However, to anybody investing in the progressive side of marketing, embracing new technologies and recognising the importance of brand in modern digital advertising, Snapchat is a brilliantly accessible, affordable new way of reaching millions of people.
Here’s 3 reasons you NEED to advertise on Snapchat.
1- The best Click-Through rate available.
Okay, so it’s not technically a click-through rate, but Snapchat’s Swipe Up equivalent has a 5x higher rate than the average CTR of any comparable social platform. (source)
2- The best reach for the biggest potential spenders
72% of people aged 12-24 actively use Snapchat. BEFORE you start to think ‘these are just young people, they aren’t decision makers, and they have no buying power’, you need to start thinking long term. Getting these people on board with your brand now will help your long game. In fact, that generation is set to spend $1.4 trillion per year by 2020, and are in line to inherit $30 billion. How’s that for buying power? (source)
3- The CPM is TINY (if you’re smart)
Imagine a CPM of $0.27. That’s a grand total of $0.00027 per impression. Not bad as brand campaigns go.
Now this isn’t always the case, and some reports will suggest that Snapchat will cost you $20-40 CPM, but some instances such as this show that paying $62.98 for a snapchat filter for 5 hours, having that filter used on 176 pictures, which in turn get seen a total of 229,713 times collectively, results in a $0.27 CPM.
Try to find another platform with such a low CPM. We’ll wait.
So don’t get left behind. It won’t be long before people realise how underpriced this is, and as competition for ad space increases, so will the prices. Do yourself and your brand a favour and get yourself advertising on Snapchat!