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Snapchat Advertising: Now you see it, now you don’t

What’s shiny and new will always be enticing, but is it the best thing for your business? Snapchat is a fairly recent app that allows users to snap photos, caption them, and whisk them off to their friends. Once viewed, snapchats simply disappear, as if they never were. This encourages a constant stream of new content, therefore offering ample opportunity for advertising. While it may be exciting to consider jumping on board this new craze to get your business name out there, it’s important to consider a few things about Snapchat advertising first.
 
1.       When first introduced, Snapchat advertising was crazy expensive. We aren’t exaggerating. CRAZY expensive. ($750,000 per day, who can afford that?) Fortunately, Snapchat did more or less come to their senses by lowering advertising rates to around 2 cents per view. This is far more competitive when compared with the likes of Adwords or Facebook advertising – think of it as a $2.00 CPM, or, the cost to reach 1,000 viewers. Depending on your campaign keywords and advertising niche, this could be cheaper than Adwords advertising.
 
2.       Good digital marketers know that the key to truly successful campaigns is in the data – numbers don’t lie, and the analytics of marketing methods can show what works, and more importantly, what doesn’t. Google Adwords links up seamlessly to its Analytics interface, which provides a wealth of valuable data on who’s clicking your ads and what they’re doing once they reach your website. Facebook also has its own ‘insights’ which show ad reach and engagement.  Snapchat, as of now, has no analytic data or metrics to help advertisers determine if their hefty investment is actually giving them any return. Especially for smaller businesses with a tighter budget, advertising without analytics can potentially be a waste of funds. Additionally, like Snapchats themselves, advertising videos disappear after being shown, so there is no way to share or engage with the material.
 
3.       In many ways the temporary nature of Snapchat and its advertising embodies the mindset of the audience who is using it – the millennials. It’s rare to find anyone of the older generations using Snapchat, which effectively means that any advertising done on the platform will only reach the younger set. Depending on what your business is all about, this could be perfectly fine, but if you wish to reach a greater demographic, Snapchat may not be the best means.
 
Snapchat is taking off quickly, but right now it’s unclear how long its popularity will last. If temporary video advertising almost exclusively to the younger generation fits well with your business model, Snapchat advertising could be a great opportunity. But if your business relies more on traditional principles and you want to reach a more general audience, we’d recommend passing on this one. 

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