Snap strategist promotes engagement amid user growth shortfall

Snap Inc. Chief Strategy Officer Imran Khan ignored the social network’s slumping share price and said superior audience engagement metrics would drive the social network’s revenue growth.

By: Bloomberg | San Francisco | Updated: May 19, 2017 8:28 pm
an augmented reality feature called Lenses lets users insert an advertiser’s product into a picture or create other branded augmented reality experiences. (Image for representation , Source: Reuters)

Snap Inc. Chief Strategy Officer Imran Khan ignored the social network’s slumping share price and said superior audience engagement metrics would drive the social network’s revenue growth. Khan, speaking at The Next Web conference in Amsterdam Friday, said that Snap’s 166 million daily users visited the site on average more than 18 times per day, spending more than 30 minutes in total daily on the social network.

He used the example of a Snap advertising campaign for Kraft Heinz Co. brand Oreo cookies to highlight the platform’s value for advertisers. He said the campaign, which involved a mobile game people played using Snap, was viewed by 13.6 million people who on average spent 45 seconds playing the game. He said the campaign had lifted Oreo’s brand awareness by 64 points and lifted “purchase intent” by 18 points.

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Khan also promoted the new branded camera-based filters, an augmented reality feature called Lenses that lets users insert an advertiser’s product into a picture or create other branded augmented reality experiences, Snap debuted on May 15, as the company rolls out new tools it hopes will draw advertisers away from rival Facebook.Facebook has been broadly copying many of features pioneered by Snap, has a far larger global audience and has found greater favor with advertisers. Snap’s shares fell 26 percent on May 10 after it reported weaker than expected user and revenue growth in its first quarter as a public company. The shares have since rebounded, but remain 25 percent below their March 3 high.

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The company has been able to boast a user base that can be difficult for advertisers to reach using competing social media, according to research firm App Annie. On any given day in the US, 35 percent of Snap’s daily users did not use Facebook, 46 percent didn’t use Facebook’s photo sharing service Instagram and 58 percent did not use Facebook’s messaging app Messenger, the research company found based on a study conducted during the fourth quarter of 2016. Eighty-one percent could not be found on Twitter, the firm said.

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