Does ROI Exist Within Snapchat?
SnapChat…The final frontier…
Over the last two years the rise of Snapchat has become astronomical. With over a million average users a day, 71% of which are under 34 years-old, determining a way to market through Snapchat and producing a return on investment seems to be something many organizations are wishing to quantify.
The brilliance of Snapchat however, is that there is no way to do this. The app provides no analytics or insights tools. There are also no outside platforms offering a way to track the disappearing images and video clips. Organizations can manually devise ways to track this by snapping exclusive offer codes to their friends and tracking their usage or simply counting how many users opened their snap, but when the amount of friends could be in the thousands, this could take hours alone.
Now that we have discussed what Snapchat doesn’t offer to marketers, let’s discuss what it does. A way to provide an audience with exclusive content. The greatest way to spur engagement is through inclusion. Every individual identifies with groups, characteristics and audiences. By including them in yours, they gain a stake. By sharing with them, they feel valued and included, and this could help change your bottomline, fan by fan.
Despite the fact that Snapchat might not provide a direct means to quantify ROI, this does not mean that it doesn’t contribute to another platform’s ROI. Amplifying the bond a fan feels with a brand or organization by providing them with exclusive content might make them resonate more with photos shared on Instagram, Tweets or Facebook posts. And here is where the true ROI can be found.
Instead of trying to convert snaps to dollars, marketers, brands and organizations should just ride the trend and figure out how they can fit content, which will be popular within their audience, into a few seconds of video clip.