Snapchat pursues mobile startups to advertise on it
Snapchat is facing advertising business issue at the moment and trying hard to overcome it. Snapchat has launched a program Snap Accelerate to attract the mobile start-ups, which are looking to grow their business, to advertise on it. Facebook had done the same in 2012, when it was in the same situation. Snapchat is mainly targeting commerce, entertainment and gaming startups that are looking for direct responses.
According to the program, mobile app startups will receive free credits for advertising, early access of new ad products, free branded filter for a certain period and many other benefits.
Snap Accelerate program has three tiers depending upon the company size, growth rate and sustainability, which are:
1. Kickstart: The mobile startup will receive up-to $20,000 of benefits including advertising credit and creation cost. Plus, free branded filter for 3 months.
2. Sprint: The company will receive up-to $50,000 of benefits including advertising credit and creation cost. Free branded filter for 6 months. Free education events and technical support.
3. Scale: The company will receive up-to $100,000 of benefits including advertising credit and creation cost. Free branded filter for 12 months. Free education and private networking events. Business & technical support.
Snapchat is trying to minimize the barriers for advertisers as much as possible. Now, there will be no spending requirements contrary to earlier.
Snapchat has launched an advertising API so that advertisers can buy Snap Ads through third party ad tools as well. Now, there are self-serve tools for advertisers to buy ads and create vertical video ads.
The idea is if mobile startups grow, they will have more money to advertise on Snapchat and it will also encourage other companies to advertise on Snapchat.
Good luck Snapchat.