“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)