Snapchat, the social app that is looking at a $10 billion valuation with no ad unit yet, has embarked on an ad-seeking journey, meeting brands and agencies to give it a how-to on its platform in an effort to get more companies on board. Despite concerns about the app’s maturity and readiness for full-time brand investment, Snapchat offers staggering user data and embryonic engagement metrics that might be enough to make the service worth investing time in.
Snapchat has always been cautious about brands using the platform; however, the social app has decided to dip its fingers into paid advertising in hopes to make some real money.
Early on, a majority of Snapchat’s focus was spent on building a following — an effort that wasn’t put to waste. The platform was host to more than 30 million users who, according to a pitch deck acquired by Digiday, send 700 million photos and videos a day. The average user checks his or her account 14 times per day, and according to the company, 50 percent of those users are aged 13-17, which is important info for brands looking to connect with Gen Z.
Image Courtesy Of Digiday
It’s the disposability of “snaps” that make Snapchat so unique and forces users to keep an eye out for content. “Every piece of content [users] view is triggered by pressing and holding the screen, meaning people have to consciously engage with content while using Snapchat,” reads the deck. “When people share, recipients pay attention, knowing content can’t be viewed a few days later.” It’s a new way to force attention that replicates real human interaction, “just like in-person conversations.” Snapchat recommends brands promoting new Snapchat accounts should have a story waiting for curious new followers, which can be a little intimidating considering stories are viewed more than 1 billion times per day, according to the deck.
Sanpchat has also developed some interesting metrics for itself. The first is a Snap’s “score,” which shows the number of people who have viewed a “story,” or snaps strung together “in a flipbook of moments” that last just 24 hours. Stories differ from conversations because users can’t respond to them. When put together, the snaps that make up a story can be used to reveal something, like a promo code. The app then enables brands to go even further by allowing them to see how many people have taken a screenshot of a particular snap.
Source: Digiday
