Snapchat started trading on the New York Stock Exchange on March 2nd, 2017, offering 200 million shares at $17 each. By 12:00pm ET, their price had risen to $25.38 per share.
That all sounds really great for Snapchat, but it doesn’t really help you at all. So, instead of continuing to bore you with financial data and investment information, I’m going to share with you some ways to get the most out of Snapchat by incorporating it into your marketing strategy. If you haven’t already, that is.
With a 72% adoption rate, Snapchat is the most-used social media platform among 18 to 24-years-olds. This group makes up 37% of users, which is the most sought-after Snapchat demographic for many marketers. In just three years it has grown from 5 million to 158 million users and keeps growing. Chances are, some of your target market is in that crowd waiting for you.
So is Snapchat right for B2B?
Some might say that B2B marketing generally targets an older generation in which case Snapchat might not be the best option. While this can be true for some, the 2016 BNP Paribas Global Entrepreneur Report found that 20-35 year-old’s are starting more companies, managing bigger staffs, and targeting higher profits than their baby boomer predecessors (which B2B marketers typically target). This means that 14% of US companies were created by entrepreneurs who are under the age of 35. With 26% of Snapchat users between the ages of 25-35, it’s a market you might want to consider tapping into.
That was a lot of numbers.
Here’s a funfact to relax your brain: When Snapchat was first launched in July 2011 it was called Pictaboo, which is where the ghost logo comes from.
Here are some ways to up your Snapchat game or how Snapchat could be good for your marketing strategy.
1. Provide an inside look / behind the scenes
More and more people are looking beyond the logos and ads and looking for the authenticity of a brand. They want to trust a brand before interacting with it and supporting it. A Mintel study found that half of American shoppers say they trust small businesses but only 36% say they trust large businesses. If you’re a small business then this is great, but if you are part of a large business then this means you might have to work a little harder to earn the trust of viewers. By providing a high degree of transparency and staying honest you can earn or continue to maintain that trust.
A great way to do this with Snapchat is to go behind the scenes and provide an inside look at what customers don’t usually get to see, such as; the annual holiday party and team meetings or events. This will help customers develop a connection with the brand and help you build a solid foundation of trust by reminding them that there are real people behind all of those blog posts, advertisements, and sales calls.
2. Partner with influencers
Sometimes it can be tricky to build a following right out of the gate or if you’re trying to reach a demographic that’s hard to reach through traditional media. By partnering with an influencer who already has a following, you can let them spread your message to their own followers who might be interested in your product/service.
Another fun tactic that gets a lot of attention is to let your influencer do a Snapchat “Takeover”. By allowing your influencer to takeover your feed for a period of time (usually while using your product), the influencer’s followers are encouraged to head over to your Snapchat to see what’s going on, resulting in increased awareness and potentially more followers for your own account.
Takeovers offer an authentic, raw, unfiltered account of the influencer’s experience. By seeing one of our own on behalf of another brand, it provides the notion that they are more than just a boring corporation and end up feeling closer to the brand.
3. Offer Exclusive Content
A great way to increase your Snapchat following, especially when you have already established a following on other social media channels, is to offer exclusive content that can be viewed only on Snapchat. You can accomplish this by inviting your followers from other social media accounts to follow you on Snapchat to see exclusive content they otherwise wouldn’t get to see.
Examples of this are product launches, exclusive deals, company announcements etc. The most popular example of this is when fast-food giant Taco Bell announced the reintroduction of an item to its menu to their Snapchat followers. This will spark intrigue in your followers and they will follow your account to stay tuned to what you have to Snap next.
4. Provide entertainment value
76% of users say they would share a branded video with their friends if it was entertaining, and 57% in the U.S. believe social networking sites are a form of entertainment. By providing content on Snapchat that is entertaining to your viewers you maintain their engagement and encourage them to tell others about it.
Here’s a great list from SalesForce of some great examples of how companies used Snapchat to provide great entertainment value to their customers.
Social media has become a must-have for any marketing strategy and it looks like Snapchat is here to stay. What was once known for sending inappropriate photos, has now proven to be a fun and useful tool for marketers. It is possible for B2B marketers to join in on the Snapchat revolution; it just requires a little creativity and courage to venture into something new and unfamiliar. When used strategically, it can be effective in interacting with followers and help support your social media and marketing campaigns.
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