Snapchat eyes marketers with social listening tool to track trends

by WarriorForum.com Administrator
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A new article on Marketing Dive reports that Snapchat Trends gives marketers competitive intelligence and another way to gauge consumer sentiment around a brand, product, or campaign.



Snapchat hosts a vast number of conversations among the 293 million people who use the photo-messaging app each day. The platform in August unveiled Snapchat Trends, helping marketers seeking insights into topics that spur the most visible discussions among younger consumers. Jasmine Enberg is an EMarketer senior analyst at Insider Intelligence:

"It's a platform-specific market research tool that brands can use to inform their marketing strategy. It provides marketers with heaps of new data on Snapchat users and highlights broader trends within the Snapchat community, which brands can use to plan their campaigns and overall strategy both on and off the platform."
The introduction of the trends tool comes as Snapchat shows greater momentum in expanding its reach. The app's daily active users (DAUs) in the second quarter rose 23% from a year earlier -- the fastest growth in four years. Snapchat's social listening tool somewhat resembles Google Trends, which the search giant introduced in 2006.

"[Snapchat Trends] can help marketers to gauge consumer sentiment around a brand, product or campaign. It can also help with competitive intelligence, giving brands insight into how their competitors are faring and how their product offering might fit into a market. That can help inform marketing strategy."
The market research applications for Snapchat Trends include monitoring which products people are discussing and what kinds of activities they're doing. The information can help to inform ad creative and copywriting that are contextually relevant to a target audience for different categories of products and services. Snap has observed significant activity related to holidays and celebrations -- like National Ice Cream Day or International Women's Day.

"We tend to see a massive groundswell in conversation around these 'in-between' holidays," per Snap's announcement. "For any brand looking to 'own' a relevant moment, Trends can be a powerful planning tool in finding the right moment with which to align a media strategy. It can also help with competitive intelligence, giving brands insight into how their competitors are faring and how their product offering might fit into a market. That can help inform marketing strategy."
Snapchat is particularly popular among younger consumers sought by advertisers. It reaches more than 90% of people ages 13 to 24 in the U.S., U.K., France, Australia and the Netherlands, Snap's internal data shows. It also reaches more than 75% of people ages 13 to 34 in those regions.

"The oldest members of Gen Z are now entering adulthood, and as the first true digital natives and the most racially and ethnically diverse generation thus far, their characteristics, habits and buying preferences are significantly different from previous generations. They are digitally savvy and pragmatic. They value individualism and are socially conscious -- which are all traits they expect and appreciate from the brands they engage with as well."
Monitoring current trends is also vital to digitally native brands and direct-to-consumer (DTC) sales efforts amid the growth in e-commerce. The pandemic led to a significant surge in e-commerce activity.

"We expect digitally native [DTC] e-commerce sales in the U.S. to reach $129.3 billion in 2021, up by 15.9% over 2020. [Snapchat Trends] provides market data and trends for core audiences, which can help inform their marketing and e-commerce strategies."
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