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Highlights:
Reddit’s Lead Generation Ads allow users to submit their details directly on the platform without redirecting to external sites, leading to a higher form submission rate and lower cost per lead.
Advertisers can automatically transfer leads to their CRM systems through Zapier, automating lead management.
Early beta tests show a 30% reduction in cost per lead and a 25% increase in submission rates for companies like LaunchDarkly, showcasing the format’s effectiveness.
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Reddit is changing how businesses collect leads with its new Lead Generation Ads. Last week, the company introduced Lead Generation Ads, available in public beta. This ad format integrated with Zapier, “empowers businesses to collect high-quality leads from Reddit's engaged and high-intent users more efficiently than ever before.”
Reddit’s Lead Generation Ads will be accessible to all global advertisers working directly with Reddit. This update is expected to provide a significant boost in lead generation, especially for businesses targeting specific Reddit communities.
Reddit's new Lead Generation Ads: What’s in for advertisers?
Reddit is great for finding high-quality leads because it has a highly engaged audience that’s actively discussing products and services, which helps businesses achieve better results with targeted ad campaigns. Therefore, Reddit's new Lead Generation Ads leverage the platform's unique environment to connect businesses with highly engaged active users. By enabling users to submit information like their name and email without leaving Reddit, this ad format enhances user experience and boosts lead quality.
More about the integration with Zapier
The integration with Zapier takes this a step further by automating the lead management process. Advertisers can now transfer leads into their CRM systems, improving 'speed to lead' and making it easier to manage and segment leads. Additionally, with connections to over 7,000 applications, this automation supports efficient and effective outreach.
According to Reddit, During its beta testing, the feature proved effective. For example, LaunchDarkly, a platform for managing software features, saw a 30% drop in lead costs. In other words, it became cheaper for the company to acquire each lead through Reddit’s new ad format compared to their previous ad campaigns.
LaunchDarkly also saw a 25% increase in the number of leads they received. This indicates that more people filled out and submitted lead forms through the new ads compared to their previous campaigns.
07/29/2024
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