Smaller brands are using Snapchat to deliver content to consumers in a more intimate environment, according to the latest quarterly report about marketing usage on the platform published by third-party measurement vendor Snaplytics.
More than 800 influencers were analysed on the image messaging app between April and June, and while there was a downward trend in activity overall, the share of small brands was actually eight per cent larger compared to rival platform Instagram due to the popularity of “under the radar” strategies for driving engagement.
Instagram generally offers brands a greater potential to reach a wider target audience, and its Stories feature is gaining significantly more traction with larger brands. However, Snapchat remains a useful content outlet in the marketing mix for brands of all sizes, and the latest report suggests that its usage remains healthy overall.
Marketers prefer to post content on Snapchat late in the week and over the weekend, as Thursday, Friday and Saturday are the most popular days, and respondents said that they publish creative videos and images at least three times a week. Each of the Snapchat Stories posted by brands also have an average of six Snaps and contain more clips than images.
Marketers will also be pleased to hear that completion rates for Stories remains very high at 91 per cent, which is a four per cent increase on the figure from the final quarter last year. This suggests that consumers are engaging completely with content posted by brands on the platform.
“There is a lot of debate about Snapchat vs. Instagram Stories. I do believe the data shows there is room for both, and each has something unique to offer to their users – Instagram for scale, Snapchat for intimacy – both with excellent ROI,” Snaplytics co-founder and CEO Thomas Cilius added.
A separate study by Ad Age and RBC Capital Markets found that advertisers are less likely to increase content spend on Snapchat compared to Instagram due to challenges with measuring ROI, targeting consumers and driving engagement. The 1,600 marketers surveyed also said that increased competition from other social sites makes Snapchat a less viable platform for investment.