Can Snapchat attract big brands and big budgets? The social network is working on an e-commerce platform that it believes can help it take on the likes of Facebook and Instagram. Chloe Rushworth explains more.
Hello and welcome to Digital Minute, where we're talking about another social platform, fighting for your ad budget.
Snapchat has finally announced that it is developing a widely anticipated e-commerce platform. The video messaging app is looking to become much more than a content platform that appeals to publishers, and will launch in an attempt to lure big brands onto the service.
This isn't Snapchat's first flirtation with revenue-driving developments. The app already offers a payment service called Snapcash, and it also offers a 'Discovery' platform, which allows users to find content from a range of leading publishers.
Reports suggest that products will be showcased via a 10 second video, retaining the quick and entertaining elements of the platform. But can Snapchat succeed in delivering a return on investment, particularly as it is a much more passive content platform? We'll soon find out.
And don't forget, our 'How to drive ROI from social media advertising' whitepaper is full of useful techniques to improve your return from social ads.
Thanks for watching. I'm Chloe Rushworth, and that was your Digital Minute.
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