin.
The platform was launched in November last year by a host of marquee strategic investors that includes Japan’s SoftBank, Taiwan’s Foxconn and China’s Alibaba Group. It also acquired Silicon Valley-based startup Reduce Data, a programmatic display advertising platform, in September last year.
Though currently dominated by the likes of Google and Facebook in India, ads are now being targeted as a potential revenue stream of substantial proportions for India’s e-commerce ventures.
In March earlier this year, media reports said, Bengaluru-based Flipkart was generating nearly $1 million in monthly advertisement sales, and was targeting to be the largest digital advertising platform in the country over the course of the next two to three years.
