Depop increases their spend on Snapchat by 3X after seeing efficient scale & reach
lower cost per acquisition vs. other channels between Q4 '18 - Q1 '19
91% & 48%
higher LTV in the US & UK respectively vs. Facebook in Q1 '19
of total media spend allocated to Snapchat
Depop is a mobile app and social marketplace that allows people to buy, sell, and discover fashion from the most inspiring creatives in the world. They have a global audience of 12+ million users, who are mostly between the ages of 18-25. They were looking for partners who could help them scale and grow in key markets, like the US and UK, along with acquiring high quality users. Through certified Snapchat partner, Nest Performance, Depop collaborated with Snapchat to reach a new audience that was relevant to their platform and hard to find elsewhere.
The Solution: Snap Ads + Story Ads
Depop partnered with Nest Performance to drive installs amongst their core demographic on Snapchat, 18-34 year olds in the US, UK and AU. They ran Snap Ads and leveraged Snapchat’s Snap Lifestyle Categories, targeting “Snap Installers” to efficiently reach and acquire new users. They started testing Story Ads shortly after, and saw a deep level of engagement that was unique to Snapchat. Due to the early success they saw, Depop shifted their budgets and grew their spend on Snapchat by 3X. They started using tools like Audience Insights and the Snap Pixel to retarget users most likely to convert. This drove even further efficiencies and allowed Depop to start focusing on driving quality registrations with LTV as a marker of success. They, yet again, achieved success, seeing a 52% lower CPR vs. pre-existing paid media, and a 91% & 48% higher LTV in the US & UK respectively vs. Facebook. With the support of Nest Performance, Depop also tested creative throughout the process, and found that creating bespoke ads for Snapchat was most successful. These ads were all built for sound-on, short form, and punchy, driving incredible engagement.
Overall, Snapchat proved to be a top performing marketing partner for Depop, allocating 50% of their total media spend towards the platform. Snapchat’s products allowed them to be creative in their marketing mix and acquire new users in a way they hadn’t done before on other channels. This ultimately allowed them to acquire the highest quality users at a cost efficient rate.
- 1Source: Client provided data