Ads on social media platforms have become an important part of B2C marketing strategy. Though the largest, most established platforms, like Facebook and Instagram, remain an important cog, there’s an awful lot to like about making Snap ads a bigger part of your ad strategy. With continual audience growth, diverse demographics, and more dynamic options for getting your message across, Snap ads are beginning to deliver really strong returns on ad spend (ROAS). Here are just some of the reasons Round Barn Labs is recommending that you make Snapchat a bigger part of your ad strategy.
1. Demographics becoming more favorable: A common knock on Snapchat as an advertising platform is that its user base is younger than most advertiser target audiences. But more recent data shows that 48% of U.S. internet users who use Snapchat as of 3rd quarter 2020 are ages 26-45 – right in that sweet spot for a lot of consumer products. We see it as a big opportunity going forward for lots of clients on the product side. Source
2. More bang for the buck: Snapchat serves up impressions and swipe-ups (clicks) on par with Facebook and Instagram, but at lower cost. Snapchat’s ad creation tools enable advertisers to deliver their message in a way that looks more native to the platform. Relatively speaking, fewer advertisers have Snapchat in their social media ad mix, so there’s less competition, keeping prices low. The data also shows that Snapchat users are more engaged than counterparts on other platforms.
3. Strength in diversity: Diversification takes some pressure off of Facebook and Google ad performance. It also can help alleviate the negative impact of the iOS14 update. There are some pretty obvious demographic differences between these platforms, so diversifying helps you reach a broader audience, and better tailor your message to them and the way they take in information. Not to mention, social media has been seeing a surge in traffic during the pandemic, and there’s evidence to suggest that these habits may continue well beyond when COVID restrictions are lifted.
4. Comprehensive data reporting: Snapchat arms advertisers with robust real-time reporting on demographics, geo data and conversion reporting. Its tools allow advertisers to create a customized view of performance metrics, download and share reports with collaborators, and use Ads Manager to fine-tune their approach. Snapchat also enables users to sharpen ad strategy with delivery and engagement metrics like impressions, swipe-ups and installs, and the ability to track website conversions with the Snap Pixel. And Audience Insights helps advertisers grow their reach through a more in-depth knowledge of their target audience and the ability to target at a segmented level.
5. Partner up to get even more insights: Snapchat has been growing its Mobile Measurement Program (MMP) by lining up partners that advertisers can turn to for greater flexibility and more precise data on app installs, app visits, and in-app events. Brands can get a better return on investment by optimizing install campaigns through Snap Ads, Lenses, and Story Ads.
6. Ever-expanding ad creation tools: New ad units and frequently introduced beta features mean continuous opportunities to improve results. Snapchat offers ad formats tailored for specific objectives like awareness, consideration, and conversion. Advertisers can currently make use of simple and versatile Single Image/Video Ads; Collection Ads that allows users to tap through a series of products; personalized and targeted Dynamic Product Ads; Story Ads that sit alongside popular content in the Discover section; and dynamic options like Augmented Reality (AR) Ads, Commercial Ads and Filter Ads. The platform has also introduced tools to make ad creation easier and quicker. But keep in mind that some features are currently only open to select advertisers or in certain geographic areas, and some have minimum buy-ins.
Snap Ad Tips:
- The platform, with its wide array of ad formats, pairs well with dynamic consumer products like electronics, clothes, cookware.
- B2B advertisers can generate awareness at the top of the funnel, while B2C brands can get results at all areas of the funnel.
- To succeed on Snapchat, make sure your messaging is clear and concise. Use the available data to understand your audience and deliver authentic, effective creative
Experts expect Snapchat user growth to continue to soar. We think this will be especially true if the platform continues to become more third-party content-friendly and continues their experimentation in augmented reality. Get on board today to realize the benefits of this growth at a budget-friendly rate. To learn more about how Snap ads can strengthen your social media ad strategy, contact RBL now.