According to CNBC’s Squawk Alley, 50% of 18-34-year-olds in the U.S. use Snapchat for 30 minutes a day. Despite the drop in stocks over the first quarter of 2017, it seems this is the perfect platform to market towards millennials. There are three ways to advertise on Snapchat; Snap Ads, sponsored geofilters, and sponsored lenses. Navigating this new system is confusing! Luckily StratGrow is providing you descriptions of the campaigns and their metrics.
Snap Ad Campaign – There are many ways to customize this option. The baseline is a 10-second spot. Businesses have the option adding articles, app installs, long form video, and website views. Pricing starts at $10,000 per a month.
• Reach – How many snapchatters saw your ad. • Resonance – What snapchatters thought and felt about your ad. • Verification – Confirms how many times your ad was served, and provide third-party tracking support from a few partners. • Viewability – How much attention your ad has received.
Sponsored Geofilter Campaign – The most affordable option, geofilters range from $5 – $280,000 depending on how large the geofence is and how long the filter will be available. Interested? More details – Read more details in our marketing to millennials post.
• Conversions – Occurs when a snapchatter chooses your geofilter in Snapchat and opts to send it to friends by direct snap or post to their My Story. • Impressions – Occurs when a snapchatter sees your geofilter while swiping through the filter carousel to select overlays for the snap. • Views – Occurs when friends of a snapchatter view the user’s snap that has your geofilter applied, either by a direct snap or by viewing their My Story.
Sponsored Lens Campaign – Lenses are interactive graphics overlaid while the snapchatters is taking photos and videos. Lenses augment reality and can change your appearance and the images around you. They are by far the priciest form of advertising on Snapchat and starting at $450,000.
• Plays – How many times people had the lens applied to their faces when scrolling through the lens carousel. • Uses – Number of snapchatters who selected the lens and create a snap with it. • Views – Number of snapchatters who saw the lens through a direct snap or by viewing My Story. • Avg. Play Time – Amount of time a snapchatter plays with the lens. • Unique Reach – Number of snapchatters that see the lens.
Snapchat has an interesting position in the advertising market with such a broad range of price points. Large franchised corporations like McDonald’s can utilize Snapchat marketing, as well as small businesses like the mom and pop bakery down the street. Hopefully, this article will enable you to use one of the most effective tools to market to millennials.