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Snapchat - The Millennial market whisperer

It is time we bid farewell to the social media landscape as we know it. Snapchat is revolutionising the environment in leaps and bounds. The golden nugget insight on which all of Snapchat's success has been built, stems solely on the complex understanding of the market - Millennials - and the ever-changing society around them.
Snapchat - The Millennial market whisperer

In an age where instant gratification is the norm, Snapchat has employed a ‘no holds barred’ approach. If there was one phrase to describe Snapchat, it would be YOLO (You only live once). Here’s why - while Instagram captures perfect, filtered moments that live online forever, Snapchat embraces raw, real moments which allow us to live vicariously through our friends and even strangers. This content only lives for 24 hours and as a result, an addiction has been formed. Content is generated every second, Snapchatters are forced to constantly engage with the app in order to maintain their presence and remain relevant.

One can only admire their dedication to the cause and their ability to generate interesting content frequently, this can be a direct result of the free time this market has accumulated by using phrases such as bae, tbh and simply the letter V. It is both exhausting and fascinating for those of us who, in all honesty, just don’t fit in on the app.

Snapchat is a rising threat to the likes of Facebook, Twitter and even YouTube. Due to Snapchat’s recently released ad technology and inventory, the powerful engagement that happens every second of the day and the subsequent growing user base - all of which stems from and leads to the thorough understanding of the target market.

Not only has Snapchat created a loyal user base and consequently overtaken some of its competitors, it is also whispering sweet nothings in the ears of advertisers. Data is collected through Stories, Live Stories watched, Discover channels browsed and any other in-app activity. This data is used in defining the new targeting metrics which range from Snap Audience Matching and Look-alike audiences to Snapchat Lifestyle Categories. On top of these exciting targeting opportunities, Snapchat is improving the measurement capabilities.

While Snapchat’s original stance was to veer away from ‘creepy’ advertising, it has now opened up a whole new world of possibilities aimed at making Snapchatters feel understood and serving ads that are relevant to them in a native environment. The advertising options are limited only by one’s creativity. While the platform lends itself to vertical-video, there are opportunities to collaborate with the platform to create innovative, interesting ads to capture the fleeting attention of this market.

Speaking to Snapchatters requires a slightly different approach to the usual Facebook and Twitter banners we have come to know. Creativity is essential to making any kind of impact on this very particular market. It is about using influencers and ambassadors to inspire this aspirational market and assist them on their journey to greatness.

The future is bright for this innovative platform with a rebrand on the horizon. Chief Strategy Office for Snapchat, Imran Khan stated in an interview with Adweek that the company is more than just one app. It is a camera company that is paving the way for cutting-edge technology. Snap Inc., as it will soon be known, will be releasing Spectacles, a breakthrough in wearable face-tech. These trendy looking glasses operate by tapping the frames to record 10 seconds of raw, action video at a time, supporting the rough-edge environment that Snapchat has created.

It seems that Snapchat has found a niche that we can all enjoy and the taste of success is no doubt sweet for them as well. The platform is expected to turnover $366m in advertising revenue and is forecasted to hit nearly $1bn by the end of 2017. Snapchat is certainly a force to be reckoned with.

7 Oct 2016 11:28

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About Fagan Abraham

Fagan is a Media Strategist at OMD, SA's largest media agency. She is a creative and driven young talent with a passion for innovative and unique media.




Comment
Dustin Chaplin
As someone who has never ventured onto the snapchat platform, but a user of Facebook and Instagram, this is rather an interesting insight into what could be the next big thing, or shall I say already is... I wonder however if our generations obsession to live their lives through the eyes of others comes from a place of quiet desperation or a place of inspiration? are we more consumed by what others are doing and what we want the world to think we are doing than just living in the present, and experiencing the now, not judging our lives by those around us and their 'social media lives'. I do not think there is a right or wrong answer to any of these, as the ability to share our experiences has made the world and the relationships in it so much richer, but as connected as we are today, there is this uneasy feeling I get that our social lives and the way we constantly have to have some sort of social praise and affirmation, constantly comparing ones journey to that of another, and sadly I think creating a sense of low self-worth if we cannot meet or exceed these expectations we create.From a business perspective, this article has phenomenal insight, and proves just how much growth there is for this platform. My key takeaway from this has to be the extent that snapchat (Snap Inc.) has been able to create a captured audience, forcing the user to come back daily in order to remain up to date and relevant, and as you say ‘addicted’. This would be like the holy grail to advertisers… however, the key then is in the ability of marketers to create interesting content daily, this then becomes a game of not who can spend the most money on a brilliant once off ad campaign but who can come up with relevant, engaging, creative and interesting content every 24 hours. My next question is how loyal is this user? Do they care for your brand or are they only hungry for the company or user that will provide them with frequent, engaging content? Will your once off ad campaign matter to them, or do you need to become a native contributor to their experience.Great article! This has certainly sparked some interesting thoughts, and leaves me intrigued into this fleeting world of Snap Inc. and its potential…Dustin Chaplin, Director at Hashtag House (Pty) Ltd
Posted on 11 Oct 2016 06:39
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