What Role Does Snapchat Play In Your Marketing Plan?
The revenue of Snapchat’s parent company, Snap Inc., increased in the third quarter of 2020 due to increased spending by brand advertisers. Early Covid-19 media reports and analyst estimates acknowledged rising usage figures but worried how the channel would fare as online advertising cratered, but the actual results exceeded those expectations. Including Snapchat in your social media marketing strategy is still a good idea as things stand. The rising numbers show that businesses should not write it off, especially in light of the high level of interest shown by their users.
With the closure of so many public institutions and businesses this year, many people have been cooped up inside, where they have been using Snapchat at much higher rates than usual. There are now 249 million DAUs, which is more than the average prediction of 244.6 million in a Bloomberg survey. Users are increasingly turning to Snapchat as a means of maintaining social connections, learning about the latest developments in the pandemic (Snapchat verifies and curates Covid-19 information in the Discover section), and adjusting to the new normal.
This captive audience allows Snapchat to compete with its main rivals. Install volume for app ads increased by 36% from late February to late March, according to data collected internally by Snap Inc. Today, if you want to expand your brand’s reach or your online business, Snapchat marketing is the way to go, especially if your target audience is young people (15 to 35 years old). Achieving success on the platform requires coordinating your objectives with the free and paid tools at your disposal.
In this article, we’ll explain why Snapchat is so effective for reaching a young, niche demographic of consumers and driving revenue growth. Within our scope, we investigate:
- SnapChat vs. Industry Giants
Here are the three main advantages of using Snapchat in the workplace:
- The Snap Guide: Brand Account Creation
- There are four main approaches to developing a Snapchat advertising plan for an online business:
- How to Begin Snapchat Advertising
Competing with Industry Giants: Snapchat
The revolutionary features of Snapchat shook up the fields of user-generated content (UGC) and social media advertising and branding. The app popularised the concept of sending temporary media like photos and videos as well as messages. Many companies, including Amazon, Sour Patch Kids, and Taco Bell, have taken advantage of the platform’s narrative structure to spread brand awareness, build customer loyalty, and offer discounts.
Younger members of Generation Y and Z made up the bulk of Snapchat’s early adopters. Snapchat Stories, a collection of pictures and videos that vanished after 24 hours, was one of the app’s most interesting features. Facebook developed a product that seemed suspiciously like Snapchat Stories as the company was growing in popularity. Facebook Stories and Instagram Stories followed shortly after, with Instagram Stories ultimately becoming more popular. With Instagram Stories becoming twice as popular as the “original,” Snapchat’s lead eventually vanished.
The entire sequence of events occurred between 2011 and 2018. What made advertising on Snapchat appealing has since been successfully implemented by Facebook and Instagram. Snapchat may be a niche ad platform, but it’s still very effective at reaching its target demographic and providing a healthy ROI for businesses. Marketing on Snapchat is still very effective for those who target a younger audience.
Three Major Advantages of Snapchat in the Workplace
From the findings of the comparisons, we can infer that marketing on Snapchat is successful for consumer-facing businesses. Here are a few ways Snapchat advertising can have a major effect on your business if you run a business-to-consumer (B2C) brand.
1. Reach Out to the Millennial and Gen Z Crowd
These groups, with a combined direct spending power of nearly $3 trillion, are having a greater impact on consumer spending than their predecessors, the Baby Boomer generation. They stay on the app for over 30 minutes, giving you plenty of time to reach out to potential buyers. Sixty percent of Snapchat users in the millennial and Gen Z demographic are also likely to make spontaneous purchases of goods and services they discover through Snapchat ads.
2. Let Your Brand Be Seen
To win over your intended demographic, you must first earn their familiarity. You can quickly and easily introduce your brand through Snapchat’s video and photo storytelling format. The best part? Be as laid-back, genuine, and light-hearted as you feel fits with your brand. The goal is to get people interested in your brand and eventually convince them to support you.
3. Inspire people to visit your online property or use your mobile app
Use Snapchat’s captivating video or image content to hook viewers, then encourage them to swipe up and visit your website or download your app. One notable effect of lockdowns across the United States has been a shift in shopping habits, with Snapchat users increasingly opting to make purchases online via their phones rather than visit physical stores. In a post published in April, Snapchat identified athleisure, pet products, and home goods as its top three trending categories.
When people don’t leave their houses and become more isolated, their wants and needs change. This event is mirrored in other places where users’ interest and activities are on the rise, giving a hint as to which companies would do best to advertise on Snapchat. The same blog post by Snapchat also included the following lists:
Health and fitness, music and video streaming, gambling games, mobile games, and online meditation services.