Saturday, January 16, 2016
10 Reasons Why Brands Should Be on Snapchat
There is no denying Snapchat’s growth. Since November, the messaging app has gained another billion views bringing it to seven billion views, Business Insider reports. The number of views has been growing exponentially for the brand, which has tripled its views nearly six months earlier. It is still just shy of Facebook’s 8 billion video views a day, but with Snapchat’s growth points that they will be passing Facebook very soon. As 2016 gets underway, it is clear that Snapchat is one of the social apps that marketers should have their brands on.
So what should you know about Snapchat before diving in?
1. Everything is short-lived; Snaps and stories only last one day on the app. Snaps are individual pictures or 10 second videos; while Stories are the compilation of the day’s stories. The ephemeral nature of Snapchat means users are continually checking in on their favorite channels and users. Users create about 800 million snaps and videos per day.
2. More than 60% of smartphone users, between 13-34 years old, use Snapchat. 37% of Snapchatters are between the ages of 18-24 years old.
3. There are at least 200 million people using Snapchat; about 100 million users are snapping daily. They are highly engaged and they are staying with the product. Snapchat thrives on engaging their users through user created content that never stays the same.
4. Snapchat Discover allows brands to get in on creating their own content. Like Stories, Discover allows brands access to 24 hour storytelling for their company. Snapchat’s layout of vertical videos and full screen layout are conducive to easy viewership. Brands like Food Network, Refinery 29, IGN and Wall Street Journal are just a few brands that are taking advantage of Snapchat Discovery.
5. Snapchat Live is a unique feature that curates user created content. Users who are at the same event location have an opportunity for their snaps to become part of the Snapchat Live story. In Brixton, London fans spontaneously gathered to celebrate David Bowie, and the snaps and videos were curated as a tribute which runs through the end of January 12th.
6. Snapchat counts video views that are less than a second; however, the user has to proactively play the video for the tally to count. Other social media giant, Facebook considers three seconds to be a view, but their videos will automatically begin to play as the user scrolls past. According to Business Insider, 90% of all brand advertisers are repeat advertisers. While it is still difficult to really monetize the ROI with Snapchat, the audience keeps bringing advertisers back. Why? It is the “in” place to be. As we said before, Snapchat tripled its video views per day in six months, and added another million views per day over the holiday period.
7. Lenses and filters are two ways that marketers can reach users on user created content. Lens is a type of feature that allows users to change their appearance. Brands can sponsor the 24-hour lens, like Beats did on Black Friday. A lens will cost a brand about $500,000-750,000. Filters (geofilters) are tied to a location or event and allow users to put a sticker, frame or drawing that overlays their snap. McDonald’s created one of the first sponsored filters which allowed users to add a burger and fries to their snap whenever they were near a McDonald’s location.
8. Snapchat is growing quickly outside the US. In the UK, Snapchat users account for 25% of smartphone users and in Norway 50% of smartphone users. The app itself is also expanding offices to the UK and taking along some powerful social media presences with them. The former director of agency partnership at Facebook in the UK, Claire Valoti, and former members of Twitter, AOL and Buzzfeed have, joined the Snapchat UK offices.
9. Snapchat is building an application programming interface (API), according to Digiday. This will allow advertisers more precision and better execution with their marketing campaigns. While the API maybe a few months off still, Snapchat has made advertising growth their focus for 2016. “Snapchat’s ambition going into 2016 is to have many more opportunities for e-commerce on the platform and other stuff that is more about building audiences,” said an ad agency executive with direct knowledge of the plans.
10. The numbers do not lie. Snapchat has set themselves up to be one of the strongest contenders in 2016. Their quick growth and their highly engaged users make Snapchat a great place for marketers to stretch their creative muscles, and tap into that hard to reach 13 to 34 year old market. With their promises of stronger e-commerce opportunities for the upcoming year, Snapchat is where marketers want to be.