Has your business considered employing Snapchat advertising to increase customer conversion rates? With 166 million daily users opening the app an average of 18 times per day, the potential customer base cannot be ignored. But with a price tag as high as $700,000 for a custom filter, it has been difficult for smaller companies to get on board. Now, Snap Inc. is under increased scrutiny due to its poor performance since becoming a public company. Competition with Facebook (read our blog on Augmented Reality and Your Marketing Strategy) has also driven Snapchat to make changes. Luckily for smaller brands, this all means Snapchat advertising features are about to become more affordable and accessible! Snapchat will soon be offering a self-serve advertising platform much like Facebook’s. Other changes will ensure that sponsored World Lenses, specific Geofilters, and targeting capabilities can be utilized by your business to increase your customer conversion rates:
1. Sponsored World Lenses:
This is a virtual effect that can be displayed in the real world through using your phone’s front-facing camera. Currently being employed by Netflix, Warner Bros., and Dunkin’ Donuts, this feature has huge potential for advertisers. While the price of a custom World Lens runs $100,000 to $750,000, putting it out of the reach of smaller brands, the floating 3-D graphics hold huge potential for advertisers in the future. Snapchat has cut down the lens development time from eight to six weeks. The company said it will allow advertisers to use its version of augmented reality as well as clickable objects in future campaigns!
2. Specific Geofilters
Filters that frame a user’s snap with specific location information are becoming more specific. Snapchat has yet to roll out this sponsored tool for brands, but Facebook has done it, so Snap will likely follow suit. Currently, snaps tagged with Geofilters are viewed over 1 billion times each day, on average. Once this feature becomes a customizable advertising option, users will be sharing your specific business location information with their entire network.
3. New targeting capabilities
Snapchat wants to make targeting more specific. Previously, only nationwide campaigns were available. But now, advertisers can target people based on location, age, gender, and the content they have viewed. Snapchat ads will also now guarantee number of impressions for targeted audiences. This will create a better response rate and also mean lower costs for advertising on the social network!
On top of all these filter and targeting options, a new mobile dashboard for analytics will be available to businesses advertising on Snapchat. These features are currently in a private beta test, but Snapchat plans to make them available to everyone in June. This means brands of all sizes can begin experimenting!
If you are questioning if you can benefit from social advertising, let us walk you through the basics and explore what options you have. BlueTreeDigital focuses on Conversion Rate Optimization (CRO) which means we don’t focus only on good number, but also that the people who are engaging with your company are the people that you want. Our advertising services will quickly grow your business and help you communicate with your target audience! Now is the time to begin planning and experimenting with the new Snapchat advertising options to engage the social platforms’ 166 million daily users.