How to Make Money on Snapchat
How to Make Money on Snapchat: 6 Proven Ways to Earn with Snap
Are you on Snapchat? Did you know that you can make money on Snapchat? Here is our comprehensive guide on how to make money on Snapchat.
How to Make Money on Snapchat (Social Media Income Guide)
Today, social media has become a part of our everyday lives. Social media has revolutionized the business world. People now can easily connect with their prospects and make money on social media platforms.
Snapchat is one of the fastest-growing social media platforms. In this article, we will delve on how to make money on Snapchat.
Developed by Bob Murthy and Evan Spiegel in 2011, Snapchat allows its users to share a story, photos, and videos with their followers. One unique aspect of this social media channel is that its messages disappear after the intended audience person sees it.
A Snapshot story can also disappear after 24 hours. Snapchat enables its users to make money with a private Snapchat since they can share audacious and explicit images confidently with a Snapchat Premium account.
With Snapchat, you can do selfies, emojis, masks, and filters. You can also use the app to a video call. Snapchat has a discover section where 16 different social media outlets such as MTV, VOX, and BuzzFeed publish their content and news from their websites as snaps. Also, it allows the presentation materials in non-standard formats.
Snapchat has been around for only eight years only, but the daily active users of Snapchat are now over 200 million.
According to a study conducted in 2019, Snapchat had more daily video views than Facebook and more active daily users than Twitter.
Snapchat keeps rolling out new features to appeal mostly to the millennial generation.
How Snapchat Works
Well, put simply, Snapchat allows you to communicate via pictures and videos, sending messages to your friends in a visual format.
Snapchat also more recently introduced a ‘chat’ feature through which users are not required to send any visual information and can communicate via text, as they would with other platforms.
The difference between Snapchat and other social media platforms, the difference that set it apart and has fueled its rapid increase in popularity, is the these photos and videos can only be viewed for a limited time.
After a few seconds, they disappear and can’t be reopened.
Snapchat: An unexpected phenomenon on the web
Snapchat is a mobile app created by Bob Murthy and Evan Spiegel developed in 2011 to give the users the opportunity to share images and videos.
It is unique in its spec to delete the message after seeing it. That’s why recipients cannot save or share it. Snapchat allows users to share weird and audacious images with complete confidence privacy.
This app is also amusing. You can do more than just selfies. You can add emoji, masks or filters. It has the Discover section, where 16 solid media outlets (VOX, MTV, BuzzFeed, etc.) publish their news and other content from their websites as snaps. It permits the presentation material in a non-standard format. You can also make video calls via Snapchat.
What makes Snapchat a good monetization channel?
- The engagement rates are high on Snapchat, as users share photos and videos actively and log in multiple times per day.
- As very few businesses have discovered Snapchat and started using it for marketing purposes, competition is very low.
- About 10% of Snapchat users report using the app to follow businesses, while 42% report using the app for entertainment.
- About 50% of Snapchatters watch videos in the Discover section every week.
- Snapchat users are open to Influencer Marketing. 4 out of 10
- Snapchat users report discovering a product or service thanks to the word-of-mouth recommendations of an influencer.
- Snapchat has incredible earning potential for targeting generation Z, as this age group prevails on the app.
- The app seems to be cut out for holding contests and sharing coupons.
However, you should collect the contact database before implementing the platform into your marketing. How does Snapchat monetize your activities? You can raise money from Snap Ads, sponsored lens filters, geofilters, sports partnerships and discover. Now, it’s time for details on types of earnings.
Ways to get money
The ways to make money on Snapchat are a little different from the other social media platforms, largely due to a difference in how messages are sent on it.
For example, with something like Facebook, you can post something that aims to make money and know that it will be there until it’s bumped down by something else.
With Snapchat though, you have to use to your advantage the fact that messages are only viewable for a short period of time.
This means things that can grab attention quickly are probably going to do better than the more slow-burn method of other platforms.
This business model is based on the app’s ability to analyze the audience’s desires, to select the most engaging moments and to allow data use for getting profits. They use the psychological method that suggests temporary things are the most valuable. Sure, you’d like to consider how to monetize Snapchat in depth.
1. Snap Ads
More than 500,000 users look through ads during the day. It’s a relatively low amount (compared to Facebook Ads, for example to the), but you can deliver your message exactly to the audience you are interested in with Snap Ads.
There is a convenient ads manager inside Snapchat. Note, that it’s not accessible in worldwide. If your country is restricted, change the location on your phone via Hola Fake GPS location, for example.
The app supports certain advertising formats:
- Snap Ad to watch, listen or do something else.
