Snapchat ads are completely uncharted waters for many business owners.
They don't seem as straightforward as Facebook or Instagram ads. So it's tough to know where to even begin with them and how they can work for an eCommerce business.
But, they're easier to set up than you might think, so I encourage anyone who has avoided them in the past to give them a shot.
Why?
Because Snapchat has 229 Million users every day.
It reaches 11% of the U.S.'s entire digital population. Therefore, I've put together this helpful guide that will teach you how to setup your own pay-per-click advertising campaigns on Snapchat.
How Brexit Impacts the Betting Industry in the UK
As the United Kingdom navigates the complexities of Brexit, the repercussions of this historic decision extend beyond just trade and politics. One industry feeling the tremors of this seismic shift is the betting industry. With a significant portion of the UK's gambling market intertwined with the European Union, the implications of Brexit on the betting landscape are profound and far-reaching.
In this article, we delve into the intricate web of how Brexit impacts the betting industry in the UK. From regulatory changes to market trends, we explore the challenges and opportunities arising in this dynamic sector post-Brexit. Join us as we uncover the implications, analyze the key factors at play, and consider what the future holds for the betting industry amidst the evolving Brexit landscape.
Regulatory Changes in the Betting Industry Post-Brexit
One significant impact of Brexit on the betting industry in the UK is the potential disruption to the free flow of goods and services. With the UK's withdrawal from the European Union, there could be changes in regulations and trade agreements that may affect the operations of betting companies. This uncertainty could lead to challenges in areas such as licensing, data sharing, and cross-border operations, which are crucial for the smooth functioning of the industry.
Furthermore, Brexit may also influence consumer behavior within the betting industry. Economic uncertainties resulting from Brexit could impact disposable incomes, leading to changes in gambling habits. Consumers may become more cautious with their spending, affecting the overall revenue of betting companies. Additionally, fluctuations in currency values and changes in regulations could impact the competitiveness of UK-based betting firms in the global market, potentially altering the landscape of the industry.
Economic Uncertainty and its Effects on Betting Trends
With Brexit looming, the betting industry in the UK faces significant challenges due to the potential changes in regulations and restrictions. As the UK separates from the EU, there is uncertainty surrounding how this will impact the betting market, particularly in terms of licensing requirements and cross-border operations. Companies operating in the UK may face hurdles in accessing the European market, and vice versa, leading to a more fragmented landscape.
One way for UK betting companies to adapt to the post-Brexit environment is by expanding their online presence. Online betting platforms like https://betzella.com/ provide a way for these companies to reach a wider audience and mitigate any potential losses from changes in regulations. By diversifying their operations and focusing on digital platforms, UK betting firms can navigate the uncertainties brought about by Brexit and continue to thrive in the evolving landscape of the industry.
Impact of Currency Fluctuations on Betting Markets
1. The betting industry in the UK has been significantly impacted by Brexit, with various changes affecting both online and land-based gambling establishments. One major concern is the uncertainty surrounding regulations and licensing requirements post-Brexit. As the UK has officially left the EU, there are potential challenges in aligning with new regulatory frameworks and ensuring compliance, leading to increased operational costs for betting companies.
2. Another key aspect is the impact on cross-border gambling services. Prior to Brexit, many UK betting operators provided services to customers in EU countries under the EU's regulatory framework. However, with the UK no longer part of the EU, these operators may face restrictions and additional licensing requirements, potentially limiting their market reach and leading to a decline in revenue from EU customers.
3. Additionally, the fluctuation in currency exchange rates post-Brexit has also affected the betting industry in the UK. Many betting companies operate internationally and deal with multiple currencies. The uncertainty and volatility in exchange rates have created challenges in financial planning and profit margins, making it harder for businesses to forecast and manage their finances effectively.
4. Overall, the long-term impact of Brexit on the UK betting industry remains to be fully seen. While challenges exist in terms of regulations, market access, and financial stability, betting companies are adapting to the new landscape by exploring opportunities in emerging markets, enhancing customer experiences, and strengthening their compliance measures to navigate the evolving regulatory environment in a post-Brexit era.
Shifts in Consumer Behavior and Preferences in the Post-Brexit Era
One significant impact of Brexit on the betting industry in the UK is the potential loss of access to the European market. Many UK-based betting companies have operations across Europe, and Brexit could lead to regulatory challenges and increased costs for these businesses. The uncertainty surrounding trade agreements and regulations post-Brexit has caused concerns for the industry, with fears that restrictions on cross-border betting could limit growth opportunities.
Another consequence of Brexit for the UK betting industry is the impact on consumer confidence and spending. The economic uncertainty triggered by Brexit has the potential to reduce disposable income among consumers, leading to a possible decrease in betting activity. Additionally, changes in exchange rates and trade policies could affect the competitiveness of UK betting companies, making it harder for them to attract customers compared to their European counterparts.
