Say goodbye to F.O.M.O. (fear of missing out) because, thanks to our kind friends at Snapchat, you can watch live broadcasts of events like New York Men’s Fashion Week, Wimbledon Finals and even Coachella. The update to the already lucrative app makes sure you don’t miss out on any event, near or far.
What exactly does this mean?
The ‘Live Stories’ feature isn’t your typical media coverage because it allows participants at a specific event to submit their own pictures and videos through the app. But it also means that even if you don’t attend the featured event, you can still engage with the “snaps.”
The Snapchat crew compiles hundreds of submissions into a two to three minute collection for all to see. Let me tell you, the competition is fierce. Due to over 20,000 submissions, there is only a 0.25 percent chance of landing a spot in a live story. So may the odds be ever in your favor.
Victor Luckerson, a writer for Time, said it best, it’s “a broadcast platform like NBC or YouTube. But instead of being powered by Hollywood actors or up-and-coming online video stars, Live Stories are a kind of real-time, crowd-sourced documentary made up on the fly by the app’s 100 million daily users.”
Luckerson is correct, but the app also lets the organization hosting an event to provide behind-the-scenes footage before, during and after special events. This makes content in Snapchat’s live stories widespread.
Do I smell a marketing opportunity?
Snapchat updates are strategic and effective in targeting 18 to 24 year olds and brands are much more aware of its potential. They want in on the broadcast content, or should I say, they want their event featured in a ‘Live Story’.
This new type of user engagement allows Snapchat to charge two cents per view on a 10-second ad. Its aim is to show brands that Snapchat has the ability to let massive audiences watch media at the same time, or at least in a 24-hour time frame.
“Anything that mimics the TV experience in a social app is going to be interesting to marketers,” according to Debra Williamson, an analyst at eMarketer. This concept is also compelling because people are watching live events more on Snapchat than on T.V. nowadays.
The more immersive brand messaging allowed on Snapchat makes it a relevant and timely place for public relations professionals to promote a brand visually.