I won’t lie: I wasn’t an early adopter of Snapchat when the disappearing-photo app first arrived on the scene. Call me a smidge shallow, but my rationale was always that if I’m going to take the time to capture a picture of my oh-so-perfectly arranged lunch in lighting so undeniably”#nofilter needed” good, then I’d like to at least think that I’ll score a few “likes” out of the deal. But with Snapchat, I find myself a bit perplexed. I mean, what’s with all this “disappearing” photo business? Where’s the recognition for my impressive food photography skills, and how on earth will my glorious meal live on in infamy?
Slowly, (and after receiving plenty of Snapchats from friends), I came around to adopt the idea. I figured, what the heck- it’s catching on, so there must be something behind the phenomenon. Stories I’ve heard repeatedly speak to it’s benefits, and I’m not the only one getting in on the Snapchat game. In fact, the app has topped 100 million monthly users. And as large of an audience as that is, you may be surprised to discover that national brands are willing to shell out $750,000 a day (!!) on disappearing ads featured in the “Recent Updates” section. Seriously. Over half a million big ones for ads that only last for 24 hours? That’s mind blowing.
…Or is it?
[quote] The reasoning behind Snapchat’s high price tag for advertising is that it’s not merely reaching a sizable audience — it just so happens to be the largest audience – made up of the most challenging demographic for advertisers to reach effectively: teens and tweens. [/quote] As young adults move away from Facebook, and toward picture and video-heavy social media formats like Vine and Instagram, Snapchat makes a excellent case for the logic behind a heightened minimum cost per ad. In addition, it’s immediate, and since users are required to click directly on these ads to view them, there are some pretty strong opportunities for engagement. On the other hand, there are no analytics for advertising on Snapchat like we find on Facebook, which understandably leaves plenty of brands a bit leery at the prospect of paying such a high cost without numerical data to effectively back it up. Brands such as McDonald’s are currently reaping the rewards of Snapchat advertising (even without the analytics support), and other companies – such as HBO, Nars, Macy’s, and even the New Orleans Saints – are following suit by using the app. While not all companies have the budget required to shell out a pretty penny per ad, there is always an opportunity to reach the teen audience organically as a low-to-no-cost alternative. This method may not have nearly as much reach, but it does include limited analytics (you have the opportunity to view who has seen your post – although often only during the specified 24 hour time period in which your ad appeared).
Personally, I’m not surprised that brands are forking over that kind of dough (pun absolutely intended when thinking back to my photogenic lunch) to advertise on Snapchat. If all the kids are doing it, it’s only a matter of time until companies are following suit. The question now is, “Is it there long-term value?”
Looking for some digital know-how, or have questions regarding how to best enhance your brand’s presence via social media advertising? The team of experts at our Florida digital marketing agency stands ready to provide ongoing support and strategic direction – advice we promise will last longer than your most recent Snapchat. Contact us today to start the conversation!