Thursday, March 23, 2017

How banks are getting involved in Snapchat

But I thought Snapchat is for millennials? And millennials are fun, and banking is not fun. So I don't get it....

Au contraire, mon ami! With a projected 70mm user base in just the US alone, banks are increasingly looking to Snapchat to reach millennials. Snapchat & Banking Article

But to reach them with what type of content is still the question that remains. Banks are not sure quite yet what they want to achieve so they are still trying to figure out what works best and the approach is still cautious and experimental. All they know is that if they don't jump on the Snap bandwagon they're going to get left behind.

So far, some of the different uses banks are using Snapchat are for "a day in the life" campaigns by recruiters, addressing questions from customers, financial tips & advice, launching different filters to align with a cause such as LGBTQ and women's day, and brand visibility at sponsored events.

One thing to note is that it's a bit cumbersome to add someone on Snapchat, so this might deter some folks from adding a bank on Snapchat. However, this is a feature that may come and go, especially since Snap is public now, and will want to gain as much advertising traffic as the Snap user base can handle.

No comments: