Reddit announces partnership with Moat to provide third party verification on ad metrics
As Reddit continues to build its ad offerings, and refine its platform to maximize advertiser appeal, another key element is assurance, and providing marketers with data they need to understand the performance of their on-platform ad efforts.
Today, Reddit has announced a new integration with Moat by Oracle Data Cloud, which will provide third party verification on Reddit ad views, moving the platform more in line with evolving industry standards.
As explained by Reddit:
"Our latest integration with Moat will now bring more third-party clarity and precision around Reddit ad viewability. It aims to deliver more comprehensive and meaningful campaign performance metrics to ensure our brand partners understand the impact of their advertising in order to maximize awareness, reach, and overall effectiveness on Reddit."
The deal expands Reddit's arrangement with Oracle - back in September, Reddit also added new brand safety options, powered by Oracle Data Cloud’s contextual intelligence tools. Those tools provide an extra level of verification to ensure brand messages don't appear alongside questionable content - which, given Reddit's history, is a key reservation for some businesses.
But as noted, Reddit is working to address those concerns. Back in June, in the wake of the #BlackLivesMatter protests, Reddit announced significant changes to its rules around hate speech and offensive behavior, which has since resulted in the removal of thousands of problematic subreddits. Many moderators had been calling on Reddit to take action on these groups for some time, but the platform had been trying to maintain its free speech ethos, while also facilitating growth.
But as every social platform has found, that balance is almost impossible to maintain, and with Reddit looking to also improve its business appeal, it made sense for it to update its approach. That's likely left some users offside, and may have reduced the app's overall usage, but in its latest update, Reddit said that it now sees 52 million daily active users, up 44% year-over-year. Reddit reported reaching 430 million monthly active users last December.
It's still a way off catching the bigger players, but Reddit does offer reach to very specific, very engaged niche groups, which will no doubt appeal to many brands looking to expand their digital marketing approach.
And Reddit says that its ads are generating results, beating benchmarks in their studies.
"In recent months, Reddit has been testing this integration with several brand partners across multiple industry categories. Across campaigns, the performance of Reddit’s native in-feed ads outperformed Moat’s in-view rate benchmark by up to 17%, demonstrating the value of Reddit’s advertising."
Now, you'll be able to confirm the same for yourself, via Moat's third-party measurement insights.
It's a good update for Reddit, which, as noted, brings it more into line with industry standards, while also advancing its business offerings.
https://www.socialmediatoday.com/news/reddit-announces-new-partnership-with-moat-to-provide-third-party-verificat/592345/
