Snapchat is making it easier to become wealthy overnight! When Snapchat started, it paid over $1 million to video creators daily through its Spotlight program.
But can you make money on Snapchat? Snapchat does not generally offer any money to users. If you want to make money from Snapchat, I suggest you promote products and services on your account or create brand-sponsored content in exchange for payment.
Now it pays millions of dollars monthly to Snapchatters, who create top-notch Spotlight Snaps. Don’t take my word for it.
The New York Times published an article about many Snapchat users making a fortune out of nowhere.
- Andrea Romo earned about $500 million from a video post of his sister frying a turkey.
- Cam Casey earned about $3 million.
- Dominic Andre makes around $100,000 per week.
- Katie Feeney earned over $1 million in two months.
And the list of Snapchat millionaires grows each day. So, yes, you can make money with Snapchat. If you are asking how you can I make money with Snapchat and have a piece of this pie, you are in the right place.
If you are wondering how to earn money on Instagram. I wrote a whole article that I encourage you to read.
Best Ways to Money on Snapchat?
Like most social media platforms, including Instagram and YouTube, you can make money on Snapchat if you do it right and work hard. Let’s dive into how you can monetize Snapchat.
1- Create And Share Viral Videos
The people I mentioned at the beginning of this article made money with Spotlight, thanks to viral videos. Snapchat introduced the Spotlight feature that works like Tiktok, helping creators to earn from their viral videos.
What do viral videos mean? Viral videos are videos with more views, reaching more than your followers. Users share them because they are educative, funny, or inspiring. With Spotlight, brand-new creators and massive influencers have equal opportunities to create viral content and make money.
The competition is high, with users posting many Spotlight videos to rank higher.
How many views do you need on Snapchat to make money? Unlike YouTube and TikTok, which pay users depending on the number of views, Snapchat does not consider views to pay you.
The platform’s algorithm considers factors such as:
- Watch time
- The number of shares
- The number of times users skipped the video.
These factors determine the quality of the content, and as your videos gain momentum, you earn a portion of the price money as a creator.
And there is more; you can earn more with viral videos if you make them within the App. Will Stewart, who contributed to building the Snapchat management platform, notes that creators using the platform exclusively are paid more.
You can also increase your Snapchat spotlight money by posting more weekend videos than weekdays. Users often flood the internet on the weekends.
2- Create Snapchat Ads
Advertisements and social media twins joined at the hip. Small and big brands want to raise awareness of their products and services, and social media is the ideal place.
What makes Snapchat suitable for creating ads? Consider these statics:
- Snapchat boasts over 360 million daily active users. And the figure continues to rise by the day.
- Users spend at least 30 minutes every time they open the App.
- 60% of users will likely make an unplanned purchase from the App.
- Almost 40% of Snapchat users claim they discover new brands from celebrity endorsements.
The numbers show that Snapchat is a huge advertising platform for small and big companies. Additionally, the platform has a high click-through rate, making it easy to make money from advertising.
You can also take advantage of various advertising options on the platform to make money from brands. For instance, Snap ads make it easy to create videos and images to entice users to go to the advertiser’s website.
And if you have an eCommerce store, you can leverage Snapchat to boost your advertising and increase profits.
3- Sell Products Directly on Snapchat
You can create videos directly advertising your products or services and post them on Snapchat. These videos help you reach a wider audience and create brand awareness.
Here are practical ways to sell directly on Snapchat:
- Offer promotions such as small giveaways on your stand. And since Snapchat is a transient medium, ensure you have an urgent call to action.
- Hold a contest: A contest allows you to engage your followers. You can request them to snap you with a picture of your product and choose the winner with the best filter.
- Use Snapcode: It works like a QR code, and you can send it to your email list or share it on your website and other social media platforms. Interestingly, you can embed a URL to your product page on the Snapcode, providing easy access to the sales page.
