Do you use Snapchat? Do you want to earn money on Snapchat? Here is a complete guide on how to make money on Snapchat!
Snapchat is one of the most popular social media platforms, especially among the young generation. With 229 million daily active users worldwide, the multimedia messaging app also provides monetization features in it.
How to Make Money on Snapchat (For Beginners)
Let explore different method to make money on snapchat.
1. Becoming a Snapchat Influencer
Everyone is an influencer in Snapchat. Some are more influencers than the rest and the more follower you have the more you earn.
Snapchat is as popular among adults as it is among teenagers. Snapchat influencers even build a carrier in the app. Snapchat influencers first create their online presence. They post engaging content regularly and make sure they get more followers by the day.
Once they have a strong fan base, they can start acting as influencers. Earning as an influencer is exactly as of Facebook, TikTok, or any other social media.
Influencers can reach out to companies or advertisers and pitch their accounts to them, offering marketing for certain brands or products. It can happen the other way around, too. Companies often search for these influencers and offer them compensation for promoting their brand or product on their videos.
The pricing of compensation greatly varies. It depends on the following factors
- Number of fans and followers
- Level of post engagement
- Compatibility of the influencer and the brand or product to be promoted
- Number of posts agreed upon
- Types of the post (photo, video, or both)
- The effort needed from the influencer (i.e., are photos or videos provided, or do they have to shoot it themselves?)
- Where the promotion will be made (on influencer’s account vs. cross-posting)
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Tips to Become a Snapchat Influencer
Becoming an influencer of Snapchat is not too difficult. There are some points, always keep in mind if you are just starting on this venture
- Always make and use an original brand, persona, and daily posts.
- Make sure your content is accessible to your target audience
- If you are a website owner or have other social media accounts, link them to your Snapchat profile
- If possible, buy your Snap filter (optional)
- Only advertise or endorse brands that you believe in and support
- Your followers deserve worth, give them rich content to enjoy
2. Promoting Your Business or Product on Snapchat
Another way to earn money via Snapchat is to directly sell your products or services and again, you need to have a good number of followers and viewers.
Make sure to sell something that reflects the values and voice of your brand. Try not to exaggerate the promotion and limit your sales language. Provide your followers with other valuable content – and not just buy this, purchase that. Otherwise, you might lose your followers and customers.
A nice way would be to try and post snaps of you and/or your friends using and enjoying these products so that it is easier for your viewers to relate to it.
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What is a premium Snapchat?
Premium Snapchat or Paid Snapchat is a Snapchat account that requires a fee to make it public. Users can view Premium Profile and posts after the fee. There is no official and fixed-rate, but a good estimate is around $25.
How to Make a Premium Snapchat
- Download the Snapchat application from the iOS App Store or Google Play Store.
- Create a username.
- Go in settings and Set all your stuff to my friends only like to view my story and who can contact me to my friends only.
So, the people that you accept can view your story and can send you messages. Then you charge a premium. Now, You can set a fee whatever amount you wish to view your story.
How to get Followers on Snapchat
You can go for either of technique to enlarge your following base.
- Ask for shoutouts from successful influencers (you may be charged a certain fee for this).
- Use Facebook ads to drive users to your Snapchat profile.
- Use organic techniques like linking your Snapchat profile with Facebook, Twitter, blogs, etc.
- Use premium and custom lenses and geofilters to catch the attention of high-traffic areas.
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How to send Money on Snapchat
After your users have linked your debit card, you can send Cash to anyone in your contact list. Just like chat feature, swipe right on a friend’s name in your Snapchat feed to begin using Snapcash.
Sending money requires three steps
- Type a dollar amount (e.g. $25) in the text-chat feature, and the green Snapcash button will appear.
- Tap the green button, it turns the dollar amount into Snapcash. You’ll notice this when the dollar amount turns green. ($25)
- Tap ‘Send’ to transfer the dollar amount to your friend. The amount will be sent to your friend from the debit card you provided at Snapcash sign up.
Why Snapchat is a Good channel to Make Money?
Snapchat is a great platform to earn money online because just by knowing the basics and doing your homework, you can monetize your Snapchat account.There are different ways of monetizing Snapchat.
How does Snapchat Make Money?
Snapchat uses 5 ways to make money:
1. Snap ads
The majority of Snapchat revenue comes from advertising. Snap shows brand advertisements between your friends’ stories. Advertisers seem to be joining this platform as diverse ads are now shown on Snapchat. The average offer for a “swipe-up” action is $1-3.
Snapchat ads are appealing to marketers because of
- The high engagement as users is more actively looking at their Snapchat screens than other social sites.
- The fact that the ad captures 100% of your screen.
2. Sponsored lenses
Snapchat added these fun boosting reality filters to make your face look cooler. Snapchat charges a flat-fee per day and also offers on-demand filters that start at $5 and goes on depending on the duration and audience size.
Taco Bell lenses and Gatorade lenses are the examples of sponsored lenses who paid the bulk of the money to Snapchat on impressions on their lenses. The branded face filter may also play a sound to increase engagement.
3. The “Discover” Section
Snapchat has a Discovery section which is on the same screen where my friend’s stories appear. This section allows publishers to post on Snapchat to attract viewers to consume their content.
The company generates a portion of its revenue from the Discover section. Brands pay a cost per view on Discover ads which is a good alternative investment compared to SEO.
A discovery section is now a great place for marketers and advertisers as users can now subscribe to various brands and get notified when those brands post new content. Also, the personal Snapchat account uses it to get “discovered” by new fans.
4. Branded Geofilters
Geofilters are filters that are contained in a particular geographical location. Users can access them by left-swiping just after a taken picture or recorded a snap. These filters allow advertisers to promote different actions like visiting a website or making a purchase. They can make a good amount of success with this type of filter.
These actionable geofilters are good platforms by which advertisers increase business and Snapchat gets paid by them.
5. Sports Partnerships
Snapchat also earns through partnering with various Sports organizations such as NFL, MLB, etc. Besides, other brands can advertise their product to sports fans. These partnerships also promote attendance to events from millennials and younger folks.
Conclusion on How to Make Money on Snapchat
Using social media and posting on it is not just fun anymore. You can build a carrier through them. We discussed Snapchat, Just you need to know how to make money on Snapchat and work on it. You can start earn a handsome amount through it. It all on your interest, creativity and no doubt hard work.