Did you know that there are more than 8-billion video views on Snapchat daily? Snapchat is the fastest-growing social network among millennials, according to a survey from Harvard University’s Institute of Politics, even outranking the social world’s most recent darling, Instagram. The appeal?
“Snapchat is where millennials get real,” says Shailee Bhatt, VP, Director of Digital Marketing and Social Strategies at GodwinGroup. “In absence of their parents, grandparents, employers — Snapchat lets them share live moments in a selective environment where everything vanishes in 10 seconds or less!”
Private lives are still private. The content is ephemeral (unless you’re lucky enough to grab a screenshot). There are no likes or retweets or hearts. You can choose to only share with people who you care about. This is the new word of mouth: pay attention or miss out.
What it means for agencies and advertisers
Advertisers are trying to get a piece of the pie, too. Digital marketing is — and has been — heading in a primarily mobile and social direction. According to the latest study by We Are Social, 2.3-billion users are on social media worldwide, and of that, 1.97 are active on mobile. That’s a 17-percent growth since January 2015. In the U.S., social users on mobile make up 52 percent of the population. And Snapchat was made for mobile.
Vertical video gets up to nine times the completion rate compared to horizontal video. Ads get the full screen — and their viewers’ full attention. Snapchat can also target by Live Story program, Discover Channel, location and/or gender. But because of the private nature of the app, there are drawbacks. Advertising is currently only open to a few top-tier advertisers. In addition, there are very limited metrics to measure success, but Snapchat pinky promises they are working with leading measurement partners to broaden its capabilities. And unless you’re Buzzfeed or Amazon, ads are out of reach.
So what’s a small brand to do? Snapchat has more value than just paid advertising — it is another platform to tell a brand’s story and show its value to its audiences. And with features like Live Stories and now Geofilters, the social app makes it easier to connect in authentic ways. Snapchat invites users to be part of the brand experience by getting personal and inviting consumers not only behind the scenes, but right into the heart of the action.
Millennials are consuming and curating content daily. They want to feel connected, stay informed and be heard. They don’t just want a product, they want an experience and relationship with a brand, and Snapchat creates a platform for this like no other.
Connect with Godwin on Snapchat — and check out one way Godwin and client MDOT are utilizing this growing platform: GodwinGroup and MDOT Test First State Agency Snapchat Filter