- Use AR shopping lenses: Snapchat users can buy directly from your Snaps using the new shopping lenses. You can tag your products in your content, allowing users to browse, interact, and purchase from your catalog.
4- Become an Influencer
Although you can make money on Snapchat with few followers, becoming an influencer can increase your earnings.
Creating Snapchat Spotlight content with increased engagement can earn you more money. And as an influencer, you can use Snapchat to create high-quality Snaps, which you can monetize from the Spotlight Page.
However, the amount of money you will earn depends on metrics such as the number of followers, level of engagement from your content, and reach.
But what steps can you take to make money on Snapchat? The next segment answers this question.
How To Make Money With Snapchat
I assume that by this time, you have a Snapchat account and have downloaded the App. Let’s consider practical steps you can take to make money on Snapchat.
1- Know Your Audience
Understanding your audience is vital for a successful marketing strategy regardless of the platform. It is worth exploring your target customers on Snapchat and determining the content they are most likely to consume.
How do you go about it?
- Research what the competition is posting on the platform. You may see them include a lifestyle feel on their product Snaps or focus on features of their products.
- Create a survey and examine feedback from existing buyers.
- Look into your social media analytics, web analytics, and buying data.
- Create customer personas you intend to reach with your campaigns.
If you know what makes your customers tick, employ it to promote your products.
2- Partner With Influencers
You can identify relevant popular accounts to partner with the owners. Using these accounts to reach new audiences, you can promote your products and services.
This would mean paying the influencer. However, you can provide them with a shareable affiliate link, allowing them to earn commissions from a sale through the link.
Turn to geo-filters to target local users. If you have a brick-and-motor store, you can use Snapchat to attract a local audience.
Here is how to use Snapchat geo-filters:
- Turn on your Location Services from the Snapchat app.
- Go to settings on Snapchat and tap on the Manage option.
- Turn on the Snapchat filters, thus enabling geo-filters.
This way, you can serve location-based ads to users in a particular area for better results.
3- Use Descriptive Ads
Using descriptive Ads requires creativity to persuade Snapchatters away from their Snapchat inbox.
One way to woo potential customers is by using descriptive ads. The ads should show customers or followers what they will get once they click it.
I suggest you use discounts or other enticing offers, but tell them where they will go once they click the ad.
4- Be Direct
You only have 10 seconds to hook users to your content. In this time frame, you should show what your ad is about, what you deal with, and why they should take the preferred action.
That is a lot of material to cover in 10 seconds.
Therefore, you need to remove the fluff and get to the point immediately. Hook the user in the first few seconds; otherwise, you will lose them. Put your product directly at the forefront.
Are you advertising a product? Mention or show it at the beginning of the video. Users should know what you are advertising at the onset before they swipe to the next creator and forget you completely.
You need to have the mind of a copywriter and create clear and concise content.
5- Create a Sense Of Urgency
Since you only have less than 10 seconds to hook a Snapchat user, you need to create a sense of urgency.
How do you do that? Include a countdown timer or run a time-bound offer to activate the fear of missing out. Once users feel the offer will only last for a while, they will likely take action and buy.
I encourage you to test, tweak, and try as initially, you may fail with your first ad. But as you learn your audience and their preferences, you can always tweak and experiment with new ads.
Examine how your content is performing, and tweak upcoming campaigns according to the results to make more money on Snapchat.
What to read next:
- 7 Easiest Ways to Make Money on Instagram without Selling Anything.
- Does Instagram or YouTube Pay More?
- When Is the Best Time to Post Reels on Instagram?
Making Money on Snapchat
Snapchat is a powerful social media platform you can tap into to make money. Fortunately, most brands ignore it, giving you less competition.
If you want to make money online, you should pay attention to Snapchat. This article has shown ways and tips to get you off the ground with Snapchat.
Fire your creative mind and know what your target audience wants. Give your fans what they want, and your brand will do wonders on Snapchat. All the best.