WE TAKE AN IN-DEPTH LOOK AT THE SOCIAL MEDIA PLATFORM AND ITS POTENTIAL FOR INTERIOR DESIGNERS & MANUFACTURERS:
In this day and age, if you’re not on social media you don’t really exist – or at least your brand doesn’t. Every year, marketers devise comprehensive strategies dedicated exclusively to social media, and more and more interiors designers and manufacturers are adjusting themselves accordingly.
With so many platforms to choose from, it’s often hard to figure out which one’s the right one for interior brands as they reach out to a distinctive type of audience, a specific demographic with a particular set of interests and spending power. And the arrival of Snapchat hasn’t made it any easier either.
Launched in September 2011, Snapchat has quickly become a point of attraction for the younger generation – millennials and GenXers in particular. Snap Inc, the parent company of Snapchat, holds the largest IPO since 2014, with a market evaluation at $24 billion.
Let’s look at the numbers, just to get an idea: there are approximately 158 million daily users on Snapchat; there are 2.5 billion snaps sent out every day, on average; users check the app an average of 18 times per day. No wonder marketers consider the platform as part of their social media strategy!
However, Snapchat really isn’t for anyone or just any brand. Its content is short-lived and your design brand’s audience is most likely not on it – at least not on a level where you can influence their purchase habit.
So, let’s go through the motions and answer some elementary questions about Snapchat. It might help shed some light on whether you need it or not.
What are the costs of advertising on Snapchat?
As expected, pricing will vary based on the size and outreach of each advertising campaign. Traditional Snapchat ads work on a CPM (cost-per-impression) basis and can roll out a budget of at least $40,000. Yes, you read that right.
There are also special ad units, like sponsored geofilters, that work on a CPS (cost-per-swipe) basis, and are equally pricey. Let’s just say Snapchat isn’t kind to smaller businesses that want to appeal to a wider audience.
If you’re looking to spend less money (no surprise there, considering Snapchat’s minimum spend!), you can go for localised geofilters, focusing on smaller locations to begin with. Those can cost as little as $5.
How does Snapchat compare to advertising on Facebook and Instagram?
As expected, it’s a lot more expensive to advertise on Snapchat, as opposed to Facebook – the largest social network, and Instagram – the most popular image-sharing platform. To add a little perspective to this, it costs more to advertise on Instagram than on Facebook, both of which operate on a cost-per-click basis with minimum budgets ranging between $1 and $5 per day.
Most of Snapchat’s ads function on a cost-per-impression model and disappear after several seconds – very much aligned with the platform’s ephemeral content. It’s obvious to discern who the winner is here, when looking at the longevity of the ads (hint: not Snapchat).
What kind of brands advertise on Snapchat?
Most of the advertisers on Snapchat fall within the B2C segment, along with consumer goods providers. Newspapers and online media outlets are also quite active – Mashable uses the Discovery function, for example.
A lot of “Superbowl brands” have had great success with the platform – Domino’s, Gatorade and Under Armour, for example; but be advised, these are huge brands with generous advertising budgets allocated for each social media platform, reaching out to a very wide consumer audience.
Who hangs out on Snapchat, then?
The audience is young – very young. 71% of Snapchat’s regular users are aged under 34. Approximately 30% of US users on Snapchat are millennials. So, if your designs appeal to younger – much younger – audience, you could give this platform a try.
Otherwise, you’re better off focusing your advertising budget on other social media networks, such as Facebook, Twitter, Pinterest and Instagram – or even LinkedIn, if your furniture or lighting manufacturing brand appeals to a B2B segment.
What about “sponsored lenses” and “geofilters”?
Sponsored lenses are active for just 24 hours and allow users to interact with the advert while taking a snap – like the Michael Kors campaign for National Sunglasses Day, for example. This venture is best used for national campaigns and it’s been known to cost brands from $300k to $750k for a single day. Again, yes, you read that right.
Geofilters are location-based filters that users can add to their snaps, and are a good way to make an impression. They can include brand name and promotional materials, but come with a “sponsored” stamp.
There are four types of campaigns that can be rolled out on Snapchat – events, shared spaces, chains and national campaigns, each targeting a specific type of location or environment.
Ultimately, Snapchat might have come on strong and unique with its light, bite-size and short-lived content, but it’s no longer one of a kind. Instagram, a platform known and loved by most interior design brands, has recently introduced Stories to counteract the Snapchat buzz.
Most recently, Facebook launched Facebook Messenger Day, which uses convenience to compete with Snapchat for user growth – this is an increasing weakness for Snap Inc these days, since a billion people are already active on Facebook Messenger. To further emphasise Snapchat’s sensitivity to competitor’s service launches, Snap’s share price experienced a slight dip as soon as Messenger Day was announced.
Giants like Facebook are not afraid to copy and repurpose – Snapchat may have invented Stories, but the medium has become fundamental and bigger than one company.
So, you’re probably asking yourself – do you need another place to share, now? Maybe you don’t. The best thing to do is go over all pros and cons of each social media platform – unfortunately, Snapchat will fall short on several prerequisites such as age range and advertising costs.
Whatever you choose, just make sure it’s in the best interest of your brand, and that it serves your overall digital marketing purposes – whether it’s raising awareness, increasing sales or opening up to a new or wider audience.
Coshamie is a London-based boutique digital marketing agency that works exclusively with interior design and contemporary art brands, with a focus on great strategies – individually designed to grow brands and fit budgets. Our #EspressoBlog mirrors our commitment to, knowledge of and passion towards design and art. To find out more, have a look at our services or one of our case studies.