Wednesday, March 08, 2017

Things to consider before doing Snapchat Marketing

Is Snapchat Marketing The Right Social Media Platform For Your Brand?

My takeaways from this article:

1. Traditional Snapchat ads operate on a CPM (cost-per-impression) model, with a minimum spend of $40,000 a month. This is not very optimal for small businesses or start-ups. (and personally I SKIP almost every ad in the first 2 seconds I come across when viewing stories, because it's very interruptive and it's easy to skip.)Traditional ads on both Instagram and Facebook can operate on a cost-per-click model, with a minimum budget that is usually between $1-5 per day, depending on the ad type. In general, the advertising cost on each platform: Snapchat > Instagram > Facebook.

2. Sponsored lenses, which are active for 24 hours, allow users to actually interact with the “ad” while they take a snap, and appear alongside with the platform’s organic lenses. It is a costly but effective one and has been estimated to cost brands from $300,000 to $750,000 for one day.

3. Sponsored geofilters operate on a cost-per-swipe model. Setting a local geofilter (best for small companies, like a local coffee shop or small boutique) can cost as low as $5. These rates are calculated based on the size of the area you want the geofilter to appear in, as well as demand at that given time.

4. Most of the brands we see advertise on Snapchat fall in the B2C space--whether it’s a publishing brand with lots of fresh content (Daily Mail, Refinery 29, etc.), or a company within the CPG (consumer product goods) space.

5. 71% of Snapchat users are under 34-years old, and 30% of US millennials use Snapchat on a regular basis. For brands trying to reach a young demographic, Snapchat is definitely an option to consider.

6. Snapchat is good for brand recognition. In a study produced by Milton Brown, data found that mobile purchase intent increased by two times when a company shows an ad on Snapchat, and 92% of campaigns have seen a positive sale after advertising on the channel.

7. Influencer marketing on Snapchat is booming.

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