Influencer Marketing Trends in 2024
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After its low in 2019, Snapchat has been experiencing positive growth again for the past two years. In addition, the social network is especially popular among young people and Gen Z. Read more on the Kolsquare blog about the general statistics for Snapchat in 2022 and tips for integrating Snapchat into your influencer marketing strategies.
Snapchat launched in 2011 and is now part of the Meta Group. In 2020, the platform launched a campaign to prove that it is more attractive than ever for brands. As a result, several marketers are sharing their experiences with influencer marketing on the app:
The video messaging app now has 293m daily active users who create around three billion snaps a day. This makes the app the most popular among 13- to 24-year-olds. If your marketing strategies are targeting this demographic, Snapchat can become very interesting for your brand. Let’s dive into the general stats for Snapchat in 2022 and also take a look at how you can use Snapchat for your influencer marketing strategy.
Since 2019 (190m daily active users), the number of users has been steadily increasing. Before, the numbers for Snapchat had been declining, but in the last two years, the app has been rapidly gaining popularity.
Compared to daily active users (DAU), Snapchat has almost twice as many monthly active users (MAU) now: 514m people use Snapchat monthly, making it the 12th most popular app overall and the sixth most popular messaging app behind Facebook Messenger (1.3b MAU), WeChat (1.24b MAU), QQ (606m MAU), and Telegram (550m MAU).
In the US, 55.6% of users are female while Facebook Messenger and WhatsApp have more male active participants.. 20.5% of Snapchat users are 13- to 17-year-olds. So 90% of Snapchat users are Gen Z, 82% of US teens use Snapchat monthly, and 36% even describe the app as their favorite platform. While 11.9% of all users are female and between the ages of 13 and 17, the overall largest age group across all genders is 25-34 year-olds at 22.3%. Only 3.5% of users are over 50 years old.
The social network’s revenue is estimated at around $2.62b, and daily advertising revenue is significant. As Snapchat itself published, users of the app are 45% more likely to mention a brand after purchase than any other app. Users of the app like to share what they have bought or which brands they are convinced of.
For every 1,000 followers, influencers on Snapchat receive about $10 per post according to WebFX estimations. Therefore, Kylie Jenner, for example, receives $365,000 for a post on Snapchat.
To become more popular with users and to compete with other social networks, Snapchat expanded its functions, for example, with the so-called “shows,” which seem to be particularly popular. In 2022, the company continues to invest in this feature, which is why integrating “shows” into your influencer marketing strategy can make sense.
Augmented reality features also enjoy popularity among 180m Snapchatters. In June 2022, the app unveiled new features and moved the focus even further to AR shopping, which you can read about on the Kolsquare blog.
For most brands, Snapchat advertising was initially too expensive. At $750,000 per day, many companies opted against ads on the app. Today, Snapchat’s rates are aligned with those of other social media: On average, the cost per impression on Snapchat is less than on Facebook ($5.12) and Instagram ($4.20), according to Strike Social.
However, if you’re considering sponsoring one of the lenses or filters, you’ll have to be aware of varying charges. Between Sundays and Thursdays you’ll pay $450,000, Fridays and Saturdays $500,000, and on holidays and special events like the Super Bowl up to $700,000 per day, said Strike Social.
Graphic by Influencer Marketing Hub
In addition to these expensive ways to advertise on Snapchat, brands can of course invest in influencer marketing on the platform. The following Kolsquare tips will help you take advantage of IM on Snapchat.
Snapchat is wonderful for collaborating with micro influencers. A campaign can then be supplemented with influencers on other platforms. Instagram is particularly recommended for this, as the network has both a young and older user base and you can strategically complement your audience. Multi- or omnichannel marketing campaigns achieve 91% higher customer retention rates year-over-year than those that do not advertise across platforms.
An account takeover also lends itself to Snapchat. Influencers take over your account for a set period of time, sharing sponsored content and stories from their perspective. Ideas for a Snapchat takeover include participation in exclusive events , behind-the-scenes insights, or scavenger hunts, which all help to push a product launch or generally raise awareness.
The advantages of influencer marketing, regardless of the platform, are that users trust the KOL and value their opinion. Influencers have built their communities with authenticity, and you should benefit from this in your collaboration. Give your influencers enough creative freedom to communicate their content in a way that fits their tone of voice.
Do you like tips and tricks on influencer marketing and would you like to read more about IM strategies on other platforms? Then check out the Kolsquare’s influencer marketing blog, where we post updates from and ideas for the industry. Also, follow Kolsquare on LinkedIn so you don’t miss any more articles.
Kolsquare is Europe’s leading Influencer Marketing platform, a data-driven solution that allows brands to scale their KOL Marketing strategies and implement authentic partnerships with KOLs (Key Opinion Leaders). Kolsquare’s technology enables marketing professionals to easily identify the best Content Creators profiles by filtering their content and audience, and to build and manage their campaigns from A to Z, including measuring results and benchmarking performance against competitors. Kolsquare has built the largest community of influencer marketing experts in the world, and offers hundreds of customers (Coca-Cola, Netflix, Sony Music, Publicis, Sézane, Sephora, El Corte Inglés, Lacoste, …) the latest Big Data, AI and Machine Learning technologies to drive inspiring partnerships, tapping into an exhaustive network covering 100% of KOLs with more than 5,000 followers in 180 countries on Instagram, TikTok, Twitter, Facebook and YouTube. As a Benefit Company, Kolsquare has been pioneering Responsible Influence by championing transparency, ethical practices, and meaningful collaborations to inspire change.
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