The view from here
Oh Snap! Snapchat Just Upped Their Ad Game
Aside from their recent IPO and impressively speedy insertion to the advertising realm, Snapchat has been taking their supplements and have given their ad platform a serious enhancement. With 166 million daily active users worldwide being reached by publishers like Cosmopolitan, CNN and National Geographic, target audiences can and are being found on Snapchat with endless opportunities to interact with brands at the swipe of a finger.
US Snapchat Users
As more brands are recognizing the importance of having a presence on the platform, the social tool is reciprocating the support by offering useful and incredibly relevant ad types. We’ve narrowed down and present to you the top 5 exciting new developments advertisers can utilize when spending social ad dollars wisely:
1. Ad & Business Manager + Mobile Dashboard
Yearning for the familiar face of social media ad managers? Now you can now see your campaigns, ads and various settings in one, very colorful, place. Buying media on Snapchat was previously a blind trust exercise, but after recent developments, advertisers can submit, optimize, manage and find analytics on campaigns housed together for your convenience. And bonus(!), there’s a mobile dashboard for you to manage campaigns and pull data while you’re sitting in traffic or want a real-time update.
The reassurance the dashboard and manager provide is backed by some stats pulled by the experts at eMarketer; ad spending continues to increase as marketers discover the value in being on an instant, digital and innovative platform. Savvy brands are investing their ad dollars in more digital with the future of digital in mind.
Snapchat within Digital Ad Spending
2. Creative Construction
Since Snapchat is a video-centric platform, having vertical video that’s less than 10 seconds is absolutely vital. But unless you’re spitting out video creative from your always-on GoPro, it’s not likely you’ll have enough content to stay relevant.
Fear not! Snapchat is providing “re-cutting” services for your convenience. This means their snappy creative team will repurpose, reshape, reformat and slice your pre-existing content into perfectly tailored video for your campaigns.
Why provide such service? Snapchat wants to make sure there’s enough of your content in circulation to keep Snappers intrigued, engaged and entertained. In a recent article by Variety , “Snapchat is getting into the content game because it wants to keep its user base inside the Snapchat ecosystem (and away from competitors) for as long as possible; the average Snapchat user returns to the app 18 times a day.”
3. Snap Ads in User Stories
You thought your ads were only going to be seen in Discover? Think again! Snapchat is putting your creative content where users’ are putting their own snaps.
Picture this: your target user, a 23-year-old female who resides in Atlanta with fashion interests, has just snapped a selfie at Lenox Mall and is now tapping through her friends’ stories. As her fellow Snapper’s last-filtered video ends, she sees your carefully constructed video and is instantly introduced to or reminded of your brand. Ta da! You’ve successfully been personal, fun and effective thanks to Snapchat’s User Stories placement.
4. Video View Goal-Based Bidding
As mentioned, Snapchat is all about the video assets. And, if we’re being honest, video is taking over the future of media. Static images are comfortable staples, but social users are accustomed to and expect video in their daily feeds. Snapchat’s ability to focus on this moveable vision has put them in their own buying pool, and they’ve formulated a way to bid based on views in the auction.
Advertisers who utilized Snap Ads within Discover “experienced a 16% increase in the average monthly reach of their TV audience compared with a 5% decrease in the six-month period prior to the partnerships,” according to Variety. By adding User Stories as a placement, Snapchat is expanding reach and providing an even more efficient way to spend.
The combination of cord cutters and TV being repurposed for Snapchat makes it a no-brainer to follow viewers to their phones, so Snapchat explained bidding as their way to “deliver ads to help generate the most views at the lowest cost,” whether that’s the swipe-up or a 2-second view. Metrics include video views (impressions), CPV and average video view time.
5. New Publishers & Snapchat Shows
Snapchat is known for its disappearing content, so unlike being able to save on all other social platforms, users are obligated to stay up-to-date on content and develop a slight FOMO complex. The above view-based bidding goes hand-in-hand with being in the RIGHT NOW. With this knowledge and tv publishers recognizing the hype needed to boost viewership before and during a show’s airing, Snapchat is one step ahead by offering original series called “Snapchat Shows.”
From reviving MTV Cribs to the continuation of Good Luck America, Snapchat original content has proven to bridge the gap between TV and social. “It’s part of a broader evolution in the coming months, sources say, that aims to make content a more central part of the Snapchat experience — a function that tends to get overshadowed by the app’s primary use as a messaging tool,” Variety also stated. And Snapchat’s evolution to content creation and social hub will only continue.
Alongside Snapchat Shows, the platform is adding more publishers to the mix, so if users don’t have basic cable or magazine subscriptions, they can still stay in-the-know. A few of the anticipated additions include GQ, Esquire, The Washington Post, New York Times and NBA. If you weren’t interested in the variety of content before, there’s sure to be something to spark your attention now.
So Snap To It!
Snapchat’s ad revenues are on a rapid trajectory. With Facebook and Google topping the ad revenue list, Snapchat seems to be operating on its own schedule with no concern for competition. They’ve made it onto the list to the ad revenue mavens’ party and will likely co-host the event in coming years.
Snapchat Ad Revenue
So whether your social strategy includes awareness or DR campaigns, don’t finalize your plan without a look into Snapchat’s self-serve or managed social initiatives. Your brand and its audiences will thank you.
Interested in leveraging these best practices and strategies? BKV can help!Contact us