Snapchat is booming and smart brands are embracing it in a big way right now. With a current valuation of $16 billion, we expect that it will continue to grow as more and more users and advertisers begin using the platform.
Snapchat caters largely to 13-34 year olds now but it's only a matter of time before the 35 plus set joins in. If you are a brand marketer but have not yet made Snapchat a significant part of your strategy, here are ten reasons to begin doing so:
1. Storytelling -- Snapchat is a linear storytelling platform, which allows people and brands to tell a story throughout the day. This format is different and more effective than individual daily posts.
2. Authenticity -- Content disappears in 24 hours so people are more likely to be themselves, rather than striving to be perfect.
3. Ads That Capture Attention --The fact that content disappears creates scarcity, forcing the viewer to pay attention.
4. CRM – Snapchat is becoming the ultimate CRM channel allowing brands to form ongoing connections with their fans. And for the foreseeable future there is no algorithm to shrink the organic reach.
5. Make an Impact Quickly -- Max video length is 10 seconds catering to quick cuts that keep our attention.
6. Ads That are Content --Marketers get to tell stories that fit with the Snapchat experience and indirectly sell their brand. Traditional ads will not even be accepted by Snapchat as ads.
7. Connection --Snapchat only features content that occurred in the last 24 hours and allows brands and consumers to connect nearly real-time.
8. Creativity -- Lenses and filters are extremely unique marketing tools that have scale. And, it's a good sign of Snapchat creativity to come.
9. Immediacy --"Good for 24 hours" allows marketers to provide immediate calls to action without being the one that is rushing the consumer.
10. Scale - Snapchat has big, fat numbers and it's growing like a weed with 100 MM daily actives. In the U.S. more than 60% of 13-34 year old smartphone users are Snapchatters. It powers 10 billion video views per day up from 2 billion in May 2015.
We couldn't help ourselves. Here are two more bonus tips:
First Mover Advantage -- There are relatively few companies using Snapchat consistently right now, allowing marketers to garner significant attention for their brands. There will also never be an easier time to build a massive following.
More Impactful Ads --Snapchat provides full screen mobile video ads, which have a 9x higher completion rate than horizontal video formats offered by other social networks.
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