Snapchat has lowered its advertising costs and how to buy ads on its platform, now is the time to give it a try. Many clients avoid Snapchat because two years ago they were charging upwards of $300,000 as the cost of entry to advertise. Now the cost is purchased through programmatic platforms making it easier to understand. Digital ads are on the rise, we need to keep up.
Snapchat’s costs are competitive. Its cost per thousand impressions is $2.95 compared with Instagram’s cost per thousand impressions at $4.20 and Facebook at $5.12. The reason for this is that Facebook has 6 million advertisers competing to run, whereas Snapchat, who won’t reveal their customer base, surely does not have that many.
Snapchat’s still targeting a very young audience most of which is under 30 years old, so if your product or service does not serve the Gen Z market, this may not be for you.
The good news is that they now offer direct-response ads with a way to target ads to consumers most likely interested in certain brands based on online habits outside Snapchat. It is rolling out a new Shoppable Snap ad that displays products and links directly to a checkout page.
They are about to allow for Sponsored Lenses through the self-serve platform. Snapchat offers click-throughs or swipe throughs to the advertising brand’s website. Snapchat is also allowing for In-Feed Story ads which are similar to other platforms.