Top Retail News & Fun Fact Friday: Snapchat! The new frontier

Jun, 17 2016

2-snapcode-to-special-discover-channel

"Bloomberg reported last week that Snapchat had reached 150 million daily users, surpassing Twitter's 140 million daily users.

 

Marketers are very aware of the importance of mobile and social marketing as a part of today’s retail landscape. Engaging customers on various channels and helping them integrate your brand into their life is the key for longer lasting, high value relationships. The most recent social tool marketers are testing? Snapchat!

In this AdAge Daily article based off of eMarketer research, they show why marketers who have yet to get serious on Snapchat may want to consider doing so, and soon. The ephemeral messaging platform is experiencing a surge in growth - here are some stand out statistics:

  • Snapchat has reached 150 million daily users, surpassing Twitter's 140 million daily users.
  • Snapchat's U.S. monthly user base will grow 27.2% this year to 58.6 million users, a growth rate eMarketer said exceeds that of messaging apps in the U.S., which will grow about 16%.
  • Twitter will have 56.8 million monthly users in the U.S. this year and Pinterest will have 54.6 million users
  • By2020, Snapchat will add 26.9 million users, nearly double that of Twitter and Pinterest

Here eMarketer breaks down these statistics & predictions visually:

eMarketer_US_Snapchat_Users_and_Penetration_20142020_21131120160608

How can you leverage this?

-

First – what is Snapchat? As told by a millennial…

Snapchat delights its customers. Period.

When it started out, it was a fun way to include people in your day and message people directly. You could add words & draw on it to make sharing your day fun and exciting. As Snapchat has evolved and added new features, I can only report it as: delightful.

From location filters to face filters – consumers are constantly delighted by the new things added to Snapchat every day. Most recently, they made it so that if you turn your phone to the side, you can have more than one person with the filter on their face - and so, “hey! be two puppies with me” replaced “hey! let’s take a selfie” at parties.

IMG_0724

-

5 Ways Retail Marketers Can Use Snapchat

DigDay, AdAge, and Social Media Examiner all offer great ideas in the links provided. Here are our Top picks:

1. Create delightful in-store experiences! Delight customers and help them engage with you on their mobile by offering in-store filters, promotions, and perks! At one of our AgilOne dinners, clients shared how they have engaged customers in-store and how Snapchat filters delivered 97% more engagements than on Facebook, Pinterest and Twitter combined.

2. Partner With Influencers. You are most likely already doing campaigns for twitter and instagram with influencers - or are at least familiar with the concept. Having a celebrity endorse your product through their own personal platform is effective! But, it's becoming a little over done. Consumers now can tell that influencers are being paid for their posts. Snapchat offers a new approach! Most consumers follow celebrities on Snapchat and having that celebrity use your product makes the endorsement feel more personal and organic.

3. Take People Behind the Curtain & Deliver Private Content. You can also use Snapchat to provide special content to your audience that they might not receive on other digital platforms. Think of something unique to surprise your community of followers. Fashion brands like Rebecca Minkoff and Michael Kors have used Snapchat to debut their collections to followers before they hit the runway.

4. Provide Access to Live Events. Snapchat is perfect for real-time social media marketing because it can give the audience direct access to live events. You can use it for product launches, trade shows or one-of-a-kind events like the 1,000th customer to shop in your store. Snapchat gets your audience excited because you’re providing a different, more authentic view of what’s going on at the event.

 5. In-store only coupons with a surprise offer. Retailers can use Snapchat to send consumers a coupon snap. This snap could be for 10%, 25% or 100% off an item -- the amount unknown to the user -- and the perishable nature of Snapchat requires the user to open the snap at the register (or burn their lone replay) in order to redeem the offer.

Bonus:

In our “hot retail news” this week there’s an interesting arctile on how Twitter is looking to continue their growth by leveraging it’s user base for brand studies – make sure to check it out! 


 

Now that you have the steps to be a segmentation master, make sure to browse the top headlines for this week!

Top Retail News & Insights

Every Friday we post top trending retail news for you and are now introducing a fun fact to help you benchmark your marketing efforts against peers. Get the articles here.

1. AdAge: Twitter Turns 12,000 Users Into Quick-Research Panel for Marketers

The company, whose stock has fallen nearly 36% since its IPO, has been aggressively ramping up its advertising efforts.

"We realized the opportunity to tap into our engaged and influential audience -- not only to conduct powerful research, but also to link their responses to the wealth of behavioral information we observe about these users, such as what they tweet, which tweets they like, and who they follow," Mr. Perzyk said. "This puts us in a unique position to address advertisers' queries quickly and in a multidimensional way that other publishers cannot."


2. WWD: Nike, Zara and H&M Garner Top Spots in Brand Value Ranking

Topping the list of the top 10 most valuable luxury brands were Louis Vuitton at number one followed by Hermès and Gucci. The top 10 most valuable apparel brands had Nike at number one, which was followed by Zara and H&M.

Some of the notable findings of the report include: Amazon clocking the largest gain with a 59 percent year-over-year increase, which was followed by Facebook and Starbucks. And in the rankings, Facebook leapt seven places to secure itself as a top 10 brand at number five. And apparel was the fastest-growing category with a 14 percent year-over-year gain to $114 billion in brand value for the companies in the top 100.


3. WWD: Tony King: Forget ‘E-commerce,’ Just Call It ‘Commerce’

For Tony King, founder and creative director at King & Partners, the challenge for many companies is to create a thoughtfully integrated online and in-store presence that strengthens the attributes of its brand or brands, attracts new consumers and nurtures existing ones.

King, who is considered an early pioneer of luxury e-commerce (having launched gucci.com in 2000), works with brands such as Kenneth Cole, Carolina Herrera, Elie Tahari, Mulberry and Mario Testino, among many others, to develop digital flagship sites with fully integrated e-commerce platforms. Here, King discusses digital commerce, the importance of narratives and why the moment a shopper becomes a buyer is so critical.


4. Business 2 Community: 3 Ways to Optimize Retail Marketing Emails [Infographic]

According to the report, “Email read lengths vary by device, but less than three seconds was the overwhelming majority across Kindle Fire, 64.5%; iPhone 53.9%; iPad, 42.4%; Desktop, 48.9%; Android Tablet, 48.8%; and Android phones, 50.2%.”

Email marketing has the potential to produce really great results, with an average ROI of $44.25 for every $1 spent (ExactTarget). And according to Hubspot, companies using email to nurture leads generate 50% more sales-ready leads and at 33% lower cost. And nurtured leads, on average, produce a 20% increase in sales opportunities compared to non-nurtured leads. This of course is if your emails are read. So, what’s the trick to getting a prospect want to learn more and pay attention to your offer in 3 seconds or less?

For retailers looking to ramp up their email marketing, this infographic shows three places they can get started…


5. Which 50: Digital Retail Marketing Spend To Hit $362B By 2020 – Study

Spending by brands on digital retail marketing will more than double over the next four years, according to research outfit Juniper Research.

In its study called “Digital Retail Marketing: Coupons, Advertising & Consumer Engagement 2016-2020”, the company argues that spending will increase from $US174 billion in 2015 to $US 362 billion by the end of the decade. However, adblocking technology is likely to impact almost ten per cent of global digital ad revenues by 2020.

It also found that, while the digital retail marketing industry will continue to be dominated by advertising revenues, coupon contributions will see strong growth — driven in part by the rise of Bluetooth beacons.


 

 

Please feel free to leave comments below to share in this digital buyer theme - We want to hear from you!