By Oliver Clapin – Native and Social Coordinator
The concept of Snapchat (now with a new company name, Snap Inc.) was very simple – users share photos that disappear after one to 10 seconds. With an increasing number of people experiencing firsthand that what you post on social media can come back to haunt you, this self-deleting app quickly rose to become one of the biggest players in the social media landscape. Fast-forward to 2016 and Snapchat is eyeing off an IPO that will value it at as much as US$25 billion (Reuters). So should you be leveraging this platform in your brand’s digital strategy?
The audience on Snapchat
There’s no doubt that Snapchat has become one of the most popular social media platforms today. There are more than 150 million using it each day to share and engage with content, and the platform boasts more than 10 billion video views per day (Bloomberg) – overtaking Facebook’s meagre 8 billion daily video views.
It’s true that Snapchat is the social media platform of choice for the young, with 60 per cent of users under 25 years old. This young audience is highly engaged with the platform, as 64 per cent of 18 to 24 year olds with smartphones are active daily users. However, this is changing, with the number of users over 25 growing twice as fast as users under 25 (Wall Street Journal).
As the change in company name suggests, Snapchat is growing up, and in doing so the product has been growing. In June, Snapchat released its ad-tech program to Snap Inc. partners to serve three video ads per day in between users’ stories – a move that many see as part of Snapchat’s advertising push to reach $350 million in revenue this year (TechCrunch). It has pledged to limit the number of daily ads served to users in a move to avoid damaging the user experience.
With the new name comes a new mission – and thus Snap proclaimed that it wants to be a camera company. In September, it announced its first hardware product – Spectacles, which are essentially sunglasses with a built-in 115-degree-angle camera to record video that more closely matches our natural field of vision. On top of this, the app is looking to fill ‘stories’ with original video programming – threatening to evolve from a social media company into a media-powerhouse as a mobile-first TV platform.
Snapchat for business
So why Snapchat? Let’s look at some of the opportunities Snapchat presents to brands looking to add another tool to their arsenal.
Attract talent: With a large millennial audience on the platform, Snapchat can be used to attract new talent through behind-the-scenes content showcasing your company’s culture and values to the younger generation.
Leverage events: Your brand can achieve strong brand awareness and engagement using the platform at events. Using a custom Snapchat Geofilter, event-goers can select your filter if they are within the specified proximity. In effect this creates brand ambassadors, as users send out Snapchats to their followers with your branding. You can then increase the success of your target audience using your brand’s filter by cross-channel promotion.
Be authentic: Snapchat provides the opportunity for you to have a one-on-one engagement with your customers as you’re able to send snaps directly to individual followers. It is as real-time as social-media platforms get, which closes the disconnect between brands and their customers.
Connect with influencers: As the Aussie startup HiSmile found, the new breed of influencers who have found fame through social media platforms like Snapchat can offer a trusted opinion to your audience. In turn, this can grow your business whether it’s through promoting your products, raising brand awareness or sharing access to exclusive content.
Would your brands benefit from Snapchat? Contact an expert from our audience team here