Last week, Reddit announced the launch of two new products – Contextual Keyword Targeting and Product Ads.
These new products could be game-changers for advertisers, as they’ll now be able to get in front of their target customers more effectively which could ultimately lead to better quality clicks and more conversions.
What are these new products?
Contextual Keyword Targeting
This allows advertisers to appear in active conservations on Reddit, containing/about their chosen keywords. Advertisers can input relevant keywords, create ad copy containing those keywords and show ads to Reddit users that are interested in those terms.
Also, and very importantly, ads can also appear in older, evergreen threads, providing longevity for advertisers.
“We are very excited to see Reddit’s ads product suite expand. Contextual keyword targeting is a fit with the inherent nature of Reddit users, as well as discoveries of Reddit content via search queries,” said GroupM Vice President and Global Head of Social, Amanda Grant.
Product Ads
Much like product ads that we see on other platforms (Google, Facebook etc) these product ads will contain details such as: description, price, call-to-action etc. And the beauty of it is, if you’re already using these ads on other platforms, you can easily import the same products to Reddit Ads Manager.
Reddit claims that redditors are very high-value customers, they say that redditors:
- make 2x more category purchases
- spend 2.5x more per purchase
- are +56% more likely to talk positively about a brand online
- are +46% more likely to trust a brand that advertises on Reddit
Reddit Chief Revenue Officer, Harold Klaje said, “We’ve known for over a decade that people come to Reddit to talk about the products they love – take r/BuyItForLife for example, a community of over 1.5 million redditors who have been sharing recommendations and advice about their lifelong, must-have purchases since 2011. These updates will uplevel the search-and-discover experience for both brands and our users by tapping into our differentiated value as a hub for actionable conversation”.
Here’s an example of what the ads look like:
Both of these new products are available in Beta now, for all qualified Reddit advertisers, globally.
To find out more about Reddit Ads, check out: https://browsermedia.agency/blog/an-introduction-to-reddit-ads/
