It was bad enough when your mom joined Snapchat to see what all the fuss was about. Now your bank wants to send you snaps, too.
Banks have been considering different uses for Snapchat, including marketing to job seekers, addressing questions from customers and generally trying to be more visible in a social media channel more heavily used by younger people. They are still trying to figure out what works best, so the approach is still cautious and experimental. But consumers, particularly Snapchat’s largely millennial user base, have a high bar for organic content, analysts say. If the material isn’t sufficiently compelling, a user may completely shut out a brand.
“The process of adding someone on Snapchat is so cumbersome,” said Mike Metzler, director of client strategy at Delmondo, a company that manages influencer campaigns and produces Snapchat content for major consumer brands, including Mastercard. “If you’re a bank and you get someone to add you and make crappy content it’s a risk.”
More in Marketing
‘Predictability has become a luxury’: As the Iran war drags on, ad markets are starting to sweat
Whatever hope remained that this would be a short war is fading. And with it, the assumption that the economic damage would be too.
Walmart-Vizio’s CTV measurement faces incrementality hurdle
Walmart’s Vizio deal promises closed-loop CTV measurement, but brands are waiting for data clean rooms and proof of incrementality.
How E.l.f. Beauty is using AI to alleviate the workload of its workforce
E.l.f. Beauty’s chief digital officer, Ekta Chopra, shared the four pillars that guide the beauty brand’s approach to AI implementation.