Raisin Bread by MarketerHire - Reddit is diversifying its ads business

Welcome to the almost-weekend. Big moves are happening in ad tech, so let’s dive into all of it.

Reddit Signs 3 Ads Agencies to Boost Ad Sales

Reddit is continuing to diversify its Ads business by signing “three leading independent agencies as official partners.” The new agencies, Horizon Media, PMG, and Wpromote, along with Reddit’s flagship agency Tinuiti, will have access to benefits like “new advertiser incentives, enhanced measurement tools, bespoke insights, and early access to new ad product tests.” Reddit's in-house creative agency KarmaLab will also provide support.

Reddit has been trying to up its ad-sales revenue by simplifying its ad-buying process and going after global, niche businesses. These new partnerships are a way to woo more advertisers to the platform with added support for smaller businesses that may be overwhelmed by Reddit’s vast platform of extremely targeted subcategories.

Reddit is a contender for taking Twitter’s ad dollars since it boasts an extensive-but-segmented text-based community. By doubling-down on support for small-to-medium-sized businesses, Reddit is scaling scope rather than focusing on a single merchant category.

Google’s Testing a Cookie Replacement—Interest-based Audience Targeting Methods

Google has tested interest-based audience (IBA) targeting methods as a replacement for third-party cookies. IBA targeting methods are “a combination of privacy-preserving signals” that include “contextual information, the Topics API from the Privacy Sandbox, and first-party identifiers such as Publisher Provided IDs.” The goal is to preserve privacy for web users without eliminating important metrics for marketers to serve ads to their ideal customers.

During the first quarter of 2023, Google tested these methods and has just released the results. Conversions per dollar decreased approximately 1–3%, but “campaigns using optimized targeting or Maximize conversions bid strategies were less impacted by the removal of third-party cookies,” suggesting AI will play a significant role in a cookieless future.

Google, the current king of search, is previewing the new metrics marketers will most likely be employing post-cookies. Hopping on the machine learning that will ease this switch is a good move for marketers.

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Around the Web

Just Can’t Get Enough

Peaches. Not the fruit—we’re talking Princess Peaches from Mario.

Does your ideal customer regularly post on a Reddit subreddit? They also might be an avid “lurker.” Does the Reddit community naturally qualify as an interest-based audience targeting method? Only experimentation will tell. Reply and let us know your thoughts about advertising on Reddit!

Thanks for joining us, and we’ll see you Tuesday!