In a past blog-post, I had written about Snapchat’s unexplored potential; I described how digital and content marketers, could really use the social media platform for their advertising campaigns and generate huge profits if they are seeking to target Millennials as their primary market. However, it wasn’t fully viable because there were many content restrictions on Snapchat adverts and limited support for creatives to use their platform.
Well this year, after Snapchat’s financial trouble with their IPOs and struggling to compete with Instagram stories, they finally released (on June 12th) a self-service platform for all marketers, allowing many SMB’s and big corporations to buy ads and track their campaigns.
This encourages more organic content creation, which can now be consumed by Snapchatters. It also gives businesses more control over how long their campaigns go for, what specific call-to-action strategies they want to use and it presents brands with real-time statistics of CTRs (click through rates) and views. It also boasts 50% lower CPI (cost-per-install) than other platforms which is why it has attracted many brands so far.
This is a 9-minute video, of how to use SnapAds, if anyone is keen to try it!
Rivalry: Insta vs. Snap
As Snapchat continues to grow, the question is whether they can compete with Facebook and it’s minion – Instagram, as they both reach the same demographic of consumers.
That is a thought that has been on Snapchats mind for a while and that is why they are introducing Snapchat Certified Partners. This is an initiative that takes advertising agencies, social media consultants and content creators to undergo a two-day training program that results in all its participants become fluent in Snapchat Ad Language. It is a similar program to Facebook’s agency program Blueprint.
But what about the results?
Snapchat had propelled Peak Labs’ “Brain Training” app to accumulate 1.7 million downloads in two months! When you think of promoting your service or product on a social media platform, it seems like Snapchat is offering to become your number one solution.
Research from Snapchat themselves has suggested how many of their consumers are often persuaded by their peers. But commissioned research from Sparkler found that 60% of Snaps occur between close friends, who are 3 times more influential than celebrities when it comes to making purchase decisions. While 95% of us are more likely to trust a brand recommendation from our friends.
So my question to you, first as a consumer: Have you ever bought a product, downloaded an app, or shared a recommendation to a friend through Snapchat?
And secondly, as a digital marketer: What is your perspective on Snapchat’s new revamped advertising tech? Is it worthy of your time and money?