By now, we should all know how Snapchat works. Users snap a picture, set a time limit and then send it to their friends. Sounds easy. And ephemeral. This is why we were left speechless when we read how MUCH Snapchat charges for an ad.
As Adweek reports, Snapchat asks a hefty $750,000 for an ad that will run for a day. Yes, that’s a lot of money. However, it’s not the first time we hear something this outrageous, because a Pinterest was asking $1,000,000 for an ad just a while ago. The only question we have to consider is if advertising on Snapchat is actually worth all this money.
First of all, Snapchat is king among teenagers and young adults. This is very interesting for advertisers, because they have the unique opportunity to shape buying habits. The only rival that can compete with Snapchat on this field is Tumblr.
On the other hand, the app was not developed having brands in mind. There are no sophisticated reporting tools, nor targeting options and brands can more or less speculate about the outcome of each campaign.
So, advertisers have to ask themselves what’s more important to them: Access to a niche or analysis and reporting?
Would you pay that much for an ad on Snapchat?