Key Takeaways from Snapchat Q3 2022 Report
The Snapchat Q3 2022 report highlights significant updates for brands and advertisers, new functionalities and inclusions, daily active usage, and more.
FY 2022 has been sunny for Snapchat so far. It is also evident in the platform’s Q3 2022 report which highlights how user frequency has increased and revenues have also beefed up, supported by AR-enabled advertising and shopping solutions along with content offerings.
Augmented Reality & Camera
- Snap unveiled several new features and capabilities in the latest Lens Studio release, including Spatial Persistence, Two Hands Tracking, Voice ML’s Question Answering Service, and Face Occlusion
- Snap made significant strides in the expansion and testing of the AR creation suite and has now onboarded over 15 new beta partners who are already designing Shopping Lenses created with our AR Image technology
- Snap continued investing in Dynamic Ads for Commerce and Travel, focusing on catalog onboarding experience improvements, machine learning improvements in ranking and delivery, and ad format updates that improve outcomes for advertisers
- It continued investments in ranking and optimization to deliver measurable business outcomes to advertisers and rolled out more than 15 new machine learning models, which improved performance, pricing, and conversion rate of App and Web-related bidding goals
- The company improved Snap Pixel performance and Conversions API (CAPI) coverage and the quality of server-to-server integrations by collaborating closely with customers and starting a program focused on our enterprise clients
Also Read: Snapchat introduces AR Diwali filters for local sweet shops
- It launched the capability to execute 2-layered Lift tests, which enables advertisers to measure aggregate ROI while simultaneously running A/B testing; and also improved in-app survey sample collection, which enables brand advertisers to more confidently measure the returns of their brand campaigns
- Snap invested in cross-border solutions which enable global advertisers to improve the personalization of ads for Snapchatters through multi-language ad sets and new first-party location targeting options.
Content Offerings & Consumption
- Total time spent watching Spotlight content grew 55% year-over-year
- Daily average time spent for Snapchatters 35 and older watching Shows and publisher content increased by more than 40% year-over-year
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