Reddit today roll out CPC (cost per click) ads, the first performance-driven ad offering/bid type on Reddit Ads platform. Reddit says CPC Ads is the first major step in their effort to ramp up Reddit’s performance business.
CPC buys will run across all platforms and devices and will function as either link or Promoted Posts (including video).
For the last several months, Reddit has been beta testing CPC bidding with more than 50 advertisers across a number of verticals––including Hired and Kabam to name a few–– and most advertisers have seen an improved return on advertising spend of up to 50%.
Reddit now offers 4 different campaign objectives – reach, video view, traffic, and conversions – associated with CPM, CPV, and CPC bids.
According to Reddit, in 2019 there will be a focus on broadening the advertising tools and building marketplace capabilities with performance advertising under the leadership of Shariq Rizvi, Reddit’s new VP of Ads Product & Engineering.
“While cost-per-click advertising isn’t innovative, in itself, the launch marks a big moment for the Reddit Ads business,” said Zubair Jandali, Reddit’s VP of Brand Partnerships. “This is a point of inflection that helps get us to parity in the market and will change the way advertisers think about our capabilities.”