With over 300 million active users, Snapchat is now a platform that cannot be neglected by businesses. Every day, about 100 million people use this app and watch over 10 billion videos. Snapchat’s short-video and sharing characteristics have made them one of the most engaging platforms. How, then, can we utilize this platform to better connect with our audience?
Before we start, let’s take a look at the core demographic of Snapchat users. Over 60% of the users are from 18 to 34 and 23% are from 13 to 18. Roughly 70% of the users are female and about 60% are college students. Clearly, Snapchat is mainly used by younger generations, especially teenagers. So you may need to think about who your target customers are before planning any marketing on Snapchat.
Snapchat offers three types of sponsored advertisements, including Snap Ads(10 second videos), Sponsored Lenses and Sponsored Geofilters. However, the ad budget required for the first two options is rather high. The cost for Snap Ads starts at $10,000/month, which doesn’t include production fee and promotional fee. For Sponsored Lenses, the cost is $450,000 per day Sunday through Thursday, $500,000 for Fridays and Saturdays, and $700,000 plus for holidays or special events.
Now before you get dismayed, Sponsored Geofilters charge brands based on their selected area and duration of providing the filter. The cost for geofilters can be even as little as $5 and can still reach a good amount of people. So, let’s take a closer look at this option.
A geofilter is a piece of graphic that you can place on top of your Snaps. Usually, the filter is related to the geographical location of the Snapchatter. A sponsored Geofilter allows brands to create their own graphic and, ideally, encourage people to share with their friends. Brands can choose the region where people can access the filter and can also create snap codes to unlock the filter for a limited time, just as Universal Pictures did with Girl on the Train.
With their collaboration with FourSquare, Snapchat advertisers now have access to FourSquare’s data points. This allows advertisers to choose the location for their filters more accurately and specifically. For example, a retailer could choose a specific store instead of a shopping mall. In addition, Snapchat provides analytics on Geofilters, which offers direct evaluation of your campaign and investment.
In order to create filters that people would like to share, you can think about the commonality that people have in a small region or on a national scale. One example is to take advantages of events and holidays.
Also, you can run an on-site campaign with a geofilter attached at the same time around the area, which will increase the engagement even more.
Snapchat Influencer Partnership
Though not an official form of Snapchat Ad, this kind of sponsorship also yields great outcomes. Here is a comparison of the CPM cost of Geofilters and Influencer Sponsorship.
Influencers tend to have more people following them on their Snapchat accounts, and going through their stories. So, you can conduct product placement in their photos or videos or even have them produce a series of stories for your brand. In addition, you can also start your own Snapchat account and feature influencers. If you could find the right influencer targeting at the right demographic, it will be a smart and effective investment.
Your own snapchat story can also be used as advertising on Snapchat. First, you need to build your audience on Snapchat. Cross-platform campaigns are a good way. You can provide time-limited discounts for those following your account, create fun stories and promote them on other social media platforms, and you can also have influencers spreading the word for you.
Quality of content is important for Snapchat as well. Interesting content can enlarge your audience and help to maintain your relationships with your consumers. Since it is a short video, the key is to catch viewers’ attention in a limited amount of time. You can achieve this by adding plots in the video or making people feel like they are “in the video”. Techniques can be having people in the video talking straight to the camera, adding customized stickers or using new technology for different visual effects.
Snapchat introduced its new product Spectacles, which connect camera on sunglasses with Snapchat. Users can use it to produce “first-person” narrative videos and we can also use it to create interactive content.
Marketing on Snapchat is not as hard or as expensive as you might imagine. Think about your consumers and carefully plan your content, and you will be on your way to nailing it.