Although marketers spend 500% more to court millennials than other age brackets, their investment on Snapchat has been minimal. Just 5% of brands in L2’s Digital IQ Index: Department Stores have been advertising on Snapchat and only 17 of 57 brands maintain active accounts.
Selfridges, however, has been especially active on the platform and posts 95 times per week – five times the Index average. The retailer experiments with a variety of posts: Fashion Week snaps, custom filters, collaborations with partner brands, branded Snap stories, advertising pop-ups and events, and encouraging in-store activation of Snapchat stickers. This approach to content mimics its user base, 65% of which uploads content daily.
Unlike Instagram, Snapchat provides no measure of engagement — like “likes” on Facebook and Instagram – and brands are unable to calculate how many times their videos were viewed. This may make some brands uneasy, and some have even devised ways to organically calculate engagement (e.g. encouraging users to take a snapshot of their snap). However, overall Snapchat statistics are in favor of investing on the platform: Snapchat ads are viewed up to one million times per day, and 65% of its users upload content daily.
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