CFO World

Is Snapchat the new ‘sweet spot’ for brands?

New report finds businesses turning to Snapchat as an alternative to social media site

Businesses are increasingly using Snapchat as an alternative to other social media sites in a bid to reach target audiences and communicate in a direct form with followers, without getting too personal, according to a new survey by Snaplytics.

The SaaS-based market insights company recently surveyed 500 brands (with 24,180 Snapchat stories) and studied 217,000 snaps to better understand how brands and influencers are using the social site to communicate with their followers.

The Snaplytics report, which claims to be the most comprehensive survey of Snapchat data to date, found organisations are learning how to use Snapchat to reach target audiences in a way that is more “at eye level” and supplies details on the most effective ways to leverage the platform.

Marketers are seeing a big uptick in audience reach/engagement, with Snapchat compared to a decline with other social sites, according to the report. It noted Snapchat offers a unique experience and more ‘in-the-moment experiences’ for a brand's fans.

“Snapchat is unique because it allows businesses to connect with people in the moment and offer a different brand experience,” says Snaplytics founder and CEO, Thomas Cilius, explaining the Snapchat was once originally thought of as a social network mostly geared toward teenagers.

“It’s the only social network where marketers aren’t seeing a decline in reach. With 161 million daily active users on Snapchat, brands are quickly learning this is the go-to outlet because it allows them to engage their brand ambassadors and deliver content that really resonates with people, in real-time.”

The study also offers tips and best practices for brands interested in incorporating Snapchat into their marketing toolbox. Citing the data collected from the 500 brands, it reveals: 61 per cent of the content posted by brands on Snapchat are videos, which is a 5 per cent increase from the first quarter of 2016.

The study also reveals the number of snaps in a story averages around 11 snaps per update.

“Consistency and ongoing activity is key. Brands post, on average, content two times a week,” the report noted. “Completion rate, or the number of people viewing the whole story, climbed to 88 per cent compared to 84 per cent the previous quarter.”

The report also provides insights, metrics and analysis regarding what brands must consider as they develop their Snapchat marketing strategy. It discusses the best approaches to growing a follower base (followers find brands by Username 64 per cent of the time); and what is the most effective rate of posting to keep your followers excited and engaged and what days are the best for posting and why.

“It is essential for marketers to be creative and build followers quickly since our research shows that recommendations and calls-to-action made through Snapchat are much stronger than what is accomplished with Facebook or Instagram,” Cilius says.

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