Advertising revenue for Snapchat predicted to rise 2873% in the next 3 years
With over 150 million people using Snapchat each day to message friends and catch up with the latest celebrity news, it's primed for marketers to target the 18 to 34-year-old (41% of users) demographic with advertising. According to Statista revenue through advertising is set to rise to over 1.7 billion by 2018, which is truly phenomenal but still has a way to go to rival Facebook's $5.2 billion in the first quarter of this year.
Brands that are utilising the growth of the Snapchat platform are increasingly joining forces with high-profile influencers to place their products in front of the increasingly difficult to please demographic of 18-34 year olds.
One of the most recognisable marketing activities are the sponsored lenses, which instead of turning you into a dog or a deer you can become a taco with Taco Bell, or have light shine out your mouth with Cadbury. Who wouldn't want that?
The most staggering aspect of these filters for me is that a user will spend an average of 20 seconds playing with it, once you add in that 9,000 snaps are shared per second that provides amazing awareness for any brand.
Read our case study on how Cadbury smashed its targets by betting half its budget on Snapchat to find out how Snapchat can have real world applications for brands.