Three years ago, Snapchat founder Evan Spigiel turned down a $3 billion acquisition deal with Facebook and his rejection letter to Zuckerberg ignited the internet.
Snapchat’s most recent valuation is now sitting at $16 billion, with more than 100 million daily users online for an average of thirty minutes each day. Even more astounding is Snapchat’s popularity with Millennials, having surpassed Instagram as the most popular network amongst US teens.
What is it that Zuckerberg saw in the app? When marketing pros spend their time so diligently crafting branded content, it seems counterproductive to invest in “ghostly” exposure that disappears in a few heartbeats.
Why should companies get on board the Snapchat bandwagon?
Here are three reasons:
1. It’s organic
Finely curated and polished content is respected and in demand on platforms such as Instagram. But the audio-visual nature of Snapchat calls for spontaneity or, at the very least, a sense of authenticity; Snapchat content isn’t about perfection. It’s about a sense of intimacy and trust due to it’s personality and rawness.
Spending less time perfecting content also better enables you to maintain relevance in a fast-moving media landscape. Being up to date and ‘of the moment’ can have a significant impact on audiences.
2. Effective modern storytelling
Snapchat provides a method of communicating your brand narrative as a modern, multimedia story; a way to embody a brand persona and share your brand’s story. Marketers are able to entice users with a compelling story as an opportunity to engage, inspire and connect with audiences.
In this environment, brand awareness and engagement proves far more successful than blatant advertising. The voyeuristic nature of the platform can showcase your company’s culture and add a sense of familiarity that breaks down barriers that advertising simply can’t.
Snapchat has also seen this opportunity and enhanced it with powerful features such as geo-filters. which allow any user within certain vicinity to use a template of your advertising to personalise and share.
Further to this, your content always self-destructs on Snapchat. As such, it essentially forces people to give their undivided attention to what they are watching: you.
3. Millennials connect with meaning
Snapchat has a 60% millennial base; it’s a sure way to target younger consumers. This audience is unique in that they strive to give back to society. An Intelligence Group study found that 40% of millennials would be willing to pay more for a product from an ethically conscious brand. In striving to build shared value for a better society, no demographic is more open and willing to embrace companies with a social purpose. Embracing Snapchat empowers you to appeal to this market in an organic and engaging way, especially if you know you can make a positive change.
Talk to us about brand storytelling across digital platforms.
This post was written by Jasmine, who is currently doing an internship with Ellis Jones.