Snapchat’s Ad Platform: Should Your Business Buy In?
Earlier this month, Snapchat rolled out Snap Ads, which are videos from businesses that will appear between the Stories and Discover functions on the app. These new features will make it easier for advertisers to get in front of users and make conversions (sales, downloads, sign-ups) within the app.
If this sounds like a foreign language, sorry! It’s likely that some of our readership doesn’t target the Snapchat’s demographic (see below!).
Snap Ads allow brands to broadcast their message in familiar Snapchat form. But currently, the price is too impractical for anyone other than national advertisers to utilize SnapAds. Here is a glimpse at what Snap Ads entails:
Snapchat Discover: $50,000 per day (which is down from $750,000 per day!) puts your brand in line with a user’s Stories.
Sponsored Lenses: Advertisers can use this one-of-a-kind feature to make an impact. Sponsored Lenses take Snapchat’s facial recognition technology and put a person’s face into the ad itself. For the cost of over $700,000 for special events, the price may seem overwhelming. But Taco Bell’s Super Bowl lens (see picture) had 224 million people INTERACT with it during the big game. Not skip the ad…INTERACT with it! That attitude shift toward advertising is utterly amazing.
Nationwide Sponsored Geofilters: On a local level, businesses can create their own Geofilters (popular in regular Snapchat lingo) to appeal to users. This feature is now available on a national level for large-scale companies to garner huge view counts, which is excellent for brand awareness.
Without a doubt the exposure is high, but the current prices are in outer space for small businesses, and it’s far too untargeted in its present state. We’ll keep you posted when this platform become practical.
So the Answer to the title question: Not Yet.
– Snapchat reaches 41% of all 18 to 34 year-olds in the United States.
– 60% of those users are under the age of 25.
– 50 million Snapchat users haven’t yet graduated high school.
– There are 200 million active users worldwide on Snapchat.
– It’s estimated that Snapchat will grow by 27% this year.
– Growth for users over the age of 25 is happening at double the rate of users under the age of 25.
– 30% of teens rank Snapchat as their primary social network.
– 60% of college Snapchat users would purchase a brand if it sent a coupon through the app.
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