In a move to lure its existing merchants, eCommerce major Snapdeal has launched the latest version of its advertising platform - Snapdeal Ads. The company claims that Snapdeal Ads will help merchants transacting on its platform to provide more curated offerings to consumers.
The company which is India's largest online marketplace in terms of sellers, said in a company-issued statement that the latest version of Snapdeal Ads will help sellers to improve their brand visibility, help measure results instantly and drive online business, with the help of advanced advertising tools.
As per Tony Navin, senior vice president - Partnerships and Strategic Initiatives, at Snapdeal, Snapdeal Ads will allow sellers to reach their customers in a more precise manner, help build targeted campaigns, measure impact and return on investment on a real-time basis.
The portal has more than 3,00,000 sellers at the moment and has a target of bringing one million merchants on board its platform over the next few years.
According to the press release, Snapdeal Ads will now enable merchants to target the right customers, based on their browsing behavior, geo-location and purchase history. Sellers can also tailor their advertising campaigns for specific consumer groups, while also participating in auction-based buying of ads inventory.
Additionally, they can view detailed reports and simultaneously promote products through a range of different ad campaigns, the press release added.
The company, which is backed by a host of investors, including, Japan's SoftBank, Taiwan's Foxconn and China's Alibaba Group, launched the platform in November last year. It also acquired Silicon Valley-based startup Reduce Data, a programmatic display advertising platform, in September last year.
Ads are being targeted as a potential revenue stream of substantial proportions for India's eCommerce ventures, but are currently dominated by the likes of Google and Facebook in the country.
In March earlier this year, media reports said, Bengaluru-based Flipkart was generating nearly $1 million in monthly advertisement sales, and was targeting to be the largest digital advertising platform in the country over the course of the next two to three years.