Are you self-aware? Don’t answer that yet. Did you know that on average people spend nearly 2 hours every day on social media and that today alone, 3.2 billion images will be shared on social media? Snapchat is one of the mediums through which these 3.2 billion pictures and videos will be shared. Who benefits from all these, just Snapchat? You should too.
There are two types of people on Snapchat – those who are on Snapchat for fun and those who are on the platform in a way that benefits them (those who ask themselves, and others, how to make money on Snapchat), but to be on Snapchat in a way that benefits you, you have to be self-aware. So, what does it mean to be self-aware?
Self-awareness is basically grabbing your thought process by the neck and observing how certain things work. Understanding and taking control of some of those processes is what self-awareness is about.
Self-awareness without action is pointless as it is like riding a bicycle around the equator – you just keep on going infinitely. Self-awareness should be followed by “how?” or “what,” and in this case, it is a how.
Self-awareness is in three levels, with the first level being inquisitiveness about what you are doing. With the human mind basically programmed by its creator to be on autopilot to help it cope with the struggles of life, a shocker that jolts your Snapchat anyhow ness back to money-making reality is needed.
This article explores the question of how to make money from Snapchat in 2021. I hope it jolts you.
Table of contents
Introduction
To make money through any medium, there is work to be done, much less through social media. Thomas Edison and Carrie Wilkerson seem to agree on the same thing when Thomas said “Opportunity is missed by most people because it is dressed in overalls and looks like work” and Carrie said, “the longer you’re not taking action, the more money you’re losing.” Most times, when something does not turn out the way we would like it to be, we just have to try again.
This article discusses multiple ways how to make money from Snapchat. Some of these ways may not work as expected for some people, but they will work for some others. If one doesn’t work for you, try another. On the topic of trying another, I’ll be recounting the story of a wire bagel maker called Marlin Steel.
The wire bagel maker
Selling wire bagel baskets, Marlin Steel made over $800,000 in 2003, but there was trouble. The trouble was that competition in the market of bagel baskets was on the rise, and Chinese competitors were attacking this market furiously, like the Spartan conquest of Messenia in circa 660.
Unlike Marlin Steel, their Chinese competitors sold their bagel baskets for $6 a piece, which was half of what Marlin Steel sold theirs for.
Customers of Marlin steel were switching brands to save $200 per store, and Marlin would never be able to match its Chinese competitors on price.
There were no barriers to keep new global competitors at bay or prevent price-conscious customers from straying, so Marlin Steel had to build a radical business plan or risk death.
The transition began in 2003 when Marlin Steel received a sales call from an engineer at Boeing who wanted 20 wire baskets.
The Boeing engineer, who had seen a Marlin steel ad in the Thomas Register, a pre-Internet manufacturing directory, wanted baskets to hold airplane parts and move them around the factory. He wanted them fast, and he wanted them made in a way Marlin wasn’t used to and with astonishing precision.
The Boeing engineer needed the basket’s size to be within a 64th of an inch of his specifications.
Marlin steel owner Drew Greenblatt told the engineer that such precision would cost him $24 a basket. The engineer didn’t seem to mind. Drew Greenblatt thought to himself “Trying to sell a basket for $12, the bagel shops refuse to say, ‘I’m not paying more than $6, and here’s a guy who is ready to pay the outrageous sum of $24 in a moment. He was price insensitive. That eureka moment led to the company’s rebirth.
After the Boeing job, Drew Greenblatt did a little poking around, and he made two discoveries. One was that factories have a huge appetite for wire baskets which they use to stage parts for assembly, and a single big factory has thousands of them. Secondly, factories that need wire baskets outnumbered the number of bagel shops by almost 100:1.
With this insight and action plan in line with it, Marlin steel transitioned from making wire bagel baskets for customers like Bruegger’s and Einstein Bros. to making custom baskets, hooks, and precision sheet-metal products for customers like Boeing, Caterpillar, GE, Merck, and Toyota.
The point of this story is to remind you that there is always more than one way to make money. If this doesn’t work, that will.
What is Snapchat?
Snapchat, an app that was designed by Evan Spiegel, Reggie Brown, and Bobby Murphy in 2011, was originally designed to allow users to upload fleeting content. Reggie Brown came up with the idea of a social media app that enabled users to post photos and videos that disappeared from the site after a few moments.
Brown reportedly approached Spiegel with the idea, and both agreed on the notion of a social media platform modeled on disappearing content was good. Bobby Murphy wrote the code used to build the app.
Evan Spiegel, in his first-ever blog post, said, “…Snapchat isn’t about capturing the traditional Kodak moment. It’s about communicating with the full range of human emotion — not just what appears to be pretty or perfect. Like when I think I’m good at imitating the face of a star-nosed mole, or if I want to show my friend the girl I have a crush on (it would be awkward if that got around), and when I’m away at college and miss my Mom or my friends.
We’re building a photo app that doesn’t conform to unrealistic notions of beauty or perfection but rather creates a space to be funny, honest, or whatever else you might feel like at the moment you take and share a Snap.”
Since its inception, Snapchat has added features like videos, stories, and chat to its list of features, and they’re features that you will be taking advantage of to make money. How to make money on Snapchat is not something far-fetched but through things that already exist on the platform.
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Things you may not know about Snapchat
- Snapchat has over 220 million users? This makes it a huge market ready to get tapped.
- 70% of Snapchat users use the app every day.
- 61% of Snapchat users are female.
- 4 out of 10 users say they discovered a new brand through posts and endorsements by celebrities.
- In the US, 90% of all 13-24-year-olds use Snapchat.
How to make money on Snapchat
#1 – Through the promotion of affiliate products
Snapchat is an excellent platform to do affiliate marketing? Invite as many followers as possible to follow your account on Snapchat. If you have personally used a product and liked it, you can let your followers know about it. Share extensive product reviews showing the benefits of using these products on your blog.
If you have a vast audience, you can make money with affiliate marketing by recommending any product to your followers and getting a percentage or commission from clicks or sales.
You can become an Amazon Associate and promote products of your choice to earn commissions on them. The best and most effective way of promoting affiliate products is through writing reviews.
#2 – Sell advertising space
If you have a large following, you can sell advertising space to companies who want to advertise their products on your page. Some companies are willing to pay huge amounts of money to ensure that they get a place to showcase their products or services. Being paid before advertising and click rates are one of the few ways through which you could get paid.
#3 – Sponsored posts
Snapchat allows you to share sponsored posts that promote your business products and services. Snapchat gives its users a chance to create a business page where you can share more information about what you do. You can use this platform to find prospects and increase your customer base.
Let your audience know how they will benefit. You can use videos to demonstrate to your followers the advantage of using your products. Implement the ideas that are working.
#4 – Use filters
When you want to create a filter, you take a photo or a short video and then swipe to view all the filters that you can access and pick the appropriate one. Geofilters come in two, including personal and business. When creating a business geofilter, then you must include trademarks or logos. It’s not possible to use phone numbers, contacts, or URLs when sharing a geofilter. With a large following, you can monetize geofilters to publicize events.
#5 – Promote great content
With a plethora of tools that can be used to design content, quality content can be created by you and others and promoted to achieve good outcomes. With an average attention span of 12 seconds, you have very little time to deliver great content to your audience, so give them the best.
Conclusion
Building an audience on Snapchat takes a lot of time and hard work. If you stay determined and creative, you can build a niche audience to promote products and services that are within that niche and beyond and thus make money from Snapchat in the process.
See also
