Snapchat offers more than just cute pictures and goofy videos. Apparently, it is now a money-making app. Products are constantly advertised, and money is steadily made. So, if you have good followership, you can put it to good use and make money from Snapchat.
Bob Murthy and Evan Spiegel the developers of Snapchat in 2011 created a platform that allows users to share a story, photos, and videos with their followers. However, it’s the 7th most frequently used in the US and also the most used by teens.
Now, if you have good followership on Snapchat but you do not know how to make money from it, this post is for you.
So, stay with me as I take you through the various ways to make some extra money from Snapchat.
How can I Make Money From Snapchat?
Here are ways for you to make money on Snapchat:
#1. Create And Promote Great Content Products
Study shows that the attention span of an average person is 12 seconds. That is to say that you have about 12 seconds before you lose the attention of an average person.
In that time, you’d have to create quality engaging Snapchat content to capture and sustain the interest of your followers.
You can promote content products like ebooks, audio programs, or video courses on Snapchat and make money. However, the volume of sales depends heavily on the quality of the content, design, and promotion.
There are different tools available for you to tailor your content to improve its quality and make it really striking. Tools like captions, doodles, emojis, stickers, or other creatives.
Since your audience is mostly millennials, ensure you maintain a steady rhythm of creativity.
#2. Design And Launch Geofilters
You can make money from Snapchat by creating a geofilter when you want to run an exclusive event in a specific place or if you are opening a new store. It works because US millennials love to share filters even if it’s branded.
Also, you can create and launch a free geofilter for a public location that is connected to your niche like the parks, neighborhoods, cities, etc.
To create a geofilter, you simply take a photo or a short video and then swipe to see all the available filters and pick the suitable one.
Ensure you customize your geofilter with the aid of Snapchats templates in Illustrator Formats or Adobe Photoshop and then test it using other images.
Then, download your geofilter and set the correct date and time, and select a location. You can now proceed to pay for the filter and confirm your order.
Geofilters come in two different types – personal and business. To create a business geofilter, you must include trademarks or logos. However, you can’t use phone numbers, contacts, or URLs.
The basic apps report Snapchat offers helps you easily measure the effectiveness of geofilters.
#3. Promote Affiliate Products
Affiliate marketing is yet another way you can make money from Snapchat. You would just need to invite have as many followers as possible to your Snapchat account. You can become an Amazon Associate, promote their products and earn commissions on each sale, or click.
The most effective way of promoting affiliate products is by writing thorough reviews. Basically, you let your readers know how you feel about a product that you have used and liked.
Give a comprehensive review clearly stating the upsides and downsides of using the products.
The more honest you sound; the more convinced people would be to spend their money on your products.
#4. Sponsored Lenses And Posts
Millward Brown Company showed that sponsored lenses are more memorable and as such increase business sales than other channels. Different brands, such as ‘L’Orea,l Sony Pictures, Universal Studios, and Michael Kors, are using sponsored lenses to make money from Snapchat.
You can also use Snapchat to promote and connect with your target customers to generate leads for your consulting and coaching business on Snapchat.
Sponsored lenses and posts are exclusive ways of promoting Snapchat. You can offer your branded lenses whose creation is a privilege of Snapchat. However, you’d have to explain your business goals and Snapchat will create a design with your products and logo on it.
Users can see and share the lenses with others, and friends can recommend a sponsored lense to others.
Sponsored stories are also ideal for promotions. When using sponsored stories, you should make the story captivating to grab the attention of the audience.
Also, Snapchat shows sponsored stories in the special section where users see them by default when they are going through the stories of their friends.
#5. Create Snap Ads And A Call-To-Action To Your Services
Creating call-to-action buttons is another way you can make money with Snapchat. Create a button that convinces people that they can make profits or you can solve their issues in the best way.
Try to incorporate teaser images whilst creating a call-to-action button. This would make your followers more likely to click on them.
Also, ad your Snapchat username and your email signature to your other profiles. And, when you put your stories on display, try to put your Snapcode wherever possible.
Research shows that over 500,000 users check through Snap ads in the day. You can create and send your message to your target audience via Snap ads. Though it is restricted in some countries, Snapchat ads manager could conveniently help you with this.
The app supports specific ad formats, including Snap ads to listen, watch, and more.
You can also make some more money through a premium Snapchat subscription. This type of account allows people to share daring videos and photos with an explicit target audience, and people have to pay to access the content.
Tips On How To Make Money From Snapchat
These are some tips to help you earn some money on Snapchat:
- Use the most popular ideas. If pretty women and funny dogs captured the audience’s heart, incorporate them in your own filter, lenses, or ads.
- To deliver the highest level of engagement, define your personality constantly.
- Try to make your sketches lively and hilarious, and remember to place more emphasis on the brand story, not the product itself.
- Ensure you share the best stories on YouTube and other social networks for outreach.
- Incorporate art to the snaps – like Halloween masks, or fancy dresses.
- Introduce your products in different ways to avoid being monotonous or predictable. Go for the most effective techniques.
- Reach out to popular Snapchat influencers and let them use your account to encourage them to endorse your product and guide customers.
- You should always pay attention to the results and review them for further improvements. Monitor the number of followers, their actions and responses, the number of views, and find out the content with the most rate of conversion.
What Makes Snapchat A Good Monetization Channel?
- According to Snapchat, there are 210 million snaps created every day and as users log in multiple times per day and share photos and videos, the engagement rates on Snapchat are constantly increasing.
- Since only about 5% of businesses are on the platform and have started using it as a marketing platform), competition is quite low.
- There are about 18 billion daily video views on Snapchat, and about 10% of the users’ report using the app to follow businesses.
- Every week, about 50% of Snapchatters watch videos in the Discover section.
- Snapchat users appreciate Influencer Marketing. 4 out of 10 Snapchat users are inclined to get a product on the recommendations of an influencer.
- According to Statista, it was the most used social network by 13-17-year-olds in the USA by September 2019. Snapchat gives a perfect opportunity to earn money from this target audience
Marketing on social media is steadily progressing. It was formerly just for fun and entertainment. However, that’s not the case anymore as more of these platforms have been heavily monetized and become sources of passive income. And, Snapchat is not an exception.
So, if you have a Snapchat account with a good number of followers you can follow the guides I listed above to also make money from Snapchat.