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In case you haven’t noticed, Snapchat is all the rage these days. And advertisers are taking note, with many flocking to the platform in an attempt to reach its young, hyper-engaged user base.
But what makes marketing on Snapchat so attractive to brands? And what can businesses do to make the most of the platform?
Here’s a look at some of the key reasons why this platform is so popular with advertisers.
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Why Advertisers Are Flocking to Snapchat: 6 Reasons
1. The Demographics
Snapchat has a very young user base, with 70% of users being between the ages of 18 and 24. This is a highly sought-after demographic for many brands, as young people are often early adopters of new products and trends.
Additionally, Snapchat’s users are incredibly engaged with the platform. In fact, Snapchatters spend an average of 25 to 30 minutes on the app each day. This gives advertisers a great opportunity to reach their target audience with relevant and impactful messages.
Finally, the platform is growing very quickly, with active users increasing by 20% each quarter. This rapid growth means that more and more brands are taking notice of the platform and looking for ways to reach its users.
2. Snapchat’s Unique Features
Snapchat offers advertisers a highly engaged user base. According to recent estimates, over 70% of Snapchat’s users check the app daily. Nearly 60% of them are open to receiving branded content. That’s a pretty enticing proposition for any advertiser looking to reach a large and engaged audience.
But what really sets this platform apart from other social media platforms is its unique features. Stories, for example, offer advertisers a way to reach Snapchatters with short, attention-grabbing snippets of content. And with Lenses, advertisers can create interactive and fun experiences that users are likely to share with their friends.
3. The Fun Ad Formats
Advertisers are flocking to Snapchat because of its fun ad formats. The format is perfect for short attention spans. It allows advertisers to get their message across in an impactful, and inventive way.
Plus, Snapchat offers a unique level of targeting that allows advertisers to reach their target audience with laser precision. And with more and more people using this platform every day, the potential reach is huge. All of these factors make Snapchat an incredibly attractive proposition for advertisers. It’s no wonder that so many are jumping on board.
4. Efficiency Across Upper and Lower Funnel Tactics
Advertisers are flocking to Snapchat because it is one of the most efficient platforms for reaching their target audiences. Snapchat reaches more 18-34 year-olds than any other platform. Moreover, its users are highly engaged with the app. On average, Snapchatters spend 30 minutes per day on the app. This provides advertisers with ample opportunity to reach their target audiences.
Additionally, Snapchat offers a variety of ad formats that allow advertisers to effectively reach users at different stages of the marketing funnel. For example, Snap Ads can be used to raise awareness about a product or service. Meanwhile, advertisers can use Story Ads to drive consideration and purchase intent.
Ultimately, Snapchat is an incredibly effective platform for advertisers because it offers efficient reach and a variety of ad formats. Advertisers can use these benefits to achieve different marketing objectives.
5. A Growing Platform
With over 100 million daily active users and a growing user base, it’s no wonder that advertisers are flocking to Snapchat. The social media platform offers a unique way to reach users, with its ephemeral content and engaging filters. What’s more, Snapchat is incredibly popular with millennials and Gen Z. The people in these age groups are notoriously difficult to reach through traditional advertising channels.
As a result, Snapchat provides advertisers with a valuable opportunity to connect with young people in a way that is authentic and relevant.
6. Using Your Story Strategy on Snapchat
Advertisers are flocking to Snapchat because it is a unique platform that allows users to share stories. Its high level of engagement creates opportunities for advertisers to reach a wide audience. In addition, Snapchat offers features that allow advertisers to target specific demographics. For example, brands can target users based on their location, age, and interests.
Finally, Snapchat’s ad format is well-suited to mobile devices. This is increasingly where users are consuming content. For all these reasons, advertisers are flocking to Snapchat as a way to reach their target audiences because this is where they spend most of their time.
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What Are the Risks of Advertising With Snapchat?
While Snapchat offers some unique advantages for advertisers, there are also a number of risks to consider. One of the biggest concerns is that Snapchat’s primary demographic is young people, who are often not highly engaged with brands and advertising.
This means that Snapchat ads may have less impact than ads on other platforms. Additionally, Snapchat’s ad format is still relatively new, and there is limited data available on its effectiveness. As a result, advertisers may not be able to accurately measure the return on their investment for their Snapchat campaigns.
Finally, Snapchat’s ephemeral nature (and the basic Snapchat ad specifications) means that ads disappear after viewers seen them, which could limit their reach and effectiveness.
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Originally published on Business Opportunities : Original article