Snapchat was invented as a way to communicate with friends via pictures and videos. Since then, it has become so much more than that. In fact, there are publications to which you can subscribe and friends’ stories that can be viewed.
On the other hand, there are Snapchat ads that companies can use for their business. Before ci advertising commitment, let’s examine which features you can use to be successful on the platform.
Utilize Snap Publisher
This tool lets you create and edit advertisements within minutes, all within your browser. To get started, all you need is a free account, wherein you can open an ad account and start publishing ads. Follow the features below to get the most out of your advertising:
- Choose a Template: Use a template to begin from scratch and create content that fits your objectives.
- Customize your Video: Customize videos using different colors and text, and remember to use your own assets alongside the built-in options.
- Publish Your Video: Use the Ads Manager to make any final changes before you publish to Snapchat.
How Does Pricing Work?
The cost of advertising on Snapchat varies based upon the type of ad, competition, budget, and overall duration of the advertisement. With these factors in mind, you can tailor advertising costs to your exact needs and benefits.
Campaign Budget and Duration
Every ad you create will have its own budget. However, there is a minimum daily budget of $5. The daily budget is the average daily amount you’re willing to spend on specific ads per day.
To ensure you’re not spending too much and going over budget, set spending caps to limit the total amount of money spent.
Let’s Look Into Snapchat Bidding Options
Snapchat uses bidding options to grant advertising space, as well as the amount you want to spend. There are four ways to bid for your advertising space. Follow along to see how each one will work best for you.
Goal-Based Bidding: The platform heavily relies on this form of bidding. Goal-based bidding will let you optimize toward a specific action that a user is assumed to take. This can range from installing your business app to completing a purchase.
Your campaign will be optimized to the bid goal on the selected bid strategy. Plus, all advertisers will only be billed at a cost per thousand impressions (CPM).
This type of bidding sets the foundation for three other types:
- Auto Bidding: This is a strategy that allows Snapchat to set the bid for you. You’ll have the opportunity to get the most out of your goals and budget. You’ll also be able to reach your target audience effectively.
- Max Bidding: You can tell Snapchat the maximum amount a platform can bid for you, while you try to achieve the most efficient CPA (Cost Per Action).
- Target Costs: This strategy allows Snapchat to bid with your permission. The platform will seek the set CPA amount by the time it hits the end date.
Our Final Thoughts
Since cost is mostly in your control as a business, Snapchat is one of the few social media platforms that offer a near-certain return on investment. With their different bid types, influencers, unique ad types, and template features to help publish your videos, Snapchat is meant to aid you in your advertising needs based on the target market you select.
Ask yourself how much you want to spend, but also what you want to earn from advertisements in the long run. Setting a goal beforehand will help you to achieve the needs of your business.