Reddit has announced updates to its new ads placement with Carousel Ads and Product Ads.
These new units, placed in the heart of Reddit discussions, provide an even more dynamic and compelling way for advertisers to scale to relevant audiences, deliver deeper value to users, and drive stronger, full-funnel performance among the hundreds of thousands of conversations that happen in Reddit communities every day.
The Carousel Ads have been redesigned allowing brands to show w up to six images or GIFs within the unit, all with their own clickable link to their respective landing pages. Reddit’s early testing of this redesigned format saw a 44 per cent increase in click-through rate (CTR) compared to its previous Carousel Ad format.
Reddit’s updated Product Ads allow brands to get in front of people when they are already in research mode, actively discussing with other users, and therefore primed to make a purchase decision. It also allows advertisers to get their relevant products and services in front of the unique, untapped audience that Conversation Placement delivers, given many of our users land in conversation threads directly from organic online searches.
“Around two in three redditors say they would purchase a product if they saw an ad for it on Reddit, which represents a huge, untapped market for brands to reach relevant audiences who are leaned in and ready to take action. Our interest-based communities, and particularly the conversations happening within those communities, is unique to Reddit and brings an unmatched opportunity for advertisers to reach the right people in the right context,” said Jim Squires, Reddit’s EVP of business marketing and growth.
“As we continue to scale our advertising business, we’re investing in what makes the Reddit community, and our ads business, so special: the richness of discussion happening between real people. Doing so allows us to get more brands in front of our users so they can discover new products and services they love, and these latest updates to our Conversation Placement is the latest example of our efforts to this end.”
Last week, the platform also announced that Durgesh Kaushik would be moving from its VP of APAC and emerging markets growth to a new role as the VP of international growth. He will lead Reddit’s plan to become accessible, localised, and culturally relevant through core product innovation and local community experiences.
“Being a truly international platform means everyone, everywhere, can successfully create and participate on Reddit. Growing and fostering local ecosystems that inspire a sense of belonging is not just core to our internationalization strategy, it’s core to the Reddit experience, and this is why leading with an international-first mindset for everything we do is so important,” said Kaushik.
“We’ve spent the last year proving our blueprint for international growth, which encompasses product, community, and content, and through this new role, I’m excited to apply this blueprint and further accelerate Reddit’s growth in different countries in 2024 and beyond.”
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