Snapchat in a rut?
I don’t think so!
Advertising spending on Snapchat soared 73 per cent in the third quarter of this year.
The growth was due to features that now allows companies to track where customers shop. This means advertisers can now target their ads more effectively.
Companies also spent 55 per cent more on Instagram over the same three months.
What does Snapchat know?
Location information from Snapchat gives companies detailed information on where customers are, and when they enter a shop.
This has allowed firms to more accurately measure how effective each ad is, which in turn encourages them to spend more.
Ad spending across all the major social networks increased 31 per cent.
Instagram Stories, the carbon copy of Snapchat Stories, saw a 220 per cent rise in the amount advertisers spent year-on-year.
This shows the power of video within advertising. Even in such short format, there is clearly money in Stories.
If you’d like to chat to someone at +24 Marketing about using Snapchat, Instagram, or any other social media platform then call us on 01282 792568 or connect with us @Plus24Marketing.