Note: This was featured as part of our Web Wednesday segment on Charleston’s 105.5 The Bridge. You can catch us every Wednesday morning at 8:20 am ET for your dose of social media & digital marketing news. You can listen to the segment below:
With over 70 million people engaging with Snapchat Lenses every day, and with more than 250 million augmented reality (AR) snaps shared daily, Snapchat is a leader in AR marketing. To capitalize on its enormous user base and boost ad revenue, Snapchat is introducing new Shoppable Augmented Reality Lens.
Branded lenses, which are special filters users can put on their selfies, will now have the option to include a “Buy Now,” “Watch,” or “Install Now” button. Interested users can click the button and be redirected to a sales page, a video, or an app download.
What are the Augmented Reality Lenses and are they effective at reaching customers?
1. Website Lens
Branded filters that involve the “Buy Now” button are the “most shoppable” of the three lens categories. The Website Lens gives advertisers the option to use the Snapchat app to link to a product page.
Adidas is a major brand that is testing the “Buy Now” lens with its release of a new line of sneakers. The branded filter introduces the product, and a “Buy Now” link directs users to Adidas’ mobile website where they can purchase the shoes.
2. Video Lens
If an advertiser is interested in promoting a game or movie trailer or other video content such as a how-to explanation or behind-the-scenes footage, the Video Lens is the best option. By adding a “Watch” button to a branded filter, users can easily access the content without having to search for it on another app.
The new Amy Schumer movie, “I Feel Pretty,” used the Video Lens option on Snapchat. Instead of searching for the movie trailer on Youtube or other app after seeing the branded Lens, users could access it directly through Snapchat.
3. Install Lens
For app developers, the Install Lens is a huge opportunity to promote their products. The “Install Now” button allows users to download the app or open it if it has been previously downloaded. According to Snapchat, on average over half of the 13-34-year-olds in the US engage with the AR lenses each week. The Shoppable Lenses are a huge sales opportunity for companies targeting the Gen Z and Millennial demographics.
So how much does all of this cost? The app has a variety of payment options. Bidding can start as low as $100 per day, or, advertisers can pay $40,000 or more for audience-targeted lenses with an agreed-upon CPM. Finally, advertisers have the option to pay a flat-rate fee for prime positioning on the lens feature.
This new design is a non-interruptive advertising strategy that may prove to be more popular amongst the younger demographic. Unlike other Snapchat ads that interrupt the flow of Snap stories the user watches, filters are non-invasive and don’t detract from the overall app experience. Users can choose whether or not they want to interact with the lenses which makes them more receptive to the ad’s content.
What do you think of Snapchat’s new feature? Tweet us at @TargetMarketCHS to let us know!