"When you look at me, I can tell exactly what you're feeling". Have you ever heard this phrase? In love, happy, bored or depressed. Your eyes, they say, are the mirror of your heart and soul. I couldn't agree more. And so do marketers, as one of the main success metrics applied in the advertising space is the view.
Last week I came across a great article, published in Digiday and called: Snapchat wants a $40 CPM for new video ads. Now a bit of context to this before going into the details. Snapchat is the most emerging advertising platform in market. They offer mainly 4 types of different ad products: the Snapchat Discovery network, sponsored lenses, sponsored geofilters and video ads. This we knew, or mostly most of us did. What we missed were the numbers behind: the reach and of course the budget needed to roll-out Snap ads. And here is where this article comes in handy.
According to recode the cost of a Snapchat Sponsored Lenes ad can vary between $500k on Weekdays and $750k on Weekends. Whaaaaaaaaat? That was my first reaction...Then I looked as some results. For instance, the Gatorade Super Bowl ad based on sponsored lenses has reached in 48 hrs. 100 MM Views. Now compare this with Instagram, the other emerging advertising platform. The whole Super Bowl related interactions summed 155 MM. That means that just one Snapchat ad can reach as much as 65% of the total Instagram interactions related to the same topic. HUUUUUUUGEEEEE!
The app is charging a minimum of 4 cents a view for what it calls 3Vi ads (vertical video views and interactive). The interactive part is new and means the ads are clickable; people can swipe up on them to watch a longer video, install an app, shop
That's what Digiday states. Same comparison here. Instagram can charge between 2-10 cents depending on the targeting used. Now here's what I take out of this: Snapchat video ads were until now something like a black hole when it comes to tracking the video ad views. But something tells me they've solved this and are now ready to play the "pay for the view" game with the big fellas. The value proposition they offer: millions of horny millennial views at a very competitive price.
The Price of the View
The right price to pay for a view depends, to me, on how the users look at you as a brand.
If you get the "Son of a bitch" look probably the value for money you get is rubbish. But if you get the "I really really really like you look" no amount of money in the world can pay the satisfaction you can have. Meaning: the ad platform is important up to a certain point, and surely Snapchat is one of the best, but is what you show is the key success metric to get the best looks out of your customers.
See you soon.