Ever since Snapchat came into being some six years ago, tech writers and critics have been lamenting its demise. The reasons vary, depending on each new feature the company launches, each development and each new idea coming from the Venice, CA headquarters. The life of the posts is too short; it caters only to Millennials, nobody above 25 understands how to use it, it doesn’t host premium content, etc.
Still, the app, which has reached over 166 million daily users, is proving these critics wrong. Although the SNAP stock fell after the IPO lockup expired and Instagram competition seems to be chipping away at its growth, it looks like Snapchat is here to stay.
Think about it this way: its market value is said to be around $16 billion and expected revenue for 2017 might top $950 million. Not bad for a fad, is it?
Now, we all know that the most interesting feature of Snapchat is the fact that the posts disappear in a matter of seconds (or 24 hours for Stories and Discover). Ephemeral as it sounds, this feature is one of the primary reasons the app can help you promote your business and increase your conversion rate. That’s because it makes users aware of your message at the same pace as it would, a photo from their friends. Plus, there is a multitude of paid and free options you could use to reach out to your audience.
Still not convinced?
Here’s why Snapchat is an excellent tool for businesses
Probably the Most Engaging Social Media Platform Out There
Facebook recently announced that Instagram Stories had reached over 250 million daily active users (DAUs), compared to Snapchat total of 161 million DAUs. While that’s impressive, Snapchat earns extra points when it comes to user engagement.
And, here’s why: Snapchat users spend an average of half an hour a day on the app, and 60% of the content is user generated. On Instagram, on the other hand, users spend just 15 minutes per day exploring the app.
Another major difference is the intent of the two platforms. Instagram rewards Likes and a massive followership, which is great if you want to gain exposure. But, if you’re looking to engage with your audience, then Snapchat might be a wiser choice. Because it was designed as a communication platform, it facilitates engagement between users and brands.
Yes, Instagram, which seems to be Snapchat’s main competitor, also features a variety of advertising tools. But, here’s what makes this app such a great tool for business promotion.
- Personalized Geofilters: These specific photo filters can only be used at designated locations. You can use them to promote a local store, workshop or charity. Prices vary from $5 for promoting a local concert to hundreds of thousands of dollars for major events.
- Sponsored Lenses: Major brands use custom lenses for marketing purposes. They don’t come cheap, though and can cost between $450,000 and $700,000 per day, with lower rates Sundays through Thursdays and higher for big events. But, they are worth it. Taco Bell reached 224 million views with its taco-shaped lens.
- Snap Ads: Snapchat also offers brands the possibility to create mobile ads with interactive features. These ads usually lead to the Snapchat Discover channel, where viewers can find more in-depth information. Prices vary, but again, they are worth it. One campaign for a premium Belgian ale, for instance, brought a 22% purchase intent and 15-point brand awareness increase.
If the options above are too costly (although local geofilters are not, by any standards), there is a variety of free options you can use.
- Regular Snaps with Promoted Content: Take a photo of the product/event you want to advance and send it to specific followers. Don’t forget to make your content compelling, by talking during the video, adding funny comments or using emojis.
- Create a Story: Use stories to help customers get a glimpse behind the scenes, talk to employees or promote contests/coupons, etc. The usual length of a Snapchat story is 1-2 minutes, which is enough for your message to come through.
- Create a Personalized Snap Code: You can use a photo editing app to add a picture to the Snapchat ghost. Follow the instructions on how to build a snap code with a link to your website.
According to available business data, only about 1% of businesses use Snapchat for their campaigns. And, that’s a pity. The app has tools and features that cover a broad range of budgets and audiences and encourages creativity. Be a pioneer in your industry and use Snapchat to promote your business and engage with your audience.