PiggyBankNomics
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Snap Chat For Business Use: Why Your Business Needs It

Let Snap Chat help build, and develop, your brand

Let Snap Chat help build, and develop, your brand

Let’s face it. Everyone knows what Snap Chat is. It’s fun. It’s easy. It’s a way to converse that is more interactive than a traditional text message. Everyone does it. Heck, my 81 year old grandma sends me Snaps (I’m not joking). We live in a society that loves to show themselves and what they been up too, especially the millennials (ahem, the ones with currently the most purchasing power).  “On any given day, Snap Chat reaches 41% of all 18 to 34 year olds” (Nielson). Furthermore, according to Snap Chat, over 100 million people view over 10 billion videos per day. This number is up 350% since 2015. Those numbers are astounding and should be initiating a light bulb in anyone trying to brand/advertise a business.

In the past, Snap Chat helps users engage with other users. However, the world of social media has evolved. Now businesses are using Snap Chat as a modern way to interact with clients in a way that makes the clients enthusiastic about the brand.  Recently, businesses have started to successfully used Snap Chat to break exciting news, do product launches, and make their clients feel connected to the brand. For example, businesses may use Snap Chat to let customers see the “behind the scenes” of the company. This capability is novel and brands such as Michael Kors are using it to give their customers a more innovative purchasing experience.  Furthermore, Snap Chat helps spread brand awareness around, making it more recognizable to customers, potential customers, and potential business partners. AND ITS FREE, at least for the most basic option (see point 1 below).

Like every social media platform, Snap Chat has multiple advertising options, which differ greatly in price and content:

  1.      A business can attract followers, and post Snaps, in the traditional way, through Stories. The cost? Free.
  2.      Snap Chat gives businesses the option to create a “Geofilter.” This filter makes it so users can add your little picture or blurb to their pictures/videos. The Geofilters are typically location designated, and go with a theme. Snap Chat states that nationally defined Geofilters typically reach 40-60% of the daily Snap Chat users. Businesses can create personalized Geofilters and then set up a time, and location, that the Geofilter will run. Once created, the Geofilter must be approved by Snap Chat, which is typically done in 24 hours. This option is available for both individuals and small businesses. The pricing depends on the location, the size of the location, and the time the ad will run. Filters start at $5 USD, but that does not cover the cost to design the filter.
  3.        Snap Ads are short video ads-about 10 seconds. They mirror the typical Snap, and users have the option to “swipe up,” which reveals additional content, such as articles and links. According to Snap Chat’s website, users swipe up on the Snap Ads 5 times more than on a typical click through ad on other advertising platforms. This option runs around $50,000/day.
  4.        A business can also choose to use “Sponsor Lenses.” With this type of ad, the user can choose to interact with the advertisement in their videos (Snap Chat Internal Data). This is typically used for large business, such as McDonald’s, given the cost can be over $450,000/day, according to TheVerge.com

Snap Chat is real time marketing. In a time that is driven by social media, it makes you, and your brand, relevant. Brands need to continue to innovate their marketing strategies given there are so many different options besides the old school print, radio and television. How do you innovate your advertising and marketing for yourself and your brand?

On any given day, Snap Chat reaches 41% of all 18-34 year olds

Nielsen Media Impact, Reach Duplication, Nielsen Total Media Fusion/GfK MRI Survey of The American Consumer 9/1/2015 – 9/30/2015 (Television, Internet, and Mobile)

 

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