Reddit is expanding its advertising offerings with a new ‘Conversation Placement’ that will sit within its conversation threads – in the space between the original post and the first comment. According to Reddit, this allows advertisers the opportunity to reach beyond Reddit feeds and better connect with users within a very engaging space.
According to Reddit, users contribute to more than 350,000 conversations on the platform every day, with 42% of the average Reddit user’s time spent in a conversation thread. As such, Reddit claims advertisers can reach audiences where “they are most engaged in their passions and interests”and advertisers can drive incremental reach through Conversation Placement.
Reddit claims this is a first for the firm, allowing for brands to reach untapped audience, many of which land in conversation threads directly from SEO searches and are unreachable anywhere else on the platform. Advertisers who target both the Reddit Feed and Conversations Placement can reach millions more unique users than when targeting with a single placement, increasing their overall reach by up to 20%.
When it comes to brand safety, Reddit says the new feature offers all of the same foundational brand safety features regardless of inventory type, with Oracle Data Cloud’s contextual intelligence applicable to the placement via our Limited Inventory tier. To date, Reddit has beta-tested Conversation Placement with more than 600 advertising partners for almost 12 months, running campaigns across entertainment, consumer tech, finance, publishing, and CPG, resulting in significant success for partners across all industries, verticals, and campaign objectives. In aggregate, beta test partners saw a 9% average increase in clickthrough rate (CTR), 10% higher downstream conversion rate (CVR), and 23% lower cost per click (CPC) rate when using both Conversation placement and Feed.
Test partners have included HBO Max, Adobe, Monday.com, The Washington Post, and Nespresso. Adobe has been leveraging the Conversation Placement for their evergreen campaign to reach students since the last quarter of 2020, Reddit claimed in a blogpost.