- Story Ad as a creative for Discover Feed (it is good for brand or mass media promotion).
- Filter – the images that overlap via carousel.
You can track and optimize the results after the campaign has been launched.
So, how do you monetize Snapchat with geofilters? You can make a free geofilter for a public place that is crucial to you and your niche (parks, cities, neighborhoods, etc.). It really works because users like sharing filters, even branded filters. You should create a geofilter when running an exclusive event or opening a new store.
How do you launch geofilter? Just take a picture or a short video, swipe to view the accessible filters and choose the appropriate one. By the way, there are two types of filters: personal and business. Do you intend to create business geofilter? Okay, but the right to put in any logo, trademarks, etc. is required. It is impossible to use URLs, phone numbers or contacts.
Don’t forget to customize your geofilter with the help of Snapchat’s templates in Adobe Photoshop and Illustrator formats, or any service, and then test it with different images. Then you download your geofilter, set the time and date, choose a location, pay for the filter and confirm your order. The app offers some basic reports to measure your geofilters’ effectiveness.
3. Sponsored lenses and posts
This way of promotion is unique. The lenses of the user is getting more amusing and tender with only one tap, that’s why they adore them. You can offer your branded lenses but its creation is a prerogative of Snapchat. All you have to do is explain your goals and they’ll make a design with your logo or product. The audience will use your lenses and share them with other users. Getting a sponsored lense from a friend is like to getting a direct recommendation.
More than a hundred sponsored campaigns are currently working in Snapchat. Sony Pictures, Universal Studios, Pixar, Michael Kors, Starbucks and L’Oreal use brand lenses to increase their rates and sales. Millward Brown Company revealed the sponsored lenses to be more memorable and sure to increase sales faster than other channels.
Snapchat also displays your sponsored stories in the special section to make user see them by default while the user is looking through their friends’ stories. Your stories should be rather catchy to make sure you get their attention.
How else can you make money with Snapchat?
This network is also a good tool for affiliate business. For this purpose, you should ask everybody to follow your account and to activate Snapchat’s option to find friends nearby. Use your own contact database to invite the followers to Snapchat.
For example, you can share your login via social media with a call-to-action, arrange the contest and write an article about it for your blog. You can also ask the authorities to promote your snapcode.
Then, you can start writing exciting content, offer presents and discount flight tickets, introduce a new product, inform about special events and show behind-the-scenes photos/videos. You can promote more than just mobile website, (Jetradar and Hotellook both are optimized for the mobile traffic) but you can also send people to iOS and Android apps.
Building a Following
Add your friends and personal contacts. Whether you’ve just downloaded Snapchat or you’re a longtime user who’s looking to expand your reach, the first step is to start accumulating followers who will see your stories. Send a follow request to your friends, family members and everyone you’re connected with on other social media platforms. These people will provide your core audience.
- You can discover who among your acquaintances is on Snapchat by using the “Add From Contacts” option.
- Have your close friends spread your info around to everyone they know as a favor to you.
Make as many connections as you can.
After adding friends and family, you can concentrate on convincing other users to follow you. Begin following friends of friends, local celebrities and entertainers and any other accounts that you like. Chances are, they’ll give you a follow in return.
- Post your snapcode publicly. A snapcode is a one-of-a-kind series of symbols that other users can simply scan with theirphones to begin following you.
- Network on social media message boards. You and other members will be able to exchange info, follow one another and help your respective stats up to become more visible.
Get shout-outs from users with lots of followers.
In some cases, you may be able to appeal to influential users to share your username or give you a verbal shout-out in one of their snaps. This message will be delivered to a much wider audience, and their devoted followers will be encouraged to check out your account. Cross-promotion is a great opportunity for everyone to secure new followers.
- You may be expected to pay for shout-outs from private companies and high-profile individuals.
- Message another user directly or mention them in a snap to bring your account to their attention.
Use your other social media accounts to advertise.
Since the user discovery feature isn’t very sophisticated, it can be difficult to get your name out there. This is where platforms like Facebook, Twitter and Instagram will come in handy. Take advantage of your contact base on these sites by sharing your Snapchat info and teasing the kinds of exclusive content they’ll be able to find there.
- Display your Snapcode as a temporary profile picture to let the people on your friends list know how they can follow you.
- It will help to reserve your Snapchat for specialized posts that your followers won’t be able to see anywhere else.
Your Snapchat stories won’t leave a lasting impression if they’re no different from anyone else’s. Instead of simply sharing selfies or broadcasting photos of your lunch, highlight some unique characteristic or mode of presentation that will help you stand out. More people will be motivated to follow you if they can’t get your type of content anywhere else.