Furthermore, Brexit could result in changes to the regulatory framework governing the betting industry in the UK. With the UK no longer bound by EU regulations, there is a possibility of new legislation being introduced that could impact how betting companies operate. This could include stricter regulations on advertising, data protection, and responsible gambling practices, requiring UK betting firms to adapt to a new regulatory environment post-Brexit.
Opportunities and Challenges for Betting Companies in a Post-Brexit UK
1. The betting industry in the UK is facing significant impacts as a result of Brexit. One of the key concerns is the potential loss of access to the European market. Many UK-based betting companies have operations and customers in EU countries, and Brexit has introduced uncertainties regarding regulations and cross-border trade. This could lead to increased costs, regulatory hurdles, and potential loss of revenue for UK betting firms operating in the EU.
2. Another aspect of Brexit's impact on the UK betting industry is the regulatory changes that may arise. With the UK no longer bound by EU regulations, there is a possibility of diverging regulatory frameworks between the UK and the EU. This could mean that UK betting companies might have to comply with different sets of rules and standards, leading to added complexity and compliance costs. Moreover, changes in data protection laws and cross-border data transfers could further complicate operations for UK betting firms.
3. In addition, the uncertainty surrounding Brexit has created a volatile economic environment, which can affect consumer spending habits and overall market stability. The betting industry is closely tied to economic conditions, and any fluctuations in consumer confidence or disposable income could impact the sector. As Brexit negotiations continue and new trade agreements are established, the UK betting industry will need to adapt to the evolving landscape to mitigate risks and seize new opportunities both domestically and internationally.
In conclusion, Brexit has brought about significant changes and uncertainties for the betting industry in the UK. While the full extent of its impact is yet to be fully realized, industry stakeholders are actively adapting to the new landscape by exploring opportunities for growth and innovation. From regulatory challenges to market volatility, the sector faces a range of challenges that require strategic planning and flexibility. As the industry navigates through this period of transition, one thing remains clear – resilience and adaptability will be key in shaping the future of the UK betting industry post-Brexit.
First Things First, What is Snapchat?
Snapchat is one of the largest Social Media platforms on the market.
It's a phone app with which users can send pictures, videos, or messages. The initial concept was that these messages were only available for a short time period, up to 10 seconds long.
Snapchat has changed a lot since its creation, and now users can send images or videos without a time limit. They can also save videos or images.
But the core concept remains the same. Once you exit the message, you won't be able to see it again.
It also has several other cool features, such as filters, the ability to send cash, and Lenses. These lenses are pretty sophisticated. People are able to use them to make themselves look like babies, elderly people, or even a different gender.
The first Snapchat ad was for the movie "Ouija" in October of 2014. It was a 24-hour Snapchat story promoting the movie that appeared in User's Stories and disappeared after the 24-hour period ended.
Now, Snapchat ads are incredibly common, as any user will tell you.
How Do I Know If Snapchat Ads are Right For My Business?
In all reality, you won't know unless you give them a shot.
Many digital marketers are having great success with this advertising platform, though.
Anyone else doing Snapchat ads? We are getting great results with Snapchat for eCommerce brands. pic.twitter.com/QSfa6TfSGU
— Kevin Urrutia (@danest) May 13, 2020
I will go as far as to say:
If you're trying to reach the 18-24 age range demographic, you NEED to give Snapchat ads a try.
Furthermore, if you have a largely female demographic, it may be a good fit for your business as well. 70% of Snapchat users are female.
Therefore, if you're selling trendy women's shoes, Snapchat is the perfect home for your ad efforts.
If your primary audience is in their 50's or higher, I will say that you may struggle to find tactics that work for you. But this is an opportunity to connect with a different audience.
Think about your offers/products/services. Are there any that may connect with a younger audience?
If so, try promoting those on Snapchat. You may discover an entirely new revenue stream.
How Much Do Snapchat Ads Cost?
Snapchat ads range pretty wildly depending on the campaign you're running.
Their cheapest ad offerings start at $5 a day and they go up to hundreds of thousands of dollars per day for their more elaborate options.
Getting Started: Decide on Your Goals for Your Snapchat Ads
First, Snapchat gets you to decide on your ad campaign goals from a pre-set list. They will use this information to inform their auto-bids and ad placement.
- Brand Awareness and Video Views
- Web Views and Conversions
- Lead Generation
- App Installs and Engagement
- Brand Engagement
- Catalog Sales
Naturally, you'll want to select Catalog Sales if you're trying to get product sales.
Otherwise, you may want to try using Snapchat Ads for Brand Awareness. Every Digital Marketer I've spoken with has spoken positively about Snapchat's ability to increase brand awareness.
