Snapchat has shared some new data on the performance of e-commerce brands in the app, and how Snap ads can help to drive purchase activity.
In order to glean more insight on this element, Snapchat recently commissioned Triple Whale to conduct a study of 20,000 ecommerce advertisers, with a cumulative $3 billion ad spend across platforms, in order to get a better understanding of how Snap ads are performing for online retailers.
The results?
As per Snap:
“The research reveals that despite being a smaller platform by spend share, Snapchat achieved a 7.5% ROAS improvement while most platforms declined. And, for this cohort of advertisers, Snapchat had the lowest CPA across all platforms.”
So better bang for your buck than other apps, despite Snap being a smaller platform, in terms of overall reach.
The data also showed that apparel advertisers saw the highest ROAS across platforms, with visual storytelling being the key driver of Snapchat engagement.
Expanded Snap data further indicates that:
- 77% of Snapchatters agree that visual search helps find apparel items faster and easier, compared to only 50% of non-Snapchatters.
- Over 80% of Snapchatters say that social is a primary way to keep up with the latest fashion trends.
So if you’re looking to sell fashion items, Snapchat should be a key consideration, especially if you’re looking to reach a younger audience.
Though presentation remains key, and you do need to familiarize yourself with what drives engagement on Snap specifically, in order to maximize promotional performance.
Or you can look to partner with a Snap creator, and use their platform nous to drive more responsive, engaging campaigns.
However you go about it, the data shows that e-commerce brands, and fashion brands in particular, should be considering Snapchat promotions in their content mix.
Worth factoring into your end-of-year campaign planning.
