Marketing Insight Snapchat Advertising

Marketing Insight: Snapchat Advertising

Real Results: Reaching the Next Generation

As a financial institution, reaching younger consumers is essential to securing your future! This is precisely what our client, a $500 Million credit union sought out to do with their monthly campaigns during Q1 2023. Check out our latest Marketing newsletter for the real results from their trial of Snapchat Advertising to reach their next generation of members.

Source: Strategis, 2023

Background

During Q1 2023, our client, a $500 Million credit union, sought out to reach a younger audience with their monthly campaigns. To increase visibility among millennials and Gen-Z, we decided to tap into the 75% of millennials and Gen-Z that can be reached on Snapchat. Starting as a trial, the products advertised on the platform during the quarter were Credit Cards, an Auto Loan Cash Bonus Offer, and their First-Time Homebuyer Mortgage Special.

Source: Strategis, 2023

Method

We used Snapchat’s geotargeting capabilities to target users solely within the credit union’s service area. These users were served animated ads that matched each monthly campaign and landing page. These took up the entire screen, engaging users to swipe up on the ad and visit the campaign’s landing page on the credit union’s website. By taking up the whole screen, Snapchat ads receive almost two times the visual attention of other social media ads.

Result

The campaigns successfully planted a seed for the next generation of members by reaching users under the age of 35! On average, during the quarter, 90% of impressions came from those aged 18 to 34, and an average of 71% of swipe-ups to visit campaign landing pages fell within that same age group. Additionally, the average swipe-up rate across campaigns fell within Snapchat’s average range of 0.35% to 1.50%, but the swipe-up rate for the Auto Loan campaign surpassed this at 2.04%. Due to the campaign’s success, Snapchat is now an integral part of the credit union’s strategy for reaching the next generation of eligible members with monthly campaigns. Moving forward, the credit union continues to invest in Snapchat and grow its audience among younger generations with this platform at its head.

Source: Strategis, 2023

Are you interested in developing a Snapchat Advertising campaign? Strategis is a full-service agency developing strategies for community banks and credit unions proven to increase the (ROI) through various methods.

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