diff --git a/src/nativeAssetManager.js b/src/nativeAssetManager.js
index 7be8667f..0de13aac 100644
--- a/src/nativeAssetManager.js
+++ b/src/nativeAssetManager.js
@@ -27,9 +27,15 @@ const NATIVE_KEYS = {
   salePrice: 'hb_native_saleprice',
 };
 
+const NATIVE_CLASS_IDS = {
+  icon: 'pb-icon',
+  image: 'pb-image'
+};
+
 export function newNativeAssetManager(win) {
   let callback;
   let errorCountEscapeHatch = 0;
+  let tokenType = 'default';
 
   /*
    * Entry point to search for placeholderes and set up postmessage roundtrip
@@ -51,10 +57,30 @@ export function newNativeAssetManager(win) {
   function scanForPlaceholders(adId) {
     let placeholders = [];
 
-    Object.keys(NATIVE_KEYS).forEach(key => {
+    Object.keys(NATIVE_KEYS).forEach(function(key) {
       const placeholderKey = NATIVE_KEYS[key];
-      const placeholder = `${placeholderKey}:${adId}`;
-      const placeholderIndex = win.document.body.innerHTML.indexOf(placeholder);
+      const sendIdPlaceholder = `${placeholderKey}:${adId}`;
+      const hardKeyPlaceholder = `%%${placeholderKey}%%`;
+
+      let placeholderIndex = -1;
+      let tokensToCheck = [sendIdPlaceholder];
+  
+      if (placeholderKey === NATIVE_KEYS.image) {
+        tokensToCheck.push('pb-image');
+      } else if (placeholderKey === NATIVE_KEYS.icon) {
+        tokensToCheck.push('pb-icon');
+      } else {
+        tokensToCheck.push(hardKeyPlaceholder);
+      }
+      
+      tokensToCheck.forEach(function(token) {
+        if (win.document.body.innerHTML.indexOf(token) !== -1) {
+          placeholderIndex = win.document.body.innerHTML.indexOf(token);
+          if (tokenType === 'default') {
+            tokenType = (token === sendIdPlaceholder) ? 'sendId' : 'hardKey';
+          }
+        }
+      });
 
       if (~placeholderIndex) {
         placeholders.push(placeholderKey);
@@ -85,7 +111,7 @@ export function newNativeAssetManager(win) {
    * Postmessage listener for when Prebid responds with requested native assets.
    */
   function replaceAssets(event) {
-    var data = {};
+    let data = {};
 
     try {
       data = JSON.parse(event.data);
@@ -105,6 +131,7 @@ export function newNativeAssetManager(win) {
       const newHtml = replace(body, data);
 
       win.document.body.innerHTML = newHtml;
+      if (tokenType === 'hardKey') insertImages(win.document.body, data);
       callback && callback();
       win.removeEventListener('message', replaceAssets);
     }
@@ -116,14 +143,27 @@ export function newNativeAssetManager(win) {
    */
   function replace(document, { assets, adId }) {
     let html = document;
-
-    (assets || []).forEach(asset => {
-      html = html.replace(`${NATIVE_KEYS[asset.key]}:${adId}`, asset.value);
+    (assets || []).forEach(function(asset) {
+      let tokenSyntax = (tokenType === 'sendId') ? `${NATIVE_KEYS[asset.key]}:${adId}` : `%%${NATIVE_KEYS[asset.key]}%%`;
+      html = html.replace(tokenSyntax, asset.value);
     });
 
     return html;
   }
 
+  /**
+   * Adds the src attribute to specific img tags identified by the class name.
+   * The value for the added src is dervied from either the native.icon or native.image bid assets.
+   */
+  function insertImages(document, { assets }) {
+    (assets || []).forEach(function(asset) {
+      if (asset.key === 'icon' || asset.key === 'image') {
+        let imageElement = document.getElementsByClassName(NATIVE_CLASS_IDS[asset.key]);
+        imageElement[0].setAttribute('src', asset.value);
+      }
+    });
+  }
+
   return {
     loadAssets
   };
diff --git a/test/spec/nativeAssetManager_spec.js b/test/spec/nativeAssetManager_spec.js
index 3207ae92..67d7ab80 100644
--- a/test/spec/nativeAssetManager_spec.js
+++ b/test/spec/nativeAssetManager_spec.js
@@ -25,14 +25,14 @@ function createResponder(assets) {
   };
 }
 
-describe('nativeTrackerManager', () => {
+describe('nativeAssetManager', () => {
   let win;
 
   beforeEach(() => {
     win = merge(mocks.createFakeWindow(), mockDocument.getWindowObject());
   });
 
-  it('replaces native placeholders with their asset values', () => {
+  it('replaces native placeholders with their asset values while using sendId notation', () => {
     win.document.body.innerHTML = `
       <h1>hb_native_title</h1>
       <p>hb_native_body:${AD_ID}</p>
@@ -54,6 +54,39 @@ describe('nativeTrackerManager', () => {
     expect(win.document.body.innerHTML).to.include('<h1>hb_native_title</h1>');
   });
 
+  it('replaces native placeholders with their asset values while using hardKey notation', () => {
+    win.document.body.innerHTML = `
+      <h1>hb_native_title</h1>
+      <p>%%hb_native_body%%</p>
+      <a href="%%hb_native_linkurl%%">Click Here</a>
+      <img class="pb-icon" height="10" width="10" />
+    `;
+    win.document.body.getElementsByClassName = sinon.stub().returns([{
+      setAttribute: function(property, val) {
+        let attribute = `class="pb-icon" ${property}="${val}"`
+        win.document.body.innerHTML = win.document.body.innerHTML.replace('class="pb-icon"', attribute);
+      }
+    }]);
+    win.addEventListener = createResponder([
+      { key: 'body', value: 'new value' },
+      { key: 'clickUrl', value: 'http://www.example.com' },
+      { key: 'icon', value: 'http://my.fake.images/somewhere/lost/1x1.gif' }
+    ]);
+
+    const nativeAssetManager = newNativeAssetManager(win);
+    nativeAssetManager.loadAssets(AD_ID);
+
+    expect(win.document.body.innerHTML).to.include('<p>new value</p>');
+    expect(win.document.body.innerHTML).to.include(`
+      <a href="http://www.example.com">Click Here</a>
+    `);
+    expect(win.document.body.innerHTML).to.include(`
+      <img class="pb-icon" src="http://my.fake.images/somewhere/lost/1x1.gif" height="10" width="10" />
+    `)
+    // title was not a requested asset so this should stay as is
+    expect(win.document.body.innerHTML).to.include('<h1>hb_native_title</h1>');
+  });
+
   it('attaches and removes message listeners', () => {
     win.document.body.innerHTML = `<h1>hb_native_title:${AD_ID}</h1>`;
     win.addEventListener = createResponder();