Last week, Snapchat announced the roll out of ‘Snap Accelerate’, a new program that will encourage start-ups to advertise on the platform by offering them exclusive benefits. These range from having early access to new Snap ad products and tools, to creative service credits for brands to purchase ads and ad creation.
Aimed at start-ups in the commerce, entertainment and gaming industries that operate their own mobile apps, the Snap Accelerate program will give participators access to Snap’s Marketing API, as well as up to $20,000, $50,000 or $100,000 of features, depending on the tier their business’s size and stage of growth is relevant to.
The tiers are titled Kickstart, Scale and Sprint, and their benefits include media coupons, priority business and technical support, invitations to Snap education events, and a branded filter over the business HQ for either 3 months, 6 months, or a year. For more information on the three tiers, check out the original Snap Accelerate announcement.
If accepted onto the program, the participating business will be credited with money which will help them to purchase ads on the platform, as well as have access to other exclusive features. However, a Snapchat spokesperson has said that participating start-ups won’t have the same minimum spending requirements as other businesses using Snap’s advertising features.
The TJM take: As Marketing Land explains in their article, growing concerns over the viability of Snapchat’s advertising business is not too dissimilar to similar concerns raised over Facebook’s mobile ad business in 2012. As their article points out, by appealing to the same types of businesses that flocked to Facebook’s mobile app-install ads in 2012 and 2013, it’s likely Snap are hoping for a similar success; but will they find it, however?
With Instagram creating their own version of Snapchat’s most popular features (such as ‘Stories’ and face filters), it’s no surprise that Instagram Stories alone was reported to have more users than Snapchat back in April; and we can’t see this changing anytime soon.
This is a good idea for start-ups with a limited budget, but with Snapchat’s popularity continuing to wane, we’re unsure of how successful it will be.
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