Snapchat is uniquely set up to enable people to connect in fun and meaningful ways. And this has benefited the social media company greatly during the pandemic.
The number of daily active users on the platform is up about 23% from last year and engagement is high.
Last year we tracked how the company responded to the coronavirus crisis. This serves as a check-in to see which advertisers are increasing their spend most on the platform, and which have dropped their spend.
Snapchat amid the pandemic
Snapchat activity increased when social distancing became the norm.
Primarily, individuals used texting and video calls to connect with close ones in new ways. Snap’s fun games and augmented reality (AR) filters set the platform apart from other social platforms.
But it’s not just the direct lines of communication between people that boost engagement.
Snap detailed the changes in behavior they observed amid the pandemic. In addition to more direct communication between friends, people increasingly used the platform as a way to:
Snap users also engaged with advertisements more. An analysis comparing late March to late February revealed that there was a 36% increase in install volume for app ads and a 19% increase in swipe-up rate.
In response to COVID, Snapchat partnered with local health agencies to help get PSA’s out about the virus. The company created new AR filters to support the World Health Organization’s response efforts. Users use the filters to donate to patient care, medical supplies or research and development.
Two months ago, Snap expanded its ad offerings by releasing more eCommerce and AR shopping tools. They purchased Fit Analytics, which enables users to find apparel and shoes that will fit comfortably. As advertisers see success using these tools, we’ll surely see Snap targeting more advertisers who could also benefit.
MediaRadar Insights (2021 Update)
Brands Increasing Their Spend
Between April and July 2021, top advertisers who are consistently increasing their spend month over month are: Apple, Theragun, Netflix and Invisalign.
Between June and July:
Brands Cutting Their Spend
Though TikTok used to be one of Snapchat’s biggest advertisers, it’s spending very little on the platform now. Less than 1% of TikTok’s spend was spent on Snapchat throughout Q2 and the beginning of Q3. More of TikTok’s budget is now being spent on Facebook.
Last March Twitch increased their spend by 35% month-over-month. Since then, however, spending has cooled down. The company’s overall advertising spend has fallen 85% year-over-year (April – July, 2020 vs 2021)—none of which has been on Snapchat.
The U.S. Army, which moved to digital during the pandemic, has recently changed the direction of their spending. Lately, they’ve moved much of their spend from digital into TV. None of their advertising spend was invested with Snapchat from April – July 2021.
With Snapchat’s new AR tools and increased user activity, the social media platform is in a good position heading into Q4. Though some brands are shifting to other channels, the company has unique and dynamic ad capabilities ideal for consumer brands.
To learn more about the data behind this article and what MediaRadar has to offer, visit https://mediaradar.com/.
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