Not only has Snapchat’s stock taken some billion dollar hits recently (lookin’ at you Rihanna and Kylie), the multimedia messaging app has also lost popularity among its’ users due to the most recent software update which altered the layout and user-friendly appeal of the app.
What does this mean for your company? Should you even bother with Snapchat? Well, despite their dissatisfaction, there are still 300 million+ active monthly users on the app, so it’s clear there are still potential audiences to reach.
The real question here is how can your business leverage the platform to increase brand awareness for your company? Similar to most large social media platforms, if you want to get in front of people, you’re going to have to pay to play. If your audience skews younger, it could be worthwhile to test advertising on Snapchat. The app recently released new features to enhance their location targeting. Specifically, you can now target an audience based on location type, such as a beach, or a mall. Snapchat has announced this as a win-win scenario because it helps brand target “high-intent Snapchatters” while users will be receiving ads when they are most likely to need them.
The second update, radius targeting, might sound familiar to you if you have any prior experience with Facebook or Instagram ads. You can now use radius targeting to create a customized radius based on an address, city, pin, or point of interest like a sports stadium or university. Both of these ad options are available now via a new location search bar in Ads Manager.
So whether or not you decide to take the plunge with Snap Ads, it is obvious that they are trying to stay competitive with these updates. There’s also word that they are testing a Foot Traffic Insights tool aimed to help advertisers with brick-and-mortar locations more easily track in-store foot traffic, which could provide meaningful ROI for a multitude of companies. Be sure to check back on the blog for more Snapchat and other relevant social media updates.
Story by: Devyn Lamon