Back in the day, Snapchat was a relatively simple and straightforward app used by youngins to share pictures and videos, safe in the knowledge that said content would automatically disappear after several seconds. A lot has changed over the last couple of years, and there’s only more changes to come.
Co-founder and CEO Evan Spiegel recently sat down for a rare interview with Bloomberg Business – apparently he knows what millennials and teens want and without giving too much away, here are some key takeaways as to how Snapchat plans to revolutionise digital advertising.
- Advertising to be viewed as a product – “A lot of people look at Internet advertising as a tax on the system,” Spiegel said. “That’s sort of discouraging if you care about making new products.” While most Internet lords view advertising as a necessary evil, Spiegel looks to it as a product. Instead of integrating existing digital advertising options into Snapchat, he’s preparing to offer a young generation of mobile users a completely new experience.
- No more targeted ads – “It’s definitely weird when a vacuum follows you around the Internet,” Spiegel said.
Snapchat is set up for people to come to content because they want to — so instead of pushing ads into people’s faces, paid content that’s valuable and non-invasive will be the only way to succeed on the platform.
- Becoming an editorial network and banking on music
With Stories and Discover, Snapchat is already on its way to becoming an editorial powerhouse. When Sony’s email was hacked last Decemeber, an exchange between Spiegel and Sony CEO Michael Lynton revealed Snapchat was looking to partner with music services Vevo and Spotify. No doubt this will only further boost content on the platform and has led them to being named a possible next-generation Viacom.
- Ditching data – “There’s a sort of weird obsession with the idea that data can solve anything,” Spiegel said. “I really haven’t seen data deliver the results that I’ve seen a great editor deliver.”
It seems every brand publisher is desperately searching for the right metrics to measure content, but Spiegel turns his back on big data. While Facebook and Google focus on providing content that’s popular, Snapchat is all about being meaningful and snackable.
With more than 60% of 13-34 year old smartphone users active on Snapchat, it’s pretty obvious by now that Evan knows his stuff. Vive la Snapchat Revolution.
Lachlan Stewart is a Social Media Specialist at BCM