Give your account a distinct theme. Your snaps might be centered around documenting thrill-seeking adventures, touring local eateries or even performing short comedy sketches.
Try not to make the same type of post all the time. This can quickly get repetitive. Always be looking for unusual or exciting moments to share.
Strive to be the only person doing what you do on the app.
Keep your content accessible.
This may be the most important criteria of all. No one wants to feel like they’re being sold something, and if you’re not careful your users will catch onto the fact that you’re using your account to do the bidding of other companies. The snaps you post to your story should be personalized, authentic and come from a place of genuine interest.
- Package your stories in creative, engaging ways that allow you to relate to your followers’ preferences.
- Give your Snapchat followers a more interactive experience by asking questions, posting surveys and urging them to share and post their own responses to your stories.
Include a link to your website.
New advances in social media technology have made it possible for users to embed URL links through apps like Emoticode. Downloading one of these programs will allow you to share the online address of your personal or business website to your followers. It will be much easier to get new eyes on your page if people aren’t forced to open a separate browser to find it.
- If you make a living by selling a particular product or service, be sure to display a link to your online store so that interested followers know where to go to make purchases.
Sell directly through Snapchat.
Teaming Emoticode with a money-processing program like Snapcash can make it possible to turn your account into an entertainment hub and merch marketplace in one. Use your snaps to advertise specialty products, services or offers, then process the payments straight from your buyers. With the right marketing, you can watch your personal brand become a public business.
- Managing your product sales through Snapcash can help you keep up with order details without the need to go through other programs.
- Make sure you’ve taken the proper steps to secure your identity and payment options before exposing your financial info on Snapchat (or any other apps, for that matter).
Buy your own Snapchat filter.
Companies like Geofilter and Confetti now offer a unique service that lets users design and upload their own custom Snapchat filters. All you have to do is create a filter that represents your business, brand or image, then pay a small fee to have it published. Once it’s been approved, other users will be able to add the filter to their snaps, garnering your account more attention.
- Each time another user applies your custom filter, it will be like free advertising.
- Use your filters to get the word out about upcoming sales, events and appearances.
How much money can I make with Snapchat?
With Snapchat, you can make anything from a few dollars to literally millions of dollars in sales.
Obviously, the top level of earnings is only going to be open to massive influencers or major companies.
But even if you’re not at the “massive cosmetics company” end of the scale, you can still use Snapchat to make serious money.
Affiliate marketing, for example, can generate tens of thousands of dollars in commission payments.
Sure, it will take some time to build your audience up to that level. But once you do, the pay off can be huge – literally.
Which Snapchat users make the most money?
It’s hard to find information online on who the major Snapchat money makers are. Some older articles mention “Snapchat stars” making $100,000 per week but that amount would almost certainly have risen by now.
What most people assume is that those who make the most money with this app are the same people who make the most money on other platforms, like Instagram.
Kylie Jenner, for example, makes over $1.2 million per sponsored Instagram post, so we can assume she makes a similarly massive amount on Snapchat.
That said, this is the same person who, with one tweet, wiped about $1.3 billion off Snapchat’s market value, so maybe they’re less inclined to help her out these days.
Tips on how to make money on Snapchat
So we’ve run through the different ways for how to make money on Snapchat. Now you’re wondering how to actually put them into action.
Well, there are some tips you can use to maximize your earning potential with Snapchat:
Increase your audience
This may sound obvious, but the bigger your following, the more money you’ll make. So, logically, it’s a good idea when starting out to focus on building your audience as much as possible.
(We’ll go through some expert tips on how to do this below.)
The more consistent you are, the more people will regularly check back to see what your latest Snap is about.
If they know to expect something epic from you every day, for example, you may start to build a following of people keeping an eye out for what each day’s post is going to be.
And the more views you have each day, the more chances you have to make money from your audience!
People are far more savvy these days in terms of knowing when they’re getting a sales pitch. Marketing ploys that used to work are now ignored by a generation that’s used to having ads thrown at them on every single platform they visit.
This means that one of the best marketing tricks you can use to make money on Snapchat is to be as genuine as possible.
Sure, you may be trying to make a sale and that’s fine. But make sure you actually believe in what you’re trying to sell instead of simply doing whatever you can to make a buck.
Having a following is key on platforms like Snapchat and the best way to turn off your audience is for them to constantly feel like they’re having ads thrown in their faces.
This makes it important to strike a balance between making a dollar and making a follower.