By Charlie Balk, Director of Paid Social
Snapchat has moved at a breakneck pace to catch up to established social media advertising platforms like Facebook and Twitter. In June, Snapchat will be releasing a self-serve platform to place Snap Ads using a credit line or credit card without additional fees or minimums.
Snap Ads are up to 10-second vertical video units with additional components like links, articles or app install functionality. They appear between stories and are skippable.
Why This Matters
For over a year now, Snapchat has widely been considered the next big thing in social. However, up until now, with the exception of On Demand Geofilters, advertising on Snapchat was only available through large buys or expensive API partners. The new native self-serve platform does away with this significant barrier making it possible to test Snapchat with much less risk — enabling brands with smaller budgets to include Snapchat as a secondary platform in their overall social approach, much like the way marketers currently approach Twitter.
- Direct control of all campaign details; optimize creative, targeting or bids at anytime
- Buy on a campaign goal (GBB) and audience basis
- Real-time access and control
- Snap Lifestyle Categories: 60 interest categories like parenting, political news, music festivals, etc.
- Demographics: Basic (age and gender) and advanced (Moms, Spanish speakers, household income, and college graduates) demographic targeting options.
- Location: country, state, region, or designated market area.
- Device Attributes: device, operating system, carrier, and cellular connectivity (like Wi-Fi or 3G).
- Snap Audience Match: Anonymously match data from your existing contacts (e-mail or device ID).
- Lookalike Audiences: Target Snapchatters with similar characteristics to your existing customers.
- Snap Engagement Audiences: Target Snapchatters who have interacted with previous ads.
The Value of Snapchat
Because Snap Ads are skippable and the app is built to move through content so quickly, there are a lot of questions about the value of an impression on Snapchat. A JPMorgan Chase survey found that two-thirds of Snapchat viewers never watch video ads on the platform. eMarketer reported last month that 73% of users said they never respond to Snap Ads.
However, the fact is that Snapchat hosts a massive audience that is hard to reach elsewhere. According to a study by AppAnnie, on average 81% of Snapchat’s daily users in the U.S. don’t use Twitter, 46% don’t use Instagram and 35% don’t use Facebook.
With the minimum spend threshold gone, Snapchat has instantly become much more important to paid social strategies. For brands seeking to reach younger consumers, Likeable highly recommends testing Snap Ads to extend reach, show off innovation, and set the brand apart from the crowd.
Contact the Likeable Media team to learn more!