Social media marketing is an ever-evolving landscape and as the marketing nerds it’s our job to keep an eye on the latest trends. One channel that’s been repeatedly mentioned by our clients lately is Snapchat.
In layman’s terms, Snapchat is the video messaging mobile app that allows users to send images and videos as ‘snaps’ to their friends that disappear after a pre-determined amount of time.
We’ve heard a lot of mixed responses to Snapchat, from confusion to adoration, but the fact of the matter is, it’s a lot more popular in younger generations.
Snapchat has taken the U.S. by storm and it’s increasing in popularity in the UK. It’s the fastest growing social network there is and it’s even growing faster than Facebook.
The Piper Jaffray study “Taking Stock With Teens” recently polled about 6,500 U.S. teens to see what they felt was the most important social network, and Snapchat took 28% of votes whilst Facebook took just 17%.
So why should Snapchat interest you as a small business owner?
Snapchat suggest their users are mainly between the ages of 13 – 34 and the number of users are growing rapidly. There are more than 7bn video views every day on Snapchat and over 100 million daily active users.
It’s the psychology behind Snapchat that makes it so popular and it’s the temporary state of content on Snapchat that makes it so addictive. It’s taken the Facebook status to another level; It’s the real-time view of other people’s lives.
Users will return time and time again to check content before they miss out and it’s gone forever. The ‘snaps’ are only there for short amount of time. Snapchat filters are changing all the time and some are only available for a limited time frame. The content is ridiculously easy to consume and the whole app is built on a sense of urgency, which is perfect to match the fast-paced world we now live in.
As a result, big brands are getting huge exposure with it such as Dominos, Adidas and Cadbury’s.
This has to be the biggest reason you should probably keep an eye on Snapchat. The design of the app itself is constantly evolving. It has huge potential for advertising and the options available to businesses are rapidly increasing.
Some of the current options for businesses include:
– Live stories
– Discover channel ads
– Sponsored lenses
Before you run off to give Snapchat advertising a go, you should probably know that the Financial Times reported last October that Snapchat was selling one-day sponsored lens ads at a unit cost of up to $750,000! Today, those estimates are dropping and some put it as low as $100,000 which is a good sign for businesses with a smaller budget.
At the moment there’re some cheaper options available to businesses such as Geofilters and a general business profile but we won’t lie, it’s still quite limiting for small budgets. However, with things changing so quickly we definitely wouldn’t cross it off the list just yet. Watch this space…