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Snapchat: The Fastest Growing Platform Ever

  1. Snapchat: The Fastest Growing Platform Ever
  2. What Has Changed Since Last Year?
  3. Last Year: Issues We Saw Difficult to Build an Audience Unlike other social media sites where users can scroll through a permanent, public, feed, Snapchat is temporary and communicates only with pre- existing followers Live Stories and branded filters have solved this problem by being available to any Snapchat user on a given day Scale If brands are using Snapchat as a way to communicate to followers one-on-one then it is time consuming but that is not how most brands use Snapchat anymore Using Snapchat so narrowly is inefficient, smart brands create content for large audiences Metrics Up until recently, Snapchat did not have a concrete way of measuring engagement and providing marketers with information related to their investments Snapchat’s new partnership with Nielsen will produce better metrics
  4. This Year: Chat 2.0 and Customized Snapchat Ads On March 29, 2016 Snapchat released a set of updates known as Chat 2.0. In the update, Snapchat changed its privacy policy to allow advertisers to access customer data and customize ads. Snapchat is ready to compete for bigger digital ad budgets. Advantages of update: ● Better targeted ads ● Offers brands the ability to fine-tune messages based on the intended audience Snapchat has been developing ways to better understand users and the types of content they consume. ● i.e. content from Discover publishers gives better direction to the interests of readers
  5. Snapchat API Snapchat is building an application programming interface (API) that will provide the software “hooks” that will allow some ad-tech companies to automate the targeting and delivery of ads to the right Snapchat users. This initiative provides hope for a bigger digital video ad market with real potential for brands, publishers and Snapchat itself. It will improve ad targeting for people watching the media companies in its Discover section and tracking of visitor browsing and searches beyond the app. It creates a way for brands to check on how many people have actually watched their ads.
  6. Snapchat vs. Instagram with Teens In an April 2016 Piper Jaffray survey, it was discovered that Snapchat has officially surpassed Instagram as the app of choice for teens. 28% of teens consider Snapchat their primary social network. Instagram still has 400 million daily active users to Snapchat’s 100 million but Snapchat’s users definitely skew younger.
  7. What Are Snapchat’s New Projects?
  8. Discover Snapchat has enlisted 20 publishers in an ad supported, revenue-sharing partnership based on 6-month contracts. Snapchat has locked in deals with these publishers but will likely look to re-evaluate their portfolio in the long term. ● Major advertisers are on board: BMW for CNN, McDonald’s for Comedy Central, T-Mobile for Daily Mail, the Universal Pictures movie The Seventh Son for ESPN and Ritz Crackers for the Food Network. Discover is more of an online magazine than social media platform. The content is as varied as the publishers, encompassing a mix of text stories, video, and photos.
  9. Live Stories: Localized Storytelling Live Stories give users—who have their location services on and are located within the Story’s range—the option to contribute Snaps to a hyperlocal that is then published globally. These Live Stories are fairly long and feature 10- second ads spaced throughout bought by brands and produced by Snapchat creators. The pricing for these ads is pay-per-view.
  10. Live Story Pricing 2 cents per view Views worth a total of $400,000 Live Story is still in a growth phase because content created for Snapchat is difficult to learn. FDG is an expert at developing Stories organically. 20 million potential Story viewers Snapchat sees Live Stories as a huge way to connect to users with events like the Coachella Story that attracts tens of millions of viewers while maintaining a relatively low cost.
  11. Sponsored GeoFilters Snapchat geofilters are a form of proximity marketing in which a brand engages with customers in real-time without ever sending them a single mobile message. Companies are able to purchase either national or regional filters for their own branded message. Even if the filter is not widely used, it will still generate views by users who are scrolling through the filter options in their region, promoting the brand. Additionally, geofilters pose a great opportunity for marketers to get local Snapchat users to spread their message worldwide
  12. Sponsored Lenses Snapchat rolled out the new Sponsored Lenses for Halloween 2015. ● The Lenses themselves were only a month old at the time of the branded content introduction. Lenses differ from GeoFilters in that they are global tools using facial recognition software to interact directly with the user. ● These Lens types include features like face swaps and facial transformations into creatures like aliens and are highly sharable. Sponsored Lenses are a way for brands to make users enjoy interacting with their content through the platform. Cost: $500,000 on weekdays and as much as $750,000 on holidays, however 12-16 million uses makes it a bargain for some brands
  13. Entering the Messaging App Market • More than 200 stickers, searchable by keywords • Video calls allowing for dials to people also not present in the chat • Audio chat • Access to camera roll from messaging screen The new chat interface is more familiar – and more accessible. It introduces media in its own unique way – designed to put every form of input on equal footing, encouraging users to choose whichever ones feels natural in the moment. Snapchat’s most recent redesign bolsters its chat function with a variety of new multimedia features unique to the major video chatting services, and helps to answer the question of why you might want to use Snapchat’s video calling feature over FaceTime, Hangouts, Facebook Messenger, or Skype.
  14. Why Should Brands Use Snapchat?
  15. Advantages With low-price ads, Snapchat has been attracting the attention of more brands. Snapchat reaches 41% of 18-34 year-olds Every Day. Snapchat is tied with Facebook’s daily video consumption at 8 billion views despite being around for less than half of Facebook’s lifespan. The average attention span has dropped to 5 seconds from 12 in the last ten years, making the short- form Snapchat platform perfect for marketers today. Snapchat users consider their interactions on the app more personal and organic than any other platform.