So if that's something your brand needs, I encourage you to check it out.
Bid Strategy
Next, you'll need to select a bidding strategy. There are 3 options:
- Auto-bidding: With Auto-bidding, Snapchat takes the lead and makes your bids for you. They try to get you the maximum return based on the goal you selected. They use your budget, target audience, and ad campaign duration to decide what to bid for any given ad appearance.
- Max Bid: With Max Bid, you tell Snapchat how much they're allowed to bid. They will operate underneath that amount while still trying to optimize for your goal.
- Target Cost: This one takes your entire campaign duration into consideration. Say your budget for the month is $1000. There may be days where you spend $50 on ads and days when you spend $5. Snapchat will try to show your ads to the most valuable users for your goals and spend as close to that $1000 as possible over the month.
I recommend that you start off with Auto-bidding. It will give you more consistent data than Target Cost, and Max Bid may not give you the results you're looking for if you set your Max Bid too low.
Give their automated bidding system a chance to acquire valuable customers. Once you're more familiar with the platform, you can experiment with Max Bids or Target Cost.
Snapchat Ad Types
Snapchat offers six primary ad types:
- Single Image or Video
- Filters
- Lenses
- Story Ads
- Product Ads
- Commercials
Single Image or Video Ads
These are probably the most straightforward ads. I recommend that beginners start here to learn the ropes of creating effective Snapchat ads.
These ads show up between or after content on Snapchat, such as User Stories, Publishers, Creators, and Our Stories.
They can last up to 3 minutes, but there's almost no way you're going to get anyone to watch a 3-minute ad on Snapchat.
This is a logical starting place for anyone new to this platform.
They need to be:
- 1080 pixels x 1920 pixels
- 9:16 aspect ratio
How to Make Them Work For You
You can really let your imagination run wild with these. They work for just about any business type.
Make sure you include text or a graphic that tells people what to do next. Let them know if they need to swipe up to access your offer.
Here's are two examples from AT&T.
These were both video ads and included different call-to-actions at the bottom of the ad. If you swipe up, it'll take you to a landing page where you can move further with the offer.
The important thing is that you make your offer as clear as possible. People are inclined to click through ads so you need to make sure that your ad is getting the point across very quickly.
Consider using Limited Time Offers, such as daily deals or freebies. Like this ad from Lumin:
This video ad features both freebies and a limited time offer. You need to play into the fast-paced nature of Snapchat to get the sales you want.
If you have a Brick-and-Mortar store, try providing a bar code for a coupon in your single image ad.
Tell your viewers to Screenshot the ad and give them a time-frame to use the coupon for a discount in-store, such as "This Weekend Only!"
Filters
Snapchat Filter ads are pretty neat, but I don't recommend them for eCommerce.
They're less dynamic versions of Snapchat Lenses. Basically, people can take a picture with a promotional filter over the image.
Here's an example from Subway:
Check out the @SUBWAY Snapchat filter! Go to your local Subway, buy a sub + drink & get a free sub! Plus they'll donate a meal! #Ad pic.twitter.com/x2UULZZJof
— David Lopez (@davidlopezfilms) November 3, 2016
Filters are usually stationary, such as the flags subway is using in the filter above.
Who Should Use Filters?
Filters are a great feature for local businesses, primarily restaurants.
Snapchat charges between $5-20 a day for you to run a Geo-filter over an area roughly the size of a suburban home. You'll have to pay more to cover a larger area. All-in-all, a pretty reasonable cost.
It's a cool feature that allows people to share your business with family and friends in the area.
Just make sure you let people know to use it.
Lenses
I won't go into great detail on this one either, Lenses are just way too expensive for most eCommerce store owners to rationalize using.
To give you some perspective, the cheapest price I've been able to find on one of these is $450,000.
Lenses are interactive, like the well-known dog lens that licks the screen when the user opens their mouth.
Who Should Use Lenses?
These are mainly for big budget promotions, such as new blockbuster movies or tv shows.
Story Ads
Story Ads are found in Snapchat's "Discover" area. They show up as their own branded "tile" in your stories.
When a user opens them up, they'll be able to see between 3 and 20 images or videos.
Use them to show a wider range of products to a highly targeted audience.
Who Should Use Story Ads?
Anyone who has used Snapchat Ads before and had success with them. They're more of an intermediate option.
I don't recommend these for anyone who is brand new to Snapchat ads.
Use the Single Image or Video ads first to figure out what actually works for your audience.
Product Ads
Product ads have some overlap into Story ads and Single Image or Video ads, because you can essentially use them as either. I do recommend this type for eCommerce businesses.
This ad makes it easier for you to showcase your entire product catalog.
