Snapchat is all fired up for the coming year, 2018. Snap, snap, snap! Recently, it launched a series of tools and features to compete head to head with Instagram. Did you think Facebook? Nah!
As of Q3 2017, Snapchat has 178 million daily active users and 10 billion videos are consumed per day. It’s giving tough competition to the Facebook on video consumption.
This what catches the eyes of marketers and advertisers. It has a strong consumer base and is consistently growing every year, but 2017 saw the lowest growth rate ever, only 4.2 percent at the end of Q2 2017.
Instagram, though, nailed it with its stories feature, which led to the decrease in the growth rate of Snapchat. Apparently, I’m more active in Insta.
The decreasing growth-rate report was not to discourage or break hearts, instead to put emphasis on its several recent developments for better user experiences.
Honestly, it saw a huge chunk of net loss, 433 million dollars, in the Q3 of 2017, so now it wants to increase the revenue. You may be asking the most genuine question, How?
It’s simple, Snapchat wants to attract businesses to promote and advertise more on their platform. What could be the possible ways to do that?
Well, the steps should be to provide more thorough and deep targeting, higher lead conversion and engagement for brand awareness, and powerful measurement tool.
Do you know Snapchatters on an average spends 30 minutes on Snapchat over a day? Can you believe that!
Over a few months, I have observed the Snapchat very closely. The decrease in the growth rate and revenue does not mean it’ll be out of business. Business is like a life, which also faces ups and downs during its journey. However, Snapchat retaliates to its threat aggressively.
Snapchat throws the three Aces: Context Cards, Snap Pixel, and Audience Filters. It’s a jackpot for Snapchat. Businesses should keep their eyes on these three major cards and play accordingly.
Now, I’ll put some awe moment facts for you guys.
- Interactions with close friends in Snapchat are 50 percent more likely to happen than Instagram and Facebook.
- Snapchat households spend 39 percent more annually than the national average in retail stores.
- 39 percent of Snapchatters send snaps to ask for opinions during shopping and 35 percent want to share about their shopping location.
- Up to 67 percent, the first two seconds of the snap ad has the most impact on ad awareness.
No doubt, Snapchat is one of the most used apps during the shopping. Do you remember taking snaps in the changing room?
Let’s go through the three aces-
1) Context cards– It’s a new idea created by Snapchat which allows the consumers to replicate and follow the content. Beware Snapchat, Facebook and Instagram may copy it!
The concept behind this new feature is to make the snaps easy and ready to follow, more like spoon-feeding. You may be thinking but how, right? What’s so special about this “Context cards”? Okay guys, keep reading…..
First and for most, this is free for advertisers. Advertisers, with the help of context card, can simply provide more information about their business or brand. What’s new? Well, the information is easy to consume.
Let’s say, you saw a snap with context card, at the bottom there will be a “more” option, swipe up and Kaboom! You, Snapchatters, will be taken to a new world without leaving the current page. Okay, and.
For example, let’s say you saw a snap of a Starbuck and swipe up. When you click on the more, you will get the direction to Starbuck or book an Uber, see reviews, make reservations, contact details, and much more. That sounds super fun and easy to follow, right?
Currently, it’s available only in the US, but soon will be launched worldwide, just wait for 2018.
On the top of this, advertisers will be able to track its performance with additional reporting in their metric, like the context cards impressions, clicks, and CTR. Merry Christmas to advertisers, marketers, and businesses and hope they like this gift from Snapchat.
2) Snap Pixel– Measuring the customer’s journey across different devices was a big problem for advertisers on Snapchat. But not anymore.
Snap Pixel is the new extra measurement tool for helping advertisers better study and understand their customers. It can be added to the Ad Manager or any preferred API.
Snapchat says this is just the top of the hill, more features will be added to this tool soon, like custom audience creation and real-time optimization. It gives more than the measurements, like precise and better targeting can be done with it.
But how does it work? As I said before, it tracks customer’s journey across multiple devices. As a human being, we may swipe up after seeing a snap and chose to look at the brand’s mobile or desktop site. Who doesn’t do that? Let me know in the comment section.
So basically, it tracks the activities after snapchatters swipe up or the activities on the brand’s mobile or desktop website after closing the app.
Again, Merry Christmas for advertisers and publishers.
3) Audience Filter– Advertisers are always worried whether their snaps are reaching the relevant customers or not. With this new feature, advertisers can narrow their campaign and filter the audience as per their preference. It’s like finding all the foodies in Snapchatters and targeting them.
This will save a huge money as well as give high ROI from the ads. How?
Before there was no such filtering of audiences because of which the targeting of the audience was region wise or micro geofences. It means that a diet conscious man could be seeing a cheesy and creamy and heavy food ads before, which he will obviously can’t resist but will ignore it anyhow because fitness comes first to him.
But now, such heavy food ads can be targeted to the foodies. In the same way, ads related to sports to the sports fan. I think I’ll see many ads on Snapchat from now. Guess what! I’m a foodie as well as Sports fan.
The final question comes, how do I get the Audience filters? It can be purchased through Ad Manager and also through Goal-Based bidding, which will be based on your goals, such as impression, views, swipe up, and app installs, at a very low cost.
Without the reporting on metrics, advertisers and publishers using Audience filters would be skeptical of its effectiveness. That’s why Snapchat gives you all this freedom to see how is it working for your business in your metrics.
Holidays are coming soon and Snapchat wants the businesses to take full advantage on this end of the season and early 2018. Snapchat marketing will see some boost in the coming year.