Snapchat is encouraging brands and media buyers with discount offers in an attempt to boost its ad business, according to a news report.
Marketing news site Digiday reports that the offers appear to vary from agency to agency.
One media buyer told Digiday that Snapchat was offering a 10% bonus media coupon, another said it was offered discounts on ads bought on its self-serve platform. A third agency revealed Snapchat was giving 10% credit for any API buy completed through Snapchat.
Snap is under pressure to demonstrate growth after falling short of Wall Street estimates in its first quarter as a public company.
The report says Snapchat has offered incentives before, but this time it is being more “aggressive” about it, which could be a sign the company is struggling to meet its targets this quarter.
The incentives are reportedly running until mid-June, coinciding with end of Snap’s second quarter.
The move comes at a time when brand safety issues have led marketers to seek alternatives from Facebook and Google.