The augmented reality-powered lenses and filters provided exclusively by Snapchat are one of the most popular and creative ad products at this moment in the market. Advertisers though have expressed their dissatisfaction for long as they can’t really drive satisfactory returns on their investment by using these.
Snapchat, as it seems, has taken some steps regarding that issue. Context Cards for its sponsored lenses and filters will be soon rolled out by Snapchat. This change takes place right from today. Advertisers now will be able to add free Context Cards to their lenses and filters & bring more information about the lenses and filters to the users.
Simply by swiping up on any friend’s snap that includes a sponsored lens or filters, the user will be able to open up the linked website URL & that too without leaving Snapchat. The advertisers can now track their Return On Investment (ROI) directly with the help of these Context Cards.
Previously advertisers were able to use sponsored lenses and filters only to track engagement which is the number of people that played with them and for how long. Whereas this change enables them to quantify whether those filters and lenses actually drove any fruitful action like a purchase or a click to a website.
Context Cards for lenses and filters will literally convert Snapchat into a shopping vehicle where brands can directly track ROI.
For instance, the film studios can now add a Context Card containing the link to the website selling tickets, apart from running a lens for the film. A makeup brand can now attach a link via the context card to a filter touting a new lipstick. This link will direct the users to a website where they can get a discount coupon while purchasing it.
Lionsgate is the first entertainment brand who will be running Context Card alongside a lens. On the occasion of its upcoming film ‘Wonder’, the company has decided to attach a Context Card to a lens that will be running on Monday. The lens will state “World Kindness Day”. On being swiped up, the Context Card will lead to a URL where they can insert their location, view screening times and purchase tickets of ‘Wonder’. It will be Lionsgate’s 12th lens to run on Snapchat so far.
This monetization comes at a good time for Snapchat. The company went public in March. Since then there have been reports of a string of disappointing losses in revenue. The user growth went down as well. Snapchat lost $443 million in the third quarter, this year.
Context Cards are expected to uplift Snapchat from a mere engagement play to a platform that advertisers can use to actually drive and track returns on their spends.
It was back in October when Snapchat introduced Context Cards. Initially, on being swiped up, it used to allow the users to see relevant information about the location of a photo or video snap message, including reviews, contact info, directions, and more without leaving the app.
Source: Business Insider