Snapchat recently introduced ‘Snapchat Stories,’ which may eventually lead to monetization for the company from paid advertisements, according to TechCrunch. The new feature provides businesses the ability to timeline snaps into stories to more realistically represent their brand and engage with followers. Furthermore, Snapchat recently introduced its first commercial that links directly to what is advertised; an ad featuring a band links directly to their music for purchase in the iTunes store. However, CEO Evan Spiegel claims the commercials were released to showcase and experiment with the new Snapchat Stories, not to test how paid ads would function. Nonetheless, a click-to-buy feature for brands to pay for may be an added feature down the road.
Snapchat has gained a lot of popularity in the app world with its user base responsible for sending 350 million snaps a day. Even if the app is used primarily for sending goofy 3 second pictures to friends, larger brands are jumping on board to develop new, fun ways to reach mobile users. Therefore, Snapchat could be the next mobile advertisement opportunity. While details on Snapchat’s plans for paid ads are limited, the company appears to be moving in the direction of monetization, so online marketers should be aware. In the meantime, utilize Snapchat as an additional branding opportunity, particularly Snapchat Stories, to give consumers more insight into your business and stimulate engagement.