Snapchat: A New Platform With Tons Of Marketing Potential
Snapchat hasn’t been around for very long relative to some other social media platforms, like Facebook, but companies would be foolish not to take a long look at its advertising potential. It has 301 million monthly users, and that number is growing steadily. This is another one of those platforms with a highly active user base. That’s why more than one SEO company is liable to mention it as part of a potential ad campaign if you approach them for suggestions. So, what sort of company is likely to do well advertising on Snapchat?
How Best To Use Snapchat For Your Company’s Benefit
As it relates to Snapchat, what’s important to remember is that the users skew younger. The highest demographic that uses it is young adults age 18-34. It’s critical to reach those younger potential customers if you use a B2C business model primarily. It’s these younger Snapchat users that are trendsetters, with some of them being highly influential. If you can get your company or one of your services or products mentioned in the right setting, it can rocket your brand into the stratosphere. But advertising on Snapchat is expensive as compared to some other social media platforms. You have several ad options, including Snap Ads, Sponsored Lenses, and Snapchat Discover. Let’s look at each in turn.
Different Ways of Advertising on Snapchat
Snap Ads are video ads with which you can interact. They have a much higher swipe-up rate than the average click-through rate from another social media platform. They cost between approximately $1,000 and $3,000 a month to run. Sponsored Lenses are what attract a lot of young people to Snapchat to begin with. They are wacky and engaging, allowing sponsors to create customized lenses that promote brand awareness while giving the user a toy of sorts to occupy their time. A sponsored lens will run you between $450,000 and $700,000 a day. Naturally, companies with smaller ad budgets aren’t going to go in this direction. Snapchat Discover is interesting because it mimics a user finding a brand through organic search, and yet it’s precisely the opposite. This is where the platform puts your brand’s story at the top of a user feed so that it’s impossible for a potential customer to miss it. It will cost you $50,000 a day.
Is it beneficial to use Snapchat for advertising? There can be no doubt about it. Getting your company noticed by those in their teens, twenties, and thirties can provide a much-needed spark for your business and its products. The real question is about your advertising budget. If you have a small startup and you can’t afford some of these options, then this might not be for you. But if your company has just received a cash infusion that you want to dedicate toward youth marketing, Snapchat is probably going to be among your best options.