After going public back in February, Snapchat's been working to improve its ad options in order to maximize revenue opportunities and demonstrate growth potential to the market.
Among the various updates on this front, they released their self-serve Ad Manager tool in June (which they updated only recently), they've added the capacity to create and buy custom Geofilters within the app itself, and they launched their new Snap Publisher tool which simplifies the ad creation process.
With the increased pressure of being a listed entity, Snap Inc. will need to keep coming up with ways to maximize their revenue, so you can expect to see their ad options further expanded and refined over time.
But one of the key criticisms of Snapchat as an ad platform thus far has been the lack of advanced targeting or data to help advertisers make the most of their campaigns. The platform has been working to advance this also, adding in new options like Snap Audience Match and advanced audience segments.
In fact, Snapchat may have more ad targeting options available than you think - this new infographic from Advertisemint provides an overview of Snapchat's various targeting options, which may help provide some more perspective on how you can use Snapchat ads to reach your target market.