Snapchat is looking to compete with the big kids of social media.
The mobile social media app embraced ads just over a year ago, but it is now bolstering its offering to stand with platforms such as Facebook, Twitter and Instagram. With a new partnership with Nielsen, Snapchat will now offer marketers more robust analytics.
Last week, Nielsen announced that it would start measuring American brand managers’ Snapchat video ads as part of Nielsen’s Digital Ad Ratings program.
Nielsen will first measure ads that appear in Snapchat’s Discover and Live Stories feeds, but it will eventually encompass sponsored geofilters and lenses—overlays that Snapchat users can add to their own posts.
Neilsen said in statement that the partnership will enable Snapchat to gain—and pass along to marketers—insights on audience reach, demographic composition, frequency and other analytics that are available with both TV and digital ads.
“Snapchat’s 3V ads represent a unique approach to advertising,” says Steve Hasker, Neilsen’s chief operating officer. “We’re proud that Snapchat has chosen Nielsen Digital Ad Ratings for its first foray into standardized campaign measurement and look forward to continued collaboration.”
Business Insider reported that Snapchat has been partnering with measurement and analytics companies—an important move, because it collects minimal information about its users when they register (unlike Facebook):
As Snapchat looks to solidify itself as a great place for advertisers—and bring in the cash that comes with it—the company has started to embrace the kind of measurements ad buyers need. It’s a middle ground for the company, which previously said it detests the “creepy” targeted ads many CMOs love.
Snapchat’s chief strategy officer, Imran Khan, says the platform is committed to offering marketers the things they desire.
“We’re excited to work with Nielsen to measure the great results our advertisers see every day on Snapchat,” Khan told Business Insider. “We’re committed to bringing all the major measurement solutions to our platform.”
Snapchat isn’t just looking to provide marketers with analytics for their efforts, either. Though currently not part of Nielsen’s analytics, brand managers can benefit from Snapchat’s enabling brand managers to create sponsored geofilters around specific areas during specific events or times. Mashable further explained:
Buyers have some flexibility in arranging the details, though the on-demand filters aren’t nearly as far-reaching as the app’s sponsored ones, which can sometimes cover the entire country. The on-demand geofilters can cover anywhere from 20,000 square feet (part of a city block) to 5,000,000 square feet (several city blocks) and can last for an hour or a month. The price will depend on both of those factors.
Marketing Land contributor Tim Peterson broke down the cost of sponsored Snapchat geofilters for several events, including The Academy Awards, the first night of Justin Bieber’s 2016 tour and South by Southwest Interactive Festival.
Marketers can buy filters as cheap as $64 (the cost of a three-hour filter outside the Staples Center in Los Angeles for Kobe Bryant’s last game) to more than $2,600 (the cost of 216 hours outside the Palms Casino Resort in Las Vegas during spring break).
Even with the snazzy ads and brand journalism opportunities, many marketers still wonder if Snapchat is worth the cost—and effort.
Mark Fidelman, managing partner at Evolve, wrote in Forbes that besides a struggle to gain followers and the lack of external links, Snapchat is terrible for marketers because of the fundamental concept of the app: disappearing messages.
Nothing is worse than a marketing message that disappears and can’t be recalled later. It doesn’t matter how you spin it or phrase it. If it’s something that can’t be recalled or watched again, what’s the point? Yes, I know you can take a screen shot, or download a video (if the marketer allows), but trust me, not many users are going to do that.
What do you think, Ragan readers? How does Snapchat work into your marketing campaigns and messages?