Snapchat Latest Update: Everything you need to know

By: Karina Rocha

April 26, 2016

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Source: Snapchat 

On-Demand Geo-Filters are Finally Here!

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Marketers have  been eagerly awaiting in anticipation for Snapchat to implement advertisements into their application that will show a greater ROI and engagement. Well my friends, that time has come with their new on-demand geo-filters.

Snapchat recently announced in their latest update that they will be offering as an opportunity for businesses and people to pay for a geofilter. With an audience of over 100 million daily active users, the eagerness to get a piece of the action is understandable.

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With all of this excitement and buzz surrounding this latest update, there are many questions us as marketers have. So, we’ve compiled a list of the top questions you may have about the new geo-filters and how they can become the latest part of your visual marketing strategy.

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How do I get one? 

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Snapchat outlines the process of applying for a geo-filter in three steps :

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  1. Design
  2. Map
  3. Buy

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Simple enough right? As you saw in the video Snapchat has depicted the process as first developing a design, choosing a specific geographic range and then submitting it for review to receive a quote.

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Of course Snapchat has put in place standards and policies to adhere to in order your request to be approved, but that is typical of any advertising platform.

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So compose we suggest that you create an engaging, fun filter that will compel the audience to interact with it.

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What is their 3V advertising model? 

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Vertical, Video, Views. The people at Snapchat have developed this pitch to marketers to entice their innovative new advertising opportunity.

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Vertical means that all the ads are displayed in a vertical format which is typically defined to be a mobile phone. Snapchat is highlighting the fact that your ad will targeted to the mobile phone user, most likely the millennial.

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Video means exactly that. Snapchat offers brands and companies to advertise their content in engaging video format.

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Views are defined by Snapchat as “100% viewable and full-screen”. Compared to other social media competitors, who can’t make that same offer. On Snapchat if a user chooses to apply a geo-filter, they do so willingly because its engaging; on the other hand, users don’t choose to see an ad on other sites.

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How much will it cost me?

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Depending on the amount of time and size of the area you choose, the amount will vary. But with that being said, prices start at $5 and range upwards from there making a great option for any business as marketers can choose to adjust it to suit their budget.

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Is it worth it?

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The snapchat audience watches more videos daily than any other platform.  The beauty of the geo-filter and Snapchat is that if they’re using your filter then not only are you guaranteed their interaction with the brand but also to everyone they may send it to.

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Snapchat also has implemented metrics to help you gage the success of your geo-filter, something entirely new we have seen quite yet.

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While this new outlet is still too new have any statistical information on its success, in the very near future this should be available to review. But if you’re seeking out an inbound marketing strategy then there should be no hesitation on your part. This is the latest and “coolest” platform to millennial, so in order to be ahead of the game- now is the time to act.

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If you’re marketing to the young millennial, then this is definitely something you should begin drafting plans for. Let us know in the comment section about your thoughts on this latest advertising medium. Do you still think Snapchat is just a fad or here to stay?

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