Snapchat has been a rising star in the social space since its launch in 2011 but it has come a long way from its original form. When Snapchat first launched, it was adored for its ability to allow users to share temporary pictures via private messages or “snaps” that could only be viewed by the recipient for a pre-established amount of time, before becoming lost forever.
Now just 5 years later, Snapchat has grown in to a versatile multimedia social messaging platform, which consists of a photo or a short video that can be edited with text, filters, stickers or geography based overlays known as GeoTags. Snaps can then either be shared as a semi-public “story”, which is compiled and automatically shared with the user’s contact list for 24 hours, or sent privately to recipients of their choice.
With the increase in usability and creative content development opportunities SnapChat has increased its user base to over 150 million daily active users, which as of June 2016 has official surpassed Twitter!
More than half of Snapchats users are over Age 25 which is a huge opportunity for marketers to reach these younger demographics, but they are going to have to be a little more creative in this space. So, If you’re a business looking to delve into the Snapchat space you have two main options much like other social platforms, organic and paid, but you must be prepared to really put time, resources and creativity into this space
In terms of “paid” advertising on Snapchat businesses have 5 main options, although the majority are not going to be attainable for most SMBs (Small & Medium Size Businesses)….
The Discover section of Snapchat is only open to a select few publishers and media brands that create regular editorial content for users to explore. Brands can purchase ad space in this section for a hefty price of $50K-$100K a day.
Live stories are user-generated content from events and locations around the world which gives viewers a unique in the moment perspective. This section sees high levels of engagement with 10M-20M Snapchatter views every day. In turn, it comes with a large prices tag of about $100K-$500K per campaign.
These are skippable 10-second video ads that appear between some Snapchat Stories. Brands can create expandable Snap Ads as well by asking viewer to swipe up to view longer videos, install an app, or direct to their website.
This is one of the most popular features within the app that allows users to utilize filters to alter the user’s face or image within their snaps. Brand sponsored lenses are a great way to engage millions of snapchat users daily but one lens could run between $450K – $750K per day.
Geographically-determined text and/or graphics displayed over a Snapchat video or photo which offers users a way of enhancing their content and increase engagement. This is the one ad space that Snapchat will allow brands to design and purchase their own custom On-Demand Geofilters to help promote events or other promotions. Prices for this space is much for affordable and is based on the square footage and time frame you would like for your filter.
Have more questions about Snapchat or how you can use it to promote your own local event? Contact FMDi today and we will walk you through all the steps you need to know to create a Successful Snapchat Campaign, even if you are a Small or Medium size business!