Exploring Snapchat for Business Use

1. Exploring Snapchat

2. Value Proposition
• A video messaging application created by Evan Spiegel and Bobby
Murphy, Snapchat saw it’s initial release on September 2011.
• This highly valued company is known for being secretive about it’s
fortunes. A report by TechCrunch in 2014 said the company was
raising $100 million while the Wall Street Journal pegged the amount
at $20 million.
• An SEC filing towards the end of 2014 cleared the mystery and the
amount was $500 million.
The year 2015
• According to a CNBC report dating May 29, Snapchat is in the process
of raising $650 million in equity, which would value the company at
16 billion.
Sources: TechCrunch
CNBC
SEC

3. Demographic Beakdown
More than two
thirds of all
Snapchat users
are under 25
and most are
women,
according to a
report from
Business
Intelligence,
the research
and analytics
branch of
Business
Insider.
Sources: Time
Business Intelligence

4. Business The Snapchat Way
• Build Brand Awareness
Companies can use snaps in a creative
manner to grab the attention of
millenials, a generation that wants
their content delivered to them like
stories.
• Drive business to your stores
People are more likely to purchase
from you if they are sent a Snapchat
coupon.
• Teasers
10 seconds isn’t a long time for a full
campaign, but it’s the perfect amount
of time for a teaser. A potential that
companies are fast realisng.
• Showcase new products
The 10 second frame will force a
companies creative muscles to be truly
flexed. Audiences prefer brevity as
opposed to long posts on social media.
Sources: Hootsuite Blog

5. Should your brand be on it?
B2C, B2B and Snapchat
• Currently Snapchat is more
beneficial for businesses who
are selling to their customers
and not other businesses. The
relationship between a
business selling to another
business is more formal and
structured than that of a
business selling to a customer.
• There is potential for B2B
usage of Snapchat as well,
however businesses are still
reluctant to dive into that.
Sources: Medium

6. Analytics
Snapchat has neither a native analytics tool, nor a significant third party
tool. Due to the lack of a web presence one can’t scrape data off there
either. So while meausuring how well you are doing on the platform isn’t
as straightforward as with other major social media platforms, it isn’t
entirely a lost cause either.
Primary KPIS
• Views: Number of times your
snap has been seen.
• Screenshots: See the snaps
viewers want to save.
• Followers: Cumbersome to
keep track of
Sources: Ignite Social Media
Brian Honigman

7. Continued..
• To Find Completion Rate:
Divide total views in the last
snap from the total views in
first snap.
• To Find Screenshot Rate:
Divide total screenshots from
total views in any given snap.
These are manual ways of going
into detail regarding your Views
and Screenshots. These metrics
are particularly unique to
Snapchat.
Secondary KPIS
• Unique Links: Create a link with
campaign tracking.
• Earned buzz: Mentions on other
social media platforms. Download
your story and publish it to other
channels and see the engagement
that occurs.
Sources: Ignite Social Media
Brian Honigman

8. Brands on Snapchat
Left to Right: Snaps from Karmaloop, CoverGirl and Cnn
Some other brands with a major presence on Snapchat:
San Francisco Giants Food Network
Amazon Birchbox
Sources: Simply Measured

9. H&M on Snapchat
• Fashion retailer H&M
carried out a marketing
stunt in Poland last year
in which they hid tickets
to an exclusive party
named Boiler Room in
stores.
• H&M then sent out
cryptic clues via
Snapchat as to the
whereabouts of the
hidden tickets.
The results:
• 943 new Snapchat followers.
• Over 200 people playing the game.
• 3.8m unique users learned that H&M was
behind the launch of Boiler Room.
• Lots of positive media coverage.
Sources: Econsultancy

10. Can your brand afford it?
• Discover, which was launched in
January, is a section of the app
where users can watch videos or
read stories from different
publishers. The ads within
Discover run for 10 seconds and
are sandwiched between bits of
publisher content as users swipe
within the section.
• The organisational cost of maintaining Snapchat would depend on the
company’s size. A fair guess however would be that the creative brains would
be the most overworked. Simply because creativity is what this app is about.
It is not the place to repurpose content.
• It’d fair to say it is cheaper to maintain than other platforms because
employees and not just social media managers can handle it too.
Sources: CNBC

11. Getting Started ?
Forbes has written a very helpful
article for businesses looking to
utilise Snapchat. A must read for
those looking to traget their
audience in a new and creative
manner:
Check it out: http://goo.gl/HDSF6p

12. The End.