A few weeks ago, Snapchat introduced users to a new feature called “Lenses,” which turns your ordinary selfies (both photos and videos) into wacky, bizarre, hilarious, and colorful masterpieces of ephemeral art.
Up to $ 750,000 for Sponsoring “Lenses”
Snapchat has roughly 100 million daily users, and these “Lenses” have been incredibly well received since their inception. “Lenses” will continue to be a smash hit with Snapchat users, especially after their decision to double down, and allow brands to sponsor one of the “Lenses” on Snapchat. Sponsored “Lenses” will run up to $ 750,000 for Millennial-seeking brands, and Snapchat is targeting the upcoming holidays, such as Halloween and Thanksgiving, to debut these branded “Lenses” on your selfie photos and videos.
Three Main Ways to Advertise on Snapchat
Currently, advertisers on Snapchat can pay to reach users in three main ways. The first is through Snapchat Discover, which curates news, entertainment, Internet stories, and other interactive content through specific publisher channels. A brand will pay Snapchat and the selected media entity or publisher to create content around their brand. Another format calls for brands to place advertising spots in city and event stories, but those only last for 24 hours. And lastly, Snapchat works with brands, events, and other commercial businesses to create geo-filters that users can add to their photos.
Of course, another way for advertisers to jump into Snapchat is through influencers with large followings on social media and Snapchat. Technically, a brand and influencer does not need to work with Snapchat for any partnerships, but these new lenses open the door for creators and Snapchat influencers to engage with their friends and followers in new ways.
The Experiments Continue
Compared to other social networks, Snapchat is still in the early stages of revenue. They are experimenting with the product, with users, and with the brand partners who have already spent money with them. Sponsored “Lenses” represent one more of these experiments for Snapchat, which continues to grow among individuals 34 years old and below. 45% of the app’s users are between 18 and 24 years old, and 71% are below the age of 34.