  16. The Business Strategy Snapchat is finally embracing marketers and taking important steps to become a sustainable media property with a real advertising platform. We call that: the ad tech moment for Snapchat. Snapchat is ready to lead the Big App Club in this key area - which is very good news for all advertisers. Additionally, the company is testing longer-form sponsored videos on Discovery channel partners, including spots that click through to full-length movie trailers from three different movie studios.
  17. Snapchat is letting advertisers target ads within publishers' channels in the app's Discover publisher portal based on the specific content people are checking out. Users will be targeted based on their off- Snapchat web browsing and search behavior in addition to targeting specific gender and age groups by utilizing location, device, and context. Ad Targeting
  18. Brands can leverage the one-to-one interaction with each customer to: • Engage with mobile users and tell brand stories • Humanize your business • Build brand loyalty, drive sales and ROI • Communicate authenticity Snapchat brings technology back to a more personalized peer-to-peer communication. This unique mode of communication provides an opportunity for brands to build intimate, individualized relationships with their target customers. Personalized Experience for Users
  19. Growing Branded Content Many marketers are hesitant to experiment with Snapchat’s ad-supported structure. • The mistake here is waiting to jump on the Snapchat wagon and establishing themselves as a digital innovator that understands short-form content and today’s messaging habits. Snapchat is still working on improving their branded content integration and planning to make the process and connection easier for brands looking to buy ad space. However, Snapchat has been actively working to close gaps in its advertising campaigns with efforts to collect and quantify more data. Their new partnership with Nielsen is a sign of this effort.
  20. What Does Snapchat Success Look Like?
  21. Taco Bell has been one of the Snapchat leaders. Taco Bell launched a Valentine's Day campaign to send a personalized, funny message to your special someone. ● The filters were designed by Taco Bell’s dedicated Snapchat department and focused on millennial engagement. Taco Bell showed the viewer detailed instructions for personalizing and sending the Snapchat Valentine. ● A nice touch given that might be redundant for veteran users of the platform, but definitely nice for neophytes Taco Bell
  22. Straight Outta Compton 83% of Snapchat uses thought the as fit well with the platform which is why it did so well. 21 point lift of the Straight Outta Compton movie amongst 18-34 year-olds. The Straight Outta Compton movie promotion team created a filter playing off the popular logo. The filter tailored to specific cities throughout the country so that the text read “Straight Outta” your own city.
  23. Los Angeles County Museum of Art (LACMA) LACMA is using the platform to engage a whole new generation with the world of fine art. This is the the first museum to get on Snapchat and it manages to turn fine art into funny, shareable, memes. LACMA’s snaps have gone viral all over the world and have garnered huge publicity for the LA museum. This is an excellent way to get teens interested in art.
  24. Shaun McBride McBride, known as Shonduras, is a Snapchat celebrity and artist known for transforming his pictures is amazing ways with his illustrations. Shaun is one of Snapchat’s power users and has represented brands including Disney, Taco Bell, and Marriott on the platform. The Disney campaign involved him visiting the Walt Disney theme parks and documenting his visit on Snapchat along with his usual illustrations.
  25. Dominos and KFC Dominos created a Snap Story that including a promo code for a discount on the user’s next order. The story got 6,000 organic views in the 24 hours it was available and was a huge success. KFC created geofilters that were fenced into 900 of the chain’s locations around the holidays. Users could use the filters to decorate their photos with seasonal frames and themes.
  26. DJ Khaled Famous producer DJ Khaled rose to success rapidly by documenting and sharing aspects of his day-to-day life. Some of the brands being endorsed through his stories are Cîroc, Bumble and Dove. He gained over 6 million followers in just a few months and has become the most talked-about user on any social media platform. His contributions tend to balance somewhere between off-the-wall comedy and genuine deadpan tips for life. As his popularity skyrocketed, brands signed on to sponsor him in exchange for a mention in his Snap Story.
  27. What Should Your Brand Be Doing?
  28. Keys to Success The success of Snapchat is a testament to the power of direct connections In order to create a brand presence, you’ve got to be one of those connections; it’s not enough just to be shared; you have to be the sharer. You’re not consuming individual stories, you’re taking an active role in a threaded message which includes multiple stories. That’s how you build brand value.
  29. The Right Contextual Tone Marketers need to be aware of their audience's needs, interests, etc. to develop the right tone for their Snapchat account. This tone is determined by the target audience who could be early teens to board room executives. If is essential that the account cater to this audience’s needs, board room executives do not react to cat videos the same way Millennials do. Brands will use Snapchat to: ● Provide a global look at a local events like Coachella ● Offer promotions like Dominos discount codes ● Give viewers a behind the scenes look ● Partner with major influencers like Disney and Shonduras
  30. Engagement with Users Through Video Snapchat is already becoming the best way to connect consumers with their daily Stories, interests, and events through video. From a brand perspective, Snapchat, when used correctly, can be one of the best ways to build and establish relationships with consumers. That trend will grow in the coming years as more marketers learn how to effectively establish a presence on the app. The key is connecting with users during their digital down time—time they spend browsing their Snap Stories and scrolling through Discovery.
  31. Key Takeaways Advertisers have four main options when looking to reach their audiences: ● Discover ● Sponsored Live Stories ● GeoFilters ● Geo Lenses Failing to act on the opportunities Snapchat offers for brands to connect to their target audience, particularly millennials, is a huge mistake. Snapchat users consider their interactions on the app more personal and organic than any other platform. To further improve the experience for advertisers, Snapchat has been actively working to close gaps in its advertising campaigns with efforts to collect and quantify user data. In today’s landscape, to be successful is to understood that the user comes first, data drives direction, and digital context is everything. Snapchat is well on it’s way to all three.
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