Snapchat: the mobile messaging app that is the current rage amongst millennials. Edit your pictures and videos by drawing, filtering, or captioning the image before you send it to your friends. It’s fun, easy, and one of the fastest-growing social networks. So, should you add it to your marketing plan? Maybe. Do you need it to be successful? No.
Since launching in 2011, Snapchat has gained a large following—173 million daily users in fact. But just because it’s popular with millennials doesn’t mean that it is for everyone or every brand. Before you add Snapchat to your marketing strategy, you need to ask yourself a few questions. Two of the most important ones to answer are, “Is my target audience on that platform already?” and “Is it something they engage with consistently?”
If you answered “yes” to both of those questions, the next thing you need to consider is if it will fit in your budget. Yes, you can use snapchat free of charge, but if you want to advertise to a more diverse audience in order to convert leads, you will need to pay for advertising.
The total cost will vary for each campaign if you choose this route, but most Snapchat advertisements operate at a CPM model. That CPM model has a minimum spend of $40,000 a month, yikes! Or if you want to do a sponsored lens…drum roll please…it will cost you $450,000 per day Sunday–Thursday and $500,000 for Fridays and Saturdays! There is also the option of sponsored geofilters—creative screen overlays—which operate at a cost-per-swipe model.
Advertising on Snapchat doesn’t need to cost $40,000…or $500,000, though. If you are a smaller business, there are options for you, too. Snapchat allows users to create local geofilters, which can cost as low as $5. The cost can go up, depending on the size of the area that you are putting the geofilter in. This option is best if most of your customers are local and you’re not trying to reach a larger audience outside of your area.
Just because some brands are advertising on Snapchat doesn’t mean that you have to, too. Most brands that advertise on Snapchat are B2C companies that are able to produce a lot of new content daily and reach a younger demographic.
That brings us to the next point: Who is on Snapchat? Snapchat is similar to Facebook and Instagram as the app’s demographics are slowly starting to skew older—which could be good for your brand! In fact, Mediakix stated that more than 85% of daily U.S. users are between the ages of 13 and 34 years old.
Now that you know some of the costs and ages of people, let’s focus on how Snapchat can help your brand:
- Behind the scenes footage: Who doesn’t like to be in the know? With Snapchat, you can give your followers a sneak-peak into an upcoming event you’re having, office life, or even things that no one else will get to see if they aren’t following your brand. This will help give your brand a more personable feel.
- Live events: Unfortunately, not everyone can make it to everything. By posting photos of videos during your event, your followers will get an inside at what’s going on without actually being there.
- Influencer outreach: Partner with a social media influencer and have them do a Snapchat takeover for the day. This is a great way for someone else to positively express their opinion on your brand. You could even have them promote your brand on their own Snapchat account. That way, you will be able to reach a larger demographic of people who don’t already follow you.
- Promotions and contests: People love free stuff. Reward your followers with a promotional code or coupon that is exclusive to only those who follow you on Snapchat. This will encourage your followers to engage with your brand.
Just like with any social platform, you need to weigh the pros and cons of adding Snapchat to your marketing plan. So, what’s next? Do you picture Snapchat in your plan?
To view more Snapchat advertising options, head to Wallaroom Media.