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Advertising Opportunity for Companies Targeting Millennials

Advertising Opportunity for Companies Targeting Millennials 

            What originally started as a friend to friend means of sending instant photos/videos has become an increasingly popular social media platform for businesses trying to reach their consumers. Companies who target the millennial audience must keep up with the technological changes, like mobile apps such as Snapchat, if they want to stay competitive. Marketers must be willing to change their advertising techniques to adapt to a world where target markets want their goods immediately and at the ease of their fingertips.
            Snapchat has recognized the incredible opportunity of reaching this seemingly impossible target market and has changed their platform to increase the ease at which marketers can advertise to these consumers. I recently discovered Social Media Today and have invested some time learning about Snapchat’s advertising abilities and how they have changed since discovering the advertising opportunity. The following three article summaries show the progress the company has made in developing an advertising plan:

May 2017: “Snapchat Launches Self-Serve Ad Platform”

This article provides information on Snapchat’s May 2017 proposals for the new elements they were working on to increase general usership and make advertising easier for companies.

Proposed New Elements:
1.     Ads Manager: allows you to buy, manage and track your Snapchat ads
2.     Mobile Dashboard: enables businesses to track results on the go
3.     Business Manager: gives control to manage Snapchat ad process
4.     Snap TV: brings shorter, complimentary versions of shows to hook viewers
5.     Spectacles Version 2.0: sense an augmented reality


This image shows the evolution of Snapchat as a company; in order to stay competitive, it is working on innovating itself as more of a B2C platform.

(http://www.socialmediatoday.com/social-networks/snapchat-launching-self-serve-ad-platform-new-tv-content-and-maybe-spectacles-20)

June 2017: “Snapchat Opens Self-Serve Ad Platform, Provides New Ad Creation Tools and Options” 

This article introduces the new self-serve ad platform released in June 2017. It mentions that Snapchat has historically been considered a difficult platform to advertise on; the new updates and opportunities for advertising training will hopefully increase the number of companies advertising on the platform.

The Low-Down: Snap Inc. launches the self-serve ads platform
1.     Ability to create and purchase Snapchat ads
2.     Lower barrier for entry for Geofilters
3.     “Certified Partners’ program:” provides training to advertisers


In effort to become this B2C marketer, companies can make their own ads for Snapchat using this self-serve ad feature.

(http://www.socialmediatoday.com/social-networks/snapchat-opens-self-serve-ad-platform-provides-new-ad-creation-tools-and-options)

August 2017: “How to Use Snapchat to Promote Your Brand and Drive ROI [Infographic]” 

This article includes information on how businesses can get the most out of snapchat thru 8 simple steps to increase brand awareness and, ultimately, ROI.

The Basic Infographics:
1.     Purpose of Mobile App: send instant photos/videos
2.     Snapchat Audience: ages 13-25
3.     Brand Promotion: share content and increase brand awareness thru 8 steps

                                 

This image shows the rising number of images sent daily and the potential Snapchat has to reach their targeted younger users through this mobile application.

(http://www.socialmediatoday.com/social-business/how-use-snapchat-promote-your-brand-and-drive-roi-infographic)


            After working through these three articles, I have a better understanding of the potential Snapchat offers for marketers. This platform can reach the millennial audience and offers a new way to promote brand awareness. I highly recommend the Snapchat advertising features to companies whose target market includes a younger audience.

Comments

  1. UnknownAugust 27, 2017 at 7:22 PM

    This is something I've noticed in the past few months while using Snapchat. I can't say that I necessarily remember what companies or products I've seen ads for as I typically can just quickly click through the ad, but i'm wondering if this will become more popular as companies realize millennials will continue to use Snapchat unless a new competitor enters the market. This is something really interesting to keep an eye on in the coming months!

    ReplyDelete
  2. UnknownAugust 27, 2017 at 8:41 PM

    First off, Allie great post! I thought it was super interesting to hear about what the future of Snapchat holds and what marketers are trying to do to broaden their methods of reaching their target audience. As an avid snapchatter myself, I definitely do recognize the ads. But on the other hand, I find myself skipping them, not paying attention to them or being annoyed they are there. Maybe Snapchat can find another way to allow ads so marketers can reach that audience without annoying the Snapchatters. If they used incentives or other ways to "force" people to actually watch these ads, this would be a win win for both Snapchatters and businesses using it as a marketing tool.

    ReplyDelete
  3. UnknownAugust 28, 2017 at 10:46 AM

    Wow, Allie! As an avid snapchat user I must say that I honestly have not paid nearly enough attention to the growing advertising that is going on via Snapchat. I agree with Helen that in order for brand awareness of these ads to grow, Snapchat needs to look for other ways to market and show the ads in a way that consumers are made to see them. Many people are probably similar to me and Helen in that they do not take the time to even look at the ads rather we just click right through them. I think you did a great job on your blog and that this idea could lead to other blog posts for you. Maybe in a future blog you could explore ways to make the ads catch peoples attention in a more effective way.

    ReplyDelete
  4. UnknownAugust 28, 2017 at 12:08 PM

    I recently did research on how to sponsor through Snapchat. There are all kinds of new and crazy ways that companies are targeting people through the popular social media site. The amount of people that these reach is crazy though. People are so engaged with the new sponsored geofilters and lenses that it is a relatively cheap way for companies to advertise. I think its especially important with this increase in advertising to come up with interesting content.

    ReplyDelete
    Replies
    1. UnknownAugust 28, 2017 at 12:09 PM

      This was done by Mary Claire Jones

      Delete
    2. UnknownAugust 29, 2017 at 4:43 AM

      Hi Allie!
      I am so impressed by the research you have done and the topic you presented. I use Snapchat everyday and never really consider all of the ways businesses take advantage of it as a platform to connect to members of our generation. One example I can think of that may not come to mind is in Real Estate. My mom is a Real Estate Agent in Connecticut and recently used Snapchat as a way to create "buzz" over one of the properties she has listed. Though she realized that she may not be contacted or directly connect with millennials looking to by a multi-million dollar home, she used the Wall Street Journal channel on Snapchat and had the home listed under "Mansions of the Week". Her intent in doing so was to create buzz around the beautiful images and spectacular features of this beautiful home. What I also did not know was that in order to post these photos the Real Estate Agents and Brokers typically reach out to publications and even pay a fee to be featured. It is interesting to pick up on all of the ways that business utilize social media platforms simply to create "buzz" around their product or name.
      Thanks for sharing Allie!

      Delete

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