Snapchat has always been a hub for innovation and creativity. 

After all, that’s how they ended with a net worth of $24.02 billion as of April 26, 2024. 🤯

This time, the social media platform is exploring ways to improve the way brands and creators connect.

How?

Recently, Snapchat partnered with top-tier agencies such as Billion Dollar Boy, Influencer, and The Goat Agency. 

These collaborations aim to encourage brands to work with creators on the platform. 

The result? 

👉 A more streamlined and impactful approach to influencer marketing on Snapchat.

As an influencer marketing manager, I know this will have a massive impact on the future of influencer marketing.

Join me as I unravel Snapchat’s new strategy.

I’ll examine Snapchat’s strategic partnerships, the need for authentic engagement, and its new AR lens rewards program.

Ready? Let’s roll. 👇

Let’s first look at the importance of these new partnerships.

From my perspective, including these new partners alongside the already-established Whalar marks a significant advancement in how Snapchat manages influencer collaborations. 

How?

These agencies are now integral in pairing brands with the most suitable Snap Stars. If you’re not familiar with the term, don’t worry. Snap Stars is the platform’s accredited top creators. 

Letting the top agencies partner with the top Snapchat creators ensures that each campaign is creative and perfectly matched to meet specific marketing goals. Clever!

And it promises to improve the brand-creator synergy.

So, how will this new process work and improve brand-creator partnerships?

Snapchat’s process works like this: 

✅ First, they identify appropriate Snap Stars for brand campaigns. 

✅ Then, they create targeted content for Sponsored Stories and Snap Ads. 

✅ In the meantime, the agencies will manage all the logistics, from proposals to payments. 

What stands out to me is the platform’s commitment to enhancing branded content. 

By boosting these creator-first campaigns through paid media, Snapchat sets the stage for brands to achieve authentic engagement.

Thomas Walters, Co-Founder of Billion Dollar Boy, emphasises the platform’s focus on authentic connections. 

“The platform’s laser focus is on creating genuine connections between users and facilitating brand relationships via the Snap Star Collab Studio, which offers opportunities for truly authentic brand collaborations with Snap Stars and their audiences. 

Greater authenticity delivers more effective results. We can’t wait to work together to create ever more engaging ads and closer brand-powered relationships together“.

He believes authentic engagements are crucial for deeper brand relationships. And I agree.

Similarly, Influencer CEO Ben Jeffries praises the platform for strengthening the ties between creators and their followers.

“This year, Snap’s prioritisation of creators through its Snap Stars program presents an exciting opportunity for brands.” This strategy fosters genuine content and brand loyalty.

But that’s not all that Snapchat is planning. 🤔

Snapchat has also introduced the Lens Creator Rewards Program. This new initiative promises to incentivise AR creators financially. 

Creators can earn up to $7,200 monthly for high-performing Lenses in the United States, India, and Mexico. 

Why is this important?

Because this move opens up new revenue streams for creators while encouraging the development of innovative AR content. 

As Paige Piskin, a top Snapchat creator, shared, this program enhances the financial viability of creating Lenses and inspires a surge in creative activity across the platform.

“I’ve been a Lens creator for close to four years now. I started designing as a hobby, and it transitioned into a full-time career,” Piskin said. 

“In the past few years, my effects have generated billions of impressions and close to a billion shares across platforms, but I have never been able to monetise that traffic (the way a content creator can with ad revenue). I absolutely love creating, especially fun character and makeup looks. Now, with the new rewards program, I feel very excited and encouraged to create more lenses and explore new capabilities and techniques.”

So, what does this mean for the rest of the world?

The strategic focus on the initial three markets (the United States, India, and Mexico) while keeping the program accessible globally illustrates Snapchat’s methodical approach to expansion and its commitment to its global community of creators. 

Slow and steady wins the game, and I agree.

As the program unfolds, it will likely adjust based on community feedback, potentially paving the way for broader implementation.

Snapchat’s initiatives indicate a strong commitment to fostering a thriving ecosystem where creators can succeed, and brands can forge meaningful connections with audiences. 

The Snap Star Collab Studio, alongside the Lens Creator Rewards Program, marks a new era for Snapchat, where creativity, authenticity, and financial incentives align to redefine the landscape of social media marketing. 

The result? A vibrant platform where both creators and brands can thrive in an environment of innovation and genuine engagement.