Earlier today I was setting my boss up with a Snapchat. If you’ve never heard of Snapchat, you’re either old or don’t have a smartphone… or both. more than likely both. Her reaction to it, this being her first time on it, was eye-opening. She was enthused by the idea that she could post something and see who all looked at it.
I, being immune to this concept by now, took a step back and realized how cool that actually is.
Snapchat has about 100 million DAILY active users. The average number of pictures shared on Snapchat EVERY SECOND is 9,000.
Just in my family alone, my (not-so open to social media) momma, grandma, two cousins, and super conservative aunt all have Snapchats. I’m sure I am not the only person with older family members on this app. Give me your input in the comments below!
Not to mention Snapchat’s money making feature, the advertisements. Maya Kosoff from Business Insider stated it plainly, “…wasting no time in transforming its new selfie-photo feature into a money-making, ad-friendly product.” CEO Evan Spiegel implemented the ads BEAUTIFULLY. He made them not so annoying. Companies can sponsor a “lens” with their logo on it, allowing Snapchat users to take a selfie with the brand logo in their picture. Users use it just for the cute decorations, but the marketing behind it is remarkable. And the PROFIT for Snapchat….GEEZE!!
According to the FT, a sponsored lens can run a business $450,000 on a regular day and $750,000 on a holiday! Spiegel created his own gold mine.
WHAT CAN PHEED DO TO CATCH UP?: First of all, set realistic goals. Pheed cannot just assume they are going to make half a million dollars off of one advertisement. The cool part about Snapchat is that they make advertisements not feel so advertise-ish. They actually make them fun for users. However, Snapchat did not BEGIN like this. They first had to get users to like and use the special holiday filters. (with no brand logo) Then, once users were familiar with the lenses, Snapchat slid the ads in. GENIUS
Pheed should think of ways to make advertisements unnoticeable to members. Maybe have businesses create funny short clips with their brand name somewhere in the video, and then have the clip on the home page where Pheeders will all see it when logging in.
It will make Pheed MAJOR money while also not annoying users.