Snapchat has carved a place into the everyday lives of the most coveted group of consumers out there—Millennials. That demographic boasts approximately 150 million daily active users, 70% of which are between 13 and 34 years old.
For years, advertisers have been trying to figure out the secret to marketing to Millennials, spending 500% more on this generation than all others combined. And for the most part, their endeavors have proven unsuccessful.
Snapchat, the popular messaging and video app, is on a mission to change that. Recently, Snapchat released its latest update with new features such as Snap Ads Between Stories, Expandable Snap Ads, and an Ads API that advertisers can use to buy campaigns rather than to marginally strike deals with Snapchat.
The goal of the update is to get people to view more content from advertisers alongside user-generated content from friends.
Up until now, advertisers' marketing efforts on Snapchat have been largely unsuccessful, which have left many marketing directors scratching their heads and wondering why that is.
One reason is that many companies are still trying to market to Millennials the same way they did to older generations. However, just like every generation, Millennials have specific wants and needs that marketers need to understand to be successful in their campaigns.
Millennials are focused on connections and self-expression. Because traditional ads are one-way and primarily focused on selling something, they just don't resonate with this generation.