14 Nov What Snapchat’s Impending IPO Means for Social Media Marketers
Snapchat continues to gain momentum with Millennial and GenZ audiences, and time spent on the channel is still growing. Marketers want a piece of that pie. While Snapchat (or Snap) has never been the place for quality metrics, their impending IPO will certainly impact social media marketers looking to capitalize on the channel. Here are some things to consider as Snapchat heads towards their expected IPO in March.
1. Don’t expect to see metrics anytime soon.
You want follower counts? I hope you don’t mind counting them manually. Snapchat has signed on several partners (Nielsen being one) to measure ad effectiveness, but few platforms track your owned-content performance. And Snaplytics is the only one who claims to do it within Snapchat’s Terms & Conditions. This is because Snapchat has other fish to fry at the moment. Their hope is to drive marketers toward paid options to increase revenue prior to their going public.
2. Don’t expect the prioritization of organic content.
We’ve seen this from all the major players over the past years. As monetizing their platform becomes a priority, the networks downplay the organic reach or engagement that brands can gain from having a quality presence on the channel. One marketer openly publicized their experience in working with the Snapchat sales team- and it very obviously pushes ad units, not organic content/growth. However, some brands are still getting creative about their opportunities on the network and exploring their growth options.
3. Do expect an easier way to place ads.
As the Snap sales team prioritizes profit, there are rumors they will open their API for programmatic ad units. This could be a game-changer for agencies and marketers, as placing units on Snapchat today is time consuming and expensive. Programmatic buying on the channel could increase available ad opportunities on the network, and create a more seamless experience for marketers to pay to play on the channel.
4. Do expect the gimmicks.
As with any network heading towards a round of funding, you should fully expect some gimmicks to drive increased chatter, awareness, and potential increased use of the channel. Enter Exhibit A: Snapchat Spectacles. A pair of physical glasses designed to capture and post video content in real-time. We should all just anticipate more of this type of thing from the network in the coming months.
Whether or not your brand posts or syndicates content on this channel today, if you’re a social media marketer, you should certainly be following this network and their progress as they head into the coming months.