Business

Experian Increases Reach & Drives Action with Commercials

0.78%

First Commercicals swipe up rate

0.83%

Auction Commercials swipe up rate

2.76%

First Commercial install rate

2.04%

Auction Commercial install rate
The Story
Snapchatters are proactive and curious about their financial future with 38% of Snapchatters (A22-34) consuming financial related content either Daily or Weekly.1 Despite this curiosity, many Snapchatters are just starting out their financial journey with 71% of Young Professionals (A22-34) having never taken a class on personal finance.2 With an influx of information and resources Snapchatters are often skeptical, most often turning to content from brands (32%), social media (24%) and financial publications (24%) to stay up to date on personal finance.3  
These insights enabled Snapchat & Experian to develop a financial education strategy that allowed Experian to earn a spot in Snapchatter’s busy lives. Through short-form video, educational video via Business Profiles and Experian sign-ups, they began to understand and lay out  the foundation for making the purchase of their dreams to become a reality for Snapchatters. 
The Solution
Snapchat and Experian, a credit monitoring app, partnered to educate and boost Snapchatters credit scores and uplevel their financial literacy. The goal, in partnership with Camelot, was to identify how video on Snapchat can drive in app sign ups of Experian and reach an incremental audience. Enter Commercials, six second non-skippable video running within premium content on Snap. Commercials bought via the Auction and First Commercial, the first impression delivered to a user during a content session on a given day, worked in tandem to deliver results for Experian. 
The Results
Snap Ads, Story Ads and Commercials in the auction plus First Commercial are Better Together. Performance was complementary in terms of engagement and install performance, as Auction Commercials drove a more efficient swipe up rate, while First Commercials drove the more efficient install rate.4
Furthermore, the inclusion of both Auction Commercials and First Commercials drove significant incremental reach; 66% of Snapchatters reached only saw one commercial type.4

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1Snap Inc. survey of US Snapchat users aged 22-35; February 09 - 18, 2021. Age and location data subject to restrictions. See https://businesshelp.snapchat.com/en-US/a/audience-size-tool for details. Question: "How often do you consume content (articles shows etc.) related to finance?"; 352 respondents
2Snap Inc. survey of US Snapchat users aged 22-35; February 09 - 18, 2021. Age and location data subject to restrictions. See https://businesshelp.snapchat.com/en-US/a/audience-size-tool for details. Question: "Have you ever taken a class on personal finance?"; 486 respondents
3Snap Inc. survey of US Snapchat users aged 22-35; February 09 - 18, 2021. Age and location data subject to restrictions. See https://businesshelp.snapchat.com/en-US/a/audience-size-tool for details. Question: "What resources do you use to stay up to date on personal finance?"; 381 respondents
4Snap Inc. internal data January 1 - June 30, 2021