Snapchat’s Potential: Revisited

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!
source: https://www.youtube.com/watch?v=D4aTaKjsW30

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.

snapchat vs instagram
source: http://blog.creamglobal.com/.a/6a00e5506f08e8883401b7c899abb0970b-pi

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?

 

 

6 thoughts on “Snapchat’s Potential: Revisited

  1. Yeah, I honestly think it will become more prevalent. It is already happening with Instagram’s “Swipe Up feature” that lets brand influencers and brands themselves re-direct their consumers straight from their personal scrolling onto their retail websites; kind of blurring the lines between advertisements and personal connections. Maybe that’s what they were aiming for.

    Snapchat definitely has a wealthy gen Z and millennial audience that isn’t very reachable through Instagram so I would agree and say there is more to see in the future with this new Snapchat ads.

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  2. I’ve only ever thought of Snapchat as a personal platform and I’m really particular with what I want to see on it. Compared to other platforms, this is the one that I hate seeing ads on the most. However, as a digital marketer I definitely understand the untapped potential the platform has in regards to marketing and I think this new advertising tech they have introduced is really smart. I wasn’t aware that Facebook had something like that too but it makes sense and it definitely seems valuable for marketers.
    Personally, I prefer advertising on Snapchat through following branded accounts or influencers rather than actual ads so I haven’t ever bought t a product, downloaded an app, or shared a recommendation to a friend. But who knows, as it becomes more common I might in the future.

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  3. Interesting post! I have seen many people sharing a recommendation to friends through Snapchat, but I have personally never bought a product or downloaded an app through Snapchat. For digital marketers, I believe Snapchat’s new revamped advertising technology is a great movement and many marketers will want to get on in. It is an interesting advertising landscape that is being formed in the advertising world, with companies such as Facebook, Instagram and Snapchat all introducing new way to encourage digital marketers to use the relevant social media site as their main advertising platform.

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    1. And what a time to be alive for digital marketers, as many of these platforms charge low rates and provide training programs, that can give you the skills to be all-knowing of the advertisement language within all the different social media platforms.

      Interesting that you have seen many sharing recommendations going through Snapchat. Perhaps in the next few months with new Snap updates, you will find yourself, sitting on your couch, watching Snap stories and eventually find yourself buying a product or downloading an app through their platform. Then you will think of this post and say to yourself: “wow. she predicted the future.”

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  4. Personally I’ve never bought a product or downloaded and app via snapchat, but I can see some people doing it, I rarely download apps anyway. But from a marketers perspective the cost is certainly appealing and the results don’t like just by looking at the success of the brain training app, also interesting to know that friends are 3 times more influential than celebs, so no doubt getting into the tighter-knit relationships is key to success. Nice read!

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    1. Thanks, Will!
      I don’t even have Snapchat, which is crazier in itself given I am writing about it! So I take it you are not a daily Snapchatter then? But have you ever experienced your friend snapping something cool that has made you wonder once or twice “that looks pretty neat, maybe I should get one?”.

      The cost is definitely appealing, and I think that although SnapAds are particularly new because of low costs now is the best time to invest in creating campaigns on Snapchat. There isn’t much loss that can be derived besides trying it once, and your campaign not doing that well. Then you just know that perhaps, Snapchat isn’t the right platform for your content.

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