Snapchat has always been concerned about its advertising business. As a standalone application, it is known to follow/imitate Facebook over the years. With the latest update released from Snapchat, it won’t be wrong to state that Snapchat in 2017 replicates Facebook as was seen in 2012.
The latest add-on from Snapchat targets the same marketers which Facebook did to expand its mobile ad business. The new program dubbed the Snap Accelerate will enable mobile start-ups to advertise on Snapchat. It can either be in the form of giving early access to new ad products or in the form of credits which one can use to purchase ads.
Many consider the release of Snap Accelerate as a Snapchat attempt to lower down the barrier to entry for advertisers and simultaneously attain must-buy status. The company made it easier for the brands to automate their Snap Ads purchase by releasing an advertising API. The company added two more self-serve tools allowing businesses to buy Snap Ads on their own and to create vertical video ads.
Snapchat believes that by targeting start-ups as its primary base, it will allow the start-ups to expand their user base as well as business. The more the business grows, the more financially stable these start-ups will get, thereby making it easier for them to purchase more Snap Ads. As the count of successful case studies improves, more companies would start pitching in for Snap Ads benefitting both them and Snapchat on a broader scale.
If Snapchat official developer page is to be believed, the new program will target three startup types:
A major constraint to these start-ups is that they must be interested in direct response advertising and should operate consumer-facing mobile apps. In simple language, Snap Ads will target those organisations that helped Facebook conquer mobile ad market surpassing its concerns both in 2012 and 2013.
All marketers who qualify for Snap Accelerate program get a significant amount of money they can use for purchasing ad creation and ads on Snapchat. They also get early access to new ad products and tools alongside Snap’s Marketing API. An additional benefit which the organisation receives is that they can run a free branded filter around their headquarters for a specific tenure.
Marketers can benefit from Snap Accelerate program as per the features offered by it in the form of three different tiers. The categorisation as per many is based on the participating company’s size and stage of growth. Check out how the three tiers differ from each other:
- The organisation gets up to $20,000 worth of benefits. It also receives additional credits to use either for buying ads or for payment of ad creation
- Free branded filter is available for 3 months
- The company gets benefits worth up to $50,000. They receive credits to use for buying ads and paying for ad creation
- Free branded filter is available for 6 months
- The organisation gets invitation to attend Snap-hosted education events
- The company gets preference over other firms for business and technical support
- The firms are given up to $100,000 worth of benefits, which also includes credits to use for buying ads and paying for ad creation
- Free branded filter is available for 12 months
- Other than Snap-hosted education events, the organisation also gets invited to private networking events
- The organisations get priority for business and technical support
Considering the perks offered to start-ups and other organisations, we can say that Snap Accelerate has the potential to grow. Targeting start-ups is an excellent move as it will allow the company to convert them into long-term partners.