Learn how Snapchat is quickly becoming a major platform for advertising as told by the PRSSA Blog Team.
By: Andrew Cornell
Whether you check Snapchat to see what all your friends are doing, to catch up on today’s news, or to add a funny filter to your face, we all check it constantly throughout the day. Over 150 million of us, actually. Of that 150 million plus, over 10 billion videos are created a day via Snapchat. This app is more than just a social network and a place to check out DJ Khaled’s “Keys for Success.” It’s an advertiser’s paradise.
So why is Snapchat such a prime investment for advertisers? Reeling in an expected revenue of $300 million at this year’s end, the 2011 start-up must be doing something right. The main aspect of Snapchat’s advertising strategy is through its Discover section, which features companies such as CNN, MTV, ESPN, Cosmopolitan, and the list goes on and on. Everyday, a company can put out as much content as it wants to provide to consumers, and all the consumer has to do is swipe across their smartphone screen. In a time where traditional TV is falling victim to commercial-less streaming, this allows advertisers a personal commercial that consumers can view all day at any time.
Another crucial feature of Snapchat connecting with users and making a lot of money for
investors are sponsored lenses. In today’s world of advertising, it’s all about brands. Consumers want to love a brand, be loyal to a brand, and even identify with a brand. Well Snapchat allows them to do just that. Since launching the lens feature on Halloween 2015, there have been over 100 paid lenses run by Snapchat. If you were wondering how much it costs to put dog ears and a tongue on your face or to see yourself in your favorite NFL teams jersey, on average it costs between $350,000-$650,000 for a brand to advertise to just the U.S. users of Snapchat. This past spring and summer, numerous brands such as Nestle, Taco Bell, Burberry, and Gatorade utilized this feature to reach their target audiences.
Geotags, or the sticker-like features that can be placed on your photos, have also become a major source of revenue and advertising for Snapchat. Companies purchase the location and use it to attach their brand or event to your photos for you to send it to all of your friends.
Whether a company or brand is looking to market directly to the millennial audience, spread awareness for events, or even help you understand the “Keys to Success,” Snapchat has become the new frontier for advertising and the center of consumer-brand interaction.
Take a look back @ Snapchat Summer ’16: