HOW TO MAKE MONEY ON SNAPCHAT?

Since its launch in 2011 as a messaging tool, Snapchat has made a significant impact on the social media landscape. By focusing on photos and videos for communication, it quickly gained popularity and now hosts over 432 million daily active users. Shortly after its debut, Snapchat broadened its appeal by introducing features like Stories, Chats, and Snap Maps. This further established Snapchat as more than just a communication app but a social media platform.

In recent years, there has been a growing focus on content creators in the online world, particularly from brands on social media platforms. This is not only due to their significant influence and audience reach but equally their ability to generate sales, leads or revenue from advertisements and partnerships. While Snapchat may not be the first platform that springs to mind when considering monetization options, it has undergone significant evolution over the years and could emerge as one of the most rewarding avenues for creators.

Making money on Snapchat?

Like many of its competitors, Snapchat provides various ways for users to earn money. The primary method is to become one of its exclusive 'Snapstars'. These select creators gain access to Snapchat's revenue share program.  

Spotlight Rewards

Spotlight is Snapchat's discovery page that highlights the most entertaining Snaps. Anyone can submit their content and each month Snapchat will reward a select number of creators based on the quality of their Snaps. However, it's important to note that Snapchat business accounts, as well as brands or advertisements, are not eligible for these rewards.

Brand Partnerships and Selling Products

Similar to other social media platforms, creators on Snapchat can earn money through brand partnerships. Snapchat even offers a feature in your profile settings that allows you to activate 'Brand Partnerships’. This connects your profile and content with third-party brands, opening up monetization opportunities both on and off the platform. This feature is exclusive to 'SnapStars.' 

Creator Gifts

Gifting allows viewers to show their support for their favorite creators by sending them ‘gifts’ while enjoying their public stories. When a user sends a gift to a creator, their reply to the creator's story will be given priority in the creator's feed. For creators, these gifts can be converted into cash.

Snapchat Revenue Share Program 

Exclusive to SnapStars, the Snapchat Revenue Share program enables creators to post Snapchat and Story content, while  Snapchat places ads between these posts. The revenue generated from viewers clicking on these ads is then shared between Snapchat and the creator.

How much does Snapchat Pay to its SnapStars? 

Snapchat has never openly revealed the percentage of revenue it shares with creators. This suggests that the share percentage may vary for each creator, likely influenced by factors such as engagement levels, content quality, and viewer interaction. As a result, some creators may find it easy to earn substantial amounts, while others might need to refine their content strategies to increase their earnings.

How to boost your pay on Snapchat 

Ultimately, payments depend on how much ad revenue is generated between your stories and snaps. Therefore, the more posts you share in a day, the more ads will appear, increasing your chances of earning revenue if viewers engage. However, it is crucial to maintain a level of engagement with your audience and ensure content quality; simply flooding the platform with posts can backfire causing viewers to lose interest in viewing your posts altogether, which decreases ad revenue. 

Getting paid on Snapchat

Snapchat creators earn money through Snapchats own currency, known as Snapchat Crystals. These are essentially tokens which can be converted into real money. All transactions and payouts take place within the app and allow creators to cash out at any time. However, it's important to note that the minimum payout is set at $100.

Eligibility to Become a Creator on Snapchat

To qualify as a Creator on Snapchat, users must meet specific criteria. These are designed to enhance authenticity, engagement, and quality content. Below are the key requirements:

Basic Requirements

• Residency: Must reside in a supported country
• Public Profile: The Snapchat profile must be set to publicAccount Activity: The account must have been active for at least one month.
  Follower Count: A minimum of 1,000 followers is required.

Transitioning to Snapstar

Becoming a Snapstar is more demanding, as Snapchat has not disclosed specific public thresholds. However, the community acknowledges that the following factors play a significant role:

• High Account Engagement: 
• At least 50,000 subscribers.
• View and Watch Time Requirements: Over 25 million views or 12,000 hours of view time on the public profile in the last 28 days.
• Authenticity and cultural significance.
• High-quality, engaging content.
• Public appeal and compliance with Snapchat’s community guidelines.

Earning Through Snapchat Spotlight

To earn from Snapchat Spotlight, creators must meet additional criteria designed to promote creativity and consistent engagement:

• Unique Video Views: A minimum of 10,000 unique views on Spotlight submissions.
• Diverse Snaps: At least 10 unique Snaps must be submitted.
• Snaps must span a minimum of five different days.
• Creative Use of Snapchat Tools: At least five Snaps should leverage Snapchat’s creative tools, such as Lenses, Filters, Sounds

What makes Snapchat different for Creators

Snapchat is a fantastic platform for sharing moments in real-time, enabling users to post a greater amount of content in a shorter time span compared to most other social media sites. Its immediacy allows creators to capture and share experiences right away, meaning that the quality of the content doesn't have to rely on high production values or intricate ideas to be monetized successfully.

While Snapchat may not specifically produce new viral creators or significantly amplify reach, its potential for monetization is impressive. Fans can engage with creators by witnessing their daily lives unfold, and the platform's authenticity is highly valued. Overall, Snapchat makes it easy for creators to connect with their audience.

Snapchat’s monetization strategy has effectively made it a top pick for prominent creators, celebrities, and brands seeking new ways to generate revenue. This has enabled Snapchat to start competing with TikTok, YouTube, and Meta.