Snapchat is rolling out a scheme to entice start-up businesses to advertise on the social media platform.
Dubbed Snap Accelerate, the initiative has been designed to help mobile companies boost their marketing reach.
According to reports from Business Insider, Snapchat is currently looking to partner with start-up companies, particularly mobile-focused businesses, mCommerce, but also app developers.
Snap Accelerate comes at various levels including the “Kickstart” stage, which includes access to free branded filters, Snap products and creative tools as well as a media coupon. The package is worth $10,000.
“Sprint” and “Scale” packages are available for slightly more advanced start-ups with the latter being worth $100,000.
Fitness app Aaptiv is one of the start-ups taking part in the scheme. Ethan Agarwal, Founder and CEO at Aaptiv, explained:
“For startups like ours to be successful, we need both an excellent product as well as an innovative way to target our audience. We understand how mobile content works and so does Snapchat, and their audience is the perfect audience for us to expand to as we seek a larger set of users.”
For Snapchat, the programme launch could help boost the company’s advertising revenue.
“This a good move for Snapchat because, ultimately, the more people who try the platform, the higher the likelihood that an advertiser is going to see success on the platform and continue investing money with them. It’s all about proving that there’s a positive ROI there,” said Jeremy Leon, VP of Strategy at agency Laundry Service.
Instead of focusing its energies to compete with heavy weights Facebook and Google for large brands and advertisers, it appears that Snap is concentrating on enhancing its strategy to reach start-ups. This could work in the company’s favour down the line.