“Looking To Build Brand Awareness? Advertise On Snapchat
The harsh reality for many companies is
that their client bases are aging and they're having a hard time engaging with
new audiences. Most of the time, it is because the most efficient channels to
communicate with younger generations aren't understood or used by business
owners.
One of these overlooked but effective
channels is Snapchat, which provides options for you to communicate your value
proposition to your client segments. Identifying your value proposition and the
specific market you are targeting in a young demographic will make a difference
in conversions and sales created on the platform. If you are looking to help
your brand awareness, there is opportunity on Snapchat.
Snapchat has a high volume of engaged users.
When you think about that fact that 23% of
users on Snapchat are 13 to 17 years old, 37% are from 18 to 24 and 26% are 25
to 34, you are targeting the exact market that will help you renew your
customer base. Especially when you know that 54% of these users log in every
day to collectively amount to 100 million active daily users and 10 billion
videos per day (350% more in 2016 than in 2015).
The adoption rate for Snapchat is very
high; it is the second most popular social media platform in America. Awareness
for Snapchat has surpassed Pinterest and LinkedIn, with an awareness of 71%
with Americans over 12 years of age. To take advantage of all of these engaged
users, there are three different options available for you to market with on
Snapchat's platform: lenses (or filters), Snapchat advertisements, and
geofilters.
1. Lenses: Lenses are superimposed filters
on videos and images users will create with their cameras and the facial
recognition software in place. The price range for these types of sponsored ads
are in a higher range and are negotiated with the Snapchat Ads team. That said,
to help you quantify or understand the investment that could be implicated, you
should know that some sources indicate that for these types of ads, you can
expect a price range of $450,000 to $500,000, depending on the day of the week.
2. Advertisements: Another solution that
would be less of an investment is Snapchat ads. These ads are seen by users'
choice (the user must click on the ad to see its content), therefore creating
better efficiency. They are shown in video, application or web page format.
The price entry in terms of media costs
for a Snapchat Ads campaign is about $1,000. This is the entry-level
investment, implying this type of investment might not get you the results
you're looking for; an investment upwards of $10,000 for this type of campaign,
excluding any content production, might get you better results.
3. Sponsored geofilters: This is a lower
investment option that could bring some interesting results. The process to
create these is really simple. You must target a geographical region that will
be touched by your geofilter. Users in this region will be able to use your
filter in their content creation (images, videos, etc.). The videos that
Snapchat put forth really show that we are aiming a market with lower
investment capabilities, but could be really efficient also in a geotargeted
marketing strategy.
Again, setting the investment capacities
is important. As a rule of thumb, the $5 for 20,000 square feet is what is
predicted for this type of ad. Take the time to think about your user's intent.
Just pushing your company logo won't work. Remember, you want this to be used
and seen by your clients.
Who are these Snapchat options for?
Creating a lens advertisement can get you
in touch with most of the platform's daily users. Take, for example, Taco
Bell's lens, which reached 224 million users. If you are working on brand
awareness and money isn't an issue, especially in launching an unknown brand,
this option is good for you.
The ads that are consumed by choice can be
interesting in helping you drive specific actions to your users. It will mostly
help with brand awareness, but since the user chooses to see this content,
efficiency for conversion to sales or other actions is higher in this case than
the other options. Since you are investing based on these interactions, you
know you are paying for ads that are consumed with intent.
Finally, if you are looking for an
economical way of touching people who are geographically close, geofilters are
a really good solution. Just keep in mind, this probably won't drive sales
directly.
How can Snapchat help me engage with a new client base?
There is a high volume of adopters and
daily uses that ensure the platform is consistently relevant. Users are more
often than not in a mindset of looking for entertainment on the platform. Don't
expect that your sales and conversions will be driven in high numbers through
Snapchat; use Snapchat in combination with other channels in which the user is
in a purchasing mindset. But one thing is for sure: Snapchat will help with
your brand awareness and make sure you are "top of mind" for users in
their journey to purchase.”
SOURCE:
Forbes (https://www.forbes.com/sites/forbesagencycouncil/2017/02/22/looking-to-build-brand-awareness-advertise-on-snapchat/2/#5c60b58c1f86)
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