Snapchat adds curated snap function and cash incentive for users
Snapchat has launched a new entertainment platform for user-generated content. The Spotlight function will curate posts from the Snapchat community all in one place, and will become tailored to each user over time based on their preferences and favourites.
Similar to TikTok, Snapchat will incentivise users to share content by giving them the opportunity to earn money from posts, based on ranks. The platform says it will distribute over USD $1million every day to users who create the top Snaps on Spotlight.
Snaps are ranked based on how people engage with them, how long they’re viewed and if people favourite them. Earnings are determined based on unique views.
According to snapchat more than four billion snaps are created on its platform each day.
The platform’s local entity, Snap Aus, reported revenue of A$50.87 million, in 2019. In June the platform launched dynamic product ads (DPAs) in Australia, citing the rise of e-commerce during COVID-19 lockdowns as the reason for the launch.
This additional feature allows advertisers to create Snapchat ads in real time, based on product catalogues, and serve them in multiple international markets.
It also recently launched Snap Connect: advanced courses on Direct Response (DR) advertising on Snapchat.
Snap Connect enables advertisers to dive deeper into education and strategies for DR advertising goals, formats, and opportunities on Snapchat.
The first Snap Connect modules centre on DR advertising for the mobile gaming, apps, and e-commerce verticals.
Snapchat also launched its first global B2B marketing campaign earlier this year. The inaugural marketing campaign was positioned around ‘The Snapchat Generation’.
According to Snapchat it has 249 million daily active users, an increase of 39 million or 18% year-on-year and reaches over 6 million people in Australia, including 90% of all 18-24 year olds and 85% of 13-24 year olds.
The Spotlight function will be open to users in the Australia, New Zealand, Canada, the US, the UK, Ireland, Norway, Sweden, Denmark, Germany, and France with more countries to come soon.
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Olivia Kruimel is the managing editor at Mumbrella. She has more than 15 years of experience in journalism, communications and marketing. Her journalism career began at Fairfax Media (now part of Nine) and includes various B2B publications such as B&T, Travel Today and ALB. As a marketer Olivia has worked for Standard Chartered and various global law firms.
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