It was a great year for Snapchat up to now, finally evolving from a fun teen app to a serious platform, addressing a larger audience, along with brands and advertisers.
The fact that it can compete with Facebook in several key areas (video views, engagement, demographics) is flattering on its own, but the problem up to now was its monetisation.
Snapchat is focusing on advertising to become more appealing to brands and offer another interesting solution for their social strategy. It’s the unique presentation of content, the engaged audience, the fact that everyone can become a publisher that makes the platform popular, while the content consumption is steadily increasing.
According to eMarketer, its ad revenue is expected to reach $1 billion in 2017, while the projections for 2018 seem even more promising, with an expected revenue of $1.76 billion. The growth will reach 155.1% from 2016 to 2017 and it reflects the sudden rise of Snapchat year-by-year.
These stats may help a business consider joining Snapchat, especially as it seeks for new opportunities to be appealing for brands, with vertical video and the impressive completion rate in its ads being its big advantage.
In case you’re wondering how your brand can benefit from Snapchat, or if you feel that your industry does not have the right content to be relevant in the specific platform, you might want to check its Discover section, or its success stories, and you may be surprised with the diversity of content and all the creative possibilities the platform is offering.
After all, if your competitors in the industry are not using it yet, it may be a great way to stand out and reach your audience first.