Traditional social media advertising presents plenty of opportunities for digital marketers to encourage brand interactions with motivated consumers. While platforms like Facebook, Twitter and Instagram are generally well understood by marketers, newcomers like Snapchat may be more difficult to pin down.
Snapchat and marketing
Since the launch of its IPO last year, Snapchat has maintained a commitment to improving the platform for advertisers. The site features a number of self-serve tools to help marketers grow their presence on the site.
Snapchat has also taken into considerations concerns from advertisers and investors alike, making significant improvements to its metrics and analytics features. The site now offers better cross-platform data tracking and third-party measurement capabilities.
From a marketing perspective, Snapchat generated a solid $281m in ad revenue during the last quarter of 2017. Clearly, there is potential for ROI for digital marketers who are able to leverage the platform.
How brands are using Snap to sell
As the popularity of Snapchat as an advertising platform grows, more and more brands are using the site to reach customers.
When Snapchat first launched, it was a tightly controlled photo sharing app. Now, the platform is more open, with a more sophisticated adtech approach. Brands are able to purchase ads on Snap via auctions, which helps boost competition for space.
Snapchat’s vertical video feature also makes it possible for brands to push content in the app’s Discover section, and more innovative functions like ‘try before you buy’ have proven successful as well.
Still, for most digital marketers, Snapchat remains something of a non-entity, failing to draw the same level of attention – or ad spend – as bigger social media players like Twitter and Instagram.
“From the brands that I speak to, hear from, and read about—Snapchat executions of big brand ideas are indeed very much still an afterthought,” said Ogilvy planning partner James Whatley.
Many industry experts believe Snapchat simply needs more time to perfect its advertising reach and prove its value to digital marketers.
Snapchat is showing a notable commitment to improving its platform for advertisers and marketers. For now, the site is focused on courting big, international brands like Nike and BMW, but over time it’s possible that opportunities will open up even more for smaller brands to find success.
For these brands, Snapchat offers a level of creative engagement and innovation that is hard to find on other social media sites, which certainly justifies some attention from digital marketing professionals.