Discovering Snapchat's opportunities
While its potential has yet to be fully utilised by the egaming sector, Snapchat is predicted to be one of the most lucrative digital advertising channels in the coming years, as marketers look to tap into an app which sees its user base send more than 700 million photos and videos a day. And this ï¬gure is growing at a rapid rate.
The photo messaging service has been tweaking its advertising model in recent months and in April it discontinued its original Brand Stories format with no official word yet as to whether the service would be making a comeback in an upgraded version. However, rumours circulated in the media that the ï¬rm was looking to ï¬ne-tune the oï¬ering as it continues its transition into a major media company and advertising channel.
The ad platform, which debuted last October with a Universal Studios trailer for the ï¬lm Ouija, enabled brands and marketers to advertise content to users that werenât following them. The biggest evolution in Snapchatâs advertising capabilities this year came with the launch of Discover, its premium content channel that enables media companies including Yahoo!, Sky News and MTV to post stories and videos
directly to users on a separate content page.
Online gambling ï¬rms are not new to Snapchat. Betfair signed up with the app in February 2014 to provide time-sensitive price boosts and special offers to customers. However, with rumours that publishers are paying $50,000 to $100,000 a day to advertise on Snapchatâs Discover feature, this particular marketing service is one few companies could afford to utilise on a long-term basis if the facility is expanded in the future.
But one thing is certain. Snapchat is no longer the non-revenue generating ï¬rm it was back in 2012 and it is maturing into a serious advertising platform that few can now afford to ignore.