While you might think Snapchat is something your kids do, or just another teenage fashion that is about to die, in reality it can be a great money-making opportunity for people of all ages with very little work and competition … for the time being. Most brands and companies are not yet realizing the potential of Snapchat, so MoneyMagpie will show you how to make money on Snapchat now and stay one step ahead of the competition.
Whether you, your business, or your kids, there are plenty of ways to make a reliable income from all the time you spend on social media, and Snapchat is no exception: as the fastest growing social media platform (see above) quick that it is now.) Listed and posted $ 2.5 billion in revenue last year) Snapchat also offers a great growth opportunity.
What is Snapchat
Snapchat was founded by Evan Spiegel in 2011 and differs from other social media platforms in that it is time-limited. That said, Snapchat is a platform that allows you to send “snaps” – photos or short videos of up to 10 seconds – to your friends or contacts, or broadcast them publicly in Stories, but when the time runs out the Snap will be deleted and no longer accessible to your followers.
Snapchat is huge and growing. With 280 million daily users (or 280 million potential customers for us) in the first quarter of 2021 alone, the platform is particularly popular with young people, who take over 5 billion snapshots and 18 billion video views every day. Over half (53% according to Statistica) of social media users between the ages of 15 and 25 use Snapchat, with a staggering 70% of US teenagers using the app. In fact, Snapchat is the most popular social media platform among American teenagers, attracting more daily users than both Instagram and Tik Tok.
That, of course, means that all of the money-making methods MoneyMagpie suggests are best geared towards this tech-savvy population. With limited time posts, you might be wondering exactly how to make money on Snapchat. Well, you need to focus on a niche product or service in order to promote it, partner with an established brand or influencer, or use any of Snapchat’s various features.
How Much Can I Make With Snapchat?
As with any business, this depends on it. The big brands and influencers with huge social media followers can make millions, but with regular and effective use of Snapchat, any user can grow their income by several thousand.
Check out MoneyMagpie’s top 5 ways to make money on Snapchat below:
How to make money on Snapchat
Snapchat ads can be a great way to promote your business or a specific product or service to millions of users around the world. Snapchat’s advertising platform, Snap Ads, is viewed by 500,000 to 1 million users daily. So this is a great option for raising your business or branding profile, and you can create ads and run campaigns without having to send traffic to an external page (e.g. your company website or online store) that has them be able to complete a purchase.
Using a money processing program like Snapcash can streamline all of your payments and turn your social media time into an online marketplace and help you make more money on Snapchat.
Sell your snapshots
If you’re an influencer with a large following or know one (if not, ask your kids!) Some companies will pay to promote their products to your followers. Many are looking for influencers who can draw significant attention and traffic to their products, and sponsored content offers and ongoing partnerships are common with those with large following. For the bigger brands and companies, you can turn a single Snapchat story into thousands.
Also, if you are a business owner this is a great way to promote your product or service. The social media heavyweights with a large following will charge tens of thousands and maybe hundreds of thousands, but the fees can be much more reasonable for influencers with a smaller following.
Geofilters are designs that are superimposed on snapshots that are only available if you are in a specific area at any given time and can be a great way to increase your brand or business awareness in any location you choose .
If you are a company, adding your company name or logo so those who use and see your filter know that it is sponsored and by whom.
This is a great way to promote a product or brand name and make money on Snapchat. You can use it to promote your online store or redirect traffic to your website and create a free geofilter for an important location or close to your business, such as: B. a business park or a public attraction.
Affiliate marketing is common on many platforms, but it’s a great way to make extra money on Snapchat. Affiliate marketing is essentially about promoting other people’s products and earning a commission per sale: if you want to make money on Snapchat, affiliate marketing can be an extremely lucrative and easy way to do it.
The main benefit is that you can get started with relatively little effort or experience, and the commissions make you more money than other methods. However, as with any commission-based business, if you don’t make sales, you won’t get paid.
How does it work? If you post a Snap that shows off or rates a specific product and then inserts a link to buy it, you will receive a commission on everything they then buy, not just the specific item you linked to! Sounds good right? It’s a very easy way to make extra money on Snapchat, but you need to be aware that you are using an affiliate link – otherwise you could be breaking advertising laws!
Use of sponsored lenses
Sponsored lenses are another way to promote your brand or business and make money on Snapchat. Snapchat lenses are similar to filters, but lenses are more like special effects added to photos or videos. Have you ever noticed your kids playing around with those dog faces on the screen? This is a lens. Branded lenses usually include your company name, logo, and the product or service you are trying to promote.
Companies like L’Oréal pay for sponsored lenses that users then access and share and promote the company. Many big brands use sponsored lenses to increase sales, awareness, and as part of promotions. Note that this is more of a long-term – and expensive – way of making money on Snapchat, so it’s usually only used by established brands.