Today is the longest day of the year which marks the exact half of the solar year, and if you’re starting to wonder what to make of this year in digital marketing, one thing is now pretty clear: 2016 is the year of Snapchat.
I have to confess that I had to ask the help of my tween daughter when I first started to use Snapchat, all these sliding left/right, up/down, and filters and story and … no likes? no saves?? I opened the account over a year ago, but I started to use it only recently because she spends a lot of time there I want to check what she’s doing, but also some of my friends are also there and by snooping around I discovered that it’s actually fun.
Yes, apparently fun is the main appeal of Snapchat with its silly filters and multicolored scribbles it has already conquered the younger users, and according to eMarketer’s recent projections it is poised to grow 27.2% in the US alone this year. 12-24 yr old will still account for the majority of Snapchat users (58% projected in 2016), but also the more mature millennials (25-34), i.e.: the ones with more disposable income to spend, will more than double this year making it a very interesting channel for a lot of advertisers.
In a recent survey sponsored by Snapchat, MediaScience has compared Snapchat video ads to those on TV, YouTube, Facebook and Instagram on a sample of 320 consumers age 15-54. In the results quoted by Adweek, Snapchat engagement was between between 1.5 and 2 times higher compared to the other channels. Beyond testing, the experience of several brands, like Gatorade and Top Shock beer, has registered good results with the advertising formats available at the moment, namely the 3V (vertical video) and the Lens (customized filter).
And it’s not surprising then that Snapchat has recently announced an expansion of its advertising platform which includes the launch of its own API (application programming interface). For this development Snapchat has brought to its table 20 new media partners, a smart mix of well established brand names and cutting edge new comers. The main takeaways from this announcement were:
- Ads on Snapchat can now be bought also through partner agencies: 4C, Adaptly, Amobee, Brand Networks, SocialCode, TubeMogul, Unified and VaynerMedia. Inventory will be sold through an automated auction-based system.
- Two new advertising formats will also be rolled out soon: the Snap Ads Between Stories, which they promised will not spoil the user experience, and API videos, that is videos with interactive features (swipes, clicks) to discover further content and link to pages. These format are expected to be less expensive than the existing premium video (currently running at $40-60 CPM), making the channel more approachable for brands. This makes a lot of sense, because I’m sure most marketers, who in their majority are aged +24, will definitely need some time to experiment, in order to fathom how to work with the channel of the little funny phantom.
- More analytics: advertising reach and other juicy data will also be measured by several big names such as: Nielsen/Comscore and Google DoubleClick, as well as new medium specific ones such as Appsflyer and Innovid.
Yes, 2016 is the year of Snapchat, and they are ready to make the most of it!
This is me having fun on Snapchat as the crazy cat lady 😉 Add me on Snapchat: mariaelenanyc