The news: Snap debuted a new ad suite for marketers and developers, offering an “App Power Pack” that includes new bid strategies, ad formats, optimization strategies, and targeting capabilities to boost ROI, per MediaPost. The suite includes a new AI-powered cost-per-acquisition (CPA) bidding feature that enables advertisers to have a target budget and CPA that Snap will use to optimize delivery.

Beyond new features, the ad suite will make Sponsored Snaps—Snapchat’s chat-based ad offering and a bright spot of the company’s Q2 earnings—available to advertisers.

Zooming out: The debut is part of Snap’s overall strategy to gain advertiser attention after a lukewarm quarter marked by ad glitches.

• Snapchat recently released a study on the value of attention metrics in advertising, with the goal to become a leader in a metric that advertisers are increasingly turning to for measuring success.
• The company expanded its Partner Program in April to target small- and medium-sized businesses, offering exclusive features to attract key audiences likely to turn to Snapchat for more affordable ad options than big players.
• Snap continues to introduce new ad formats beyond Sponsored Snaps, including Sponsored AI Lenses to capitalize on its strength in augmented reality (AR) and attract advertiser interest.
• And Snapchat is investing in lower-funnel ads to encourage brands to increase spending—a strategy that has helped bolster Snap’s ad revenues and offset broader concerns about its ad capabilities.