You upload your product feed to Snapchat and then you're able to do some pretty cool things with them.
- Collection Ads show 4 product tiles on a Single Image or Video ad. Potential customers can tap a product that they're interested in and they'll be directed to the appropriate product page.
- Use this for advertising similar products. For instance, four different types of women's boots.
- Use a standard Single Image or Video ad to show off one product. If they swipe up, it will take them to the appropriate page on your app or website.
- Use this type to show off a specific product offering, such as a best seller.
- Product Ad Story Ads show off 3-20 images or videos in a branded tile in Snapchat's Discover section, plus it has the dynamic functionality of Product Ads.
- Use these for showing off entire product catalogs, or try showing 3 images or videos that show off your product and have the fourth ad be a call-to-action for your potential customer to swipe up and buy the product.
Who Should Use Product Ads?
Anyone that is selling a retail item.
Product ads make it easier for you to advertise a wide-range of items.
Commercials
The good thing about commercials is that they're unskippable.
They last only 3 to 6 seconds, but you at least know that they can't move on without finishing your ad.
You can also do Extended Play Commercials. These are unskippable for the first 6 seconds. They then lead into a longer commercial that can be up to 3 minutes long.
Who Should Use Commercials?
Commercials work well for services and products that need a video to properly illustrate their value.
Particularly, if you have the time, personnel, and money to put together a quality promotional video that will catch peoples attention in less than 6-seconds.
The Best Part About Snapchat Ads: Targeting
This is what makes your ad efforts actually work. Targeting refers to the act of getting your ads in front of the right customers.
And Snapchat has some excellent targeting options for your ads.
You have the standard options, such as:
- Age Range
- Gender
- Language
But Snapchat also has some incredibly specific options for your targeting efforts.
To name a few, you can target:
- Any specific income bracket
- New moms
- Small business decision-makers
- Moms with kids in High School
Therefore, you can get extremely nuanced in your targeting.
Target your audience based on what you already know about them from your Analytics. Use this information to create a Custom Audience.
Alternatively, you can import a file from a Customer Relationship Management system and Snapchat will create a lookalike audience from that.
Audience Categories
Snapchat also offers Audience Categories to try and make your life easier. My only issue with Audience Categories is that they're not usually as effective as you'd like them to be.
But they do work and they're a good place to start, as well as expand your audience.
How it works is that you select an Audience Category, then a subcategory, and then, Snapchat gives you even more specific subcategories to help drill your audience down further.
There are four categories:
Lifestyles
Lifestyles breaks people up by their interests and hobbies. If you're looking to connect with Fitness Enthusiasts, Pet Lovers, Photographers, Gamers, etc., this is the way to do it.
Shoppers
Naturally, Shoppers are people with a natural proclivity for making purchases online. This is the one that most eCommerce store owners should focus on. You can target Home & Garden, Pet Owners, Apparel Shoppers, and more.
Spend some time with these and see what works for you. Use the information that you get from customers that actually complete a purchase to create custom or lookalike audiences.
Viewers
Viewers break up audiences by their Movie or Television viewing habits. You can try experimenting with these audiences, but they're primarily for segmenting people by their viewing habits to advertise related media they would be interested in.
Visitors
Visitors are people who have visited certain types of establishments recently. Such as people who just went to a concert or visited a car dealer.
Analyze and Optimize
Snapchat offers their own internal analytics. From here, you'll be able to find out what's working and what isn't.
They'll tell you which groups have the highest swipe-up rates, what type of device they're on, and more. Use this information to improve your targeting.
You may be surprised to find out who your ads are connecting with.
Source: via admin on DeviceDaily.com – Technology Highlights
We Asked Other Digital Marketers About Their Experiences with Snapchat Ads:
"
The process of setting up an ad was quite simple, a lot easier than Facebook and Instagram and the analytics are very helpful too.
Brett Downes
"
People don’t like ads, but they do like seeing people. If your ad is relatable and looks like an actual Snapchat video, posted by an actual person, it will do a lot better than a beautifully made advert.
Camille Chulick
/ Averr Aglow
"
In and of itself, the campaign played out well, because it was such a good match for the platform and resonated with the target demographic; ultimately though our demographic targeting somewhat let us down.
Julie Moore
/ English Blinds
Final Thoughts on Snapchat Ads
If you've been avoiding Snapchat Ads, it may be time to give them a shot. For the right marketing campaigns, you may be surprised to see how well they work.
Remember:
- Decide on your goals
- Set a budget
- Pick an ad format and don't be afraid to try out different ones
- Set up specific targeting
- Structure your ads like they're a user's snapchat - use the correct proportions and include people
- Analyze and optimize
Good luck and get some sales!
Questions or Comments? Leave a Comment below!
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