Snapchat’s share prices have dropped 57% from their peak – leading advertisers to view the app in its most unflattering filter yet
Back in 2011, Snapchat launched and taught us all a lesson about ourselves: we really, really like taking selfies. And we also really like sending them to other people.
Fast-forward to six years later and it seems Snapchat now has a lesson to learn themselves: how to maintain good B2B relationships.
Facebook and Instagram have staked their claim as lucrative advertising platforms but Snapchat remains behind. Advertisers are increasingly opting for platforms with more robust analytics, leading to decreased revenue and weakening stocks for the company.
Since the announcement of disappointing Q2 earnings, speculation has developed regarding just why Snapchat is so unattractive to advertisers.
Stats = evidence of progress
It’s a fact of business that people want results for their efforts. For a client investing hundreds of thousands into marketing campaigns, ROI is imperative. Not having effective insight could make whatever you’re offering a much harder sell.
Partly to blame for its falling share price was Snapchat’s lack of measurement data. Advertisers have long been unhappy with the distinct absence of third-party data, as it wasn’t exactly clear where their ad spend was going.
However, now it looks like Snapchat has succeeded in updating more than just the dog filter – on 1 August, Snap announced The Snap MMM Partner Programme. By giving access to third-party data from Neustar MarketShare, Analytics Partners, MMA and Nielsen, the programme will provide effective stats on ROI.
Show off your success
Adblocking presents a multitude of problems for publishers and advertisers, so companies need to be savvy in terms of how they present content.
For example, Snapchat has been criticised for its placement of advertisements. Scrolling through Facebook, ads are usually placed before videos or embedded in the newsfeed. By contrast, users can easily skip Snapchat’s promoted stories with a simple tap rendering the thousands spent on a campaign fruitless.
Finding the balance between content that isn’t invasive and content that can’t be dismissed easily is key. Information should be accessible, without being pushy.
Snapchat’s palaver with their shares has led to developments and changes that could turn their luck around. But, as ever, keeping on top of insight and delivering quality content in the appropriate setting is vital to successful marketing practice.