Photo Courtesy of AdamPrzezdziek via Flickr – License
Social media has become a booming business, with companies like Facebook and Twitter being valued into the billions, yes billions, of dollars. The sheer scope of users available to target have made these platforms a can’t-miss opportunity for marketing and branding. So it should come as no surprise that yet another new social platform is starting to attract the attention of marketers everywhere: Snapchat. According to Comscore, the millennial-focused platform boasts a 32.9 percent penetration rate for the age group 18-34, and a 50 percent rate for the age group 18-24. These numbers alone make it an undisputed gold mine for tapping into the millennial market, but it’s Snapchat’s ability to engage users in a real time format that gives it true potential.
Snaps, the platform’s name for images and video clips that are exchanged through the app, give users brief and ever changing glimpses into each other’s lives. Large companies have begun to take advantage of this, creating their own snaps to come across as tech savvy, relating themselves to their customers and building trust and loyalty along the way.
Sneak Peeks
Consumers, millennials especially, are always looking for the latest and greatest information about their favorite products and services, and big brands have taken notice. Using Snapchat, organizations like the National Basketball Association and Acura have begun giving consumers early information and a behind-the-scenes look into their favorite brands.
The NBA has made a habit of uploading snaps that give inside looks of major events like the NBA Finals or NBA Draft. Players are shown arriving at the arena, announcers do behind-the-scenes interviews, and exclusive clips with star players get sent out. The car manufacturer, Acura, has taken a similar approach. The automotive company made its first foray into Snapchat by sending its first 100 followers teaser footage of the NSX automotive prototype. Not only did this move foster customer loyalty by creating a race to follow its new account, but like the NBA, they gave fans tidbits of exclusive information to keep them coming back for more.
Normalizing the Company
Part of building trust with your audience is relating to them on a personal level. The clothing line, Everlane, uses their Snapchat to champion brand transparency, sending snap tours of both their factories and stores and conducting on the spot interviews of shoppers. The result is a brand that comes off as trustworthy, letting consumers into every last aspect of their business.
Most of the companies we’ve mentioned so far are associated with the younger generations, but contrary to their popular image, General Electric is actually one of the big brands that has been better at utilizing Snapchat to build trust among their consumers. The home appliance company famous for mundane washers and dryers takes scientific questions submitted to their Snapchat and responds to them with a funny, oftentimes geeky, answer. For a company that is usually ignored until it’s time to buy a home, it’s a great way to build loyalty and trust with millennials in the years before they are ready to purchase GE products.
Free Stuff
Everyone loves free stuff, especially if it’s free food. So, not surprisingly, the undisputed king of Snapchat marketing is GrubHub. The food ordering service has taken loyalty building to the next level, offering discount codes for food orders through its snap stories. The genius behind their snap marketing is its diversity in engaging consumers. Rarely are free grub codes snapped without a catch. Sometimes you have to continue checking back until the code drops, sometimes you have to tweet something back at the company. Grubhub even went as far as holding a scavenger hunt, which consisted of “snap challenges” that once completed, entered users into a pool to win free food. Not only is this brand building loyalty, but the level of engagement is so high that users actually find entertainment and discounts.
If there was ever any doubt that Snapchat is a viable marketing solution for small business, the money poured forth by the most successful large-scale brands should alleviate any concerns. Multimillion dollar companies are seeing real increases in brand equity as a result of sharing a few ten second video clips. The ability to instantaneously reach the notoriously fickle millennial market puts Snapchat in a unique position when compared to other social media platforms. Small businesses should seriously consider creating their own account. To begin growing your following, simply share your username or snapcode. Millions of followers is a good long term goal, but tapping the local market is an even better way to start.
If you’re interested in learning more about what Snapchat can do for your business, contact us today. Our experts stay ahead of the ever changing field of social media to ensure the best results possible.