According to Snapchat, more than 100 million people use the application every day. You are probably one of those people or know someone who is.

Not long ago, the business world watched in anticipation, curious about Snapchat’s ability to monetize. Some wondered if Snapchat would become another overvalued, unprofitable startup.

We now see that’s not the case. After unveiling their sponsored ad platform and expanding their API, Snapchat became one of the heaviest hitters in the digital advertising realm, with audience reach surpassing many existing big players in the market and an ability to directly communicate with millennials – including the 77 percent of college students who use Snapchat at least once daily.

[Tweet “77% of college students use Snapchat at least once daily.”]

Colleges and universities can reach more of their target audiences and cement themselves at the forefront of higher ed marketing by taking advantage of Snapchat’s ad platform.

Here are three ways to do it:

 Sponsored Lenses

These sponsored ads use facial recognition software to engage the user and apply a branded lens to their picture. A sponsored lens maximizes brand engagement because it ensures that the user is applying your lens to their face or other picture.

Current students could apply your branded lens to their faces and send it to their followers – some might even be prospective students. The lens is an opportunity for the student to show off a school’s trademark item or mascot, sports team jersey or anything that will drum up school spirit.

Snapchat partners with tech and creative companies to customize a sponsored lens for each brand. Lenses come with significant reach and a price tag to match, with some costing as much as $750,000 for a one-day lens.

However, the lens is not only used by millions, but seen by everyone who opens the individual snaps.

Sponsored Geofilters

Geofilters are less interactive than sponsored lenses, but they still provide opportunities for institutions to connect with their target audiences. Geofilters are used as a sort of graphic banner or background to the user’s photo or video. They allow the user to interact directly with your brand and promote your message to the Snapchat audience. According to Snapchat Internal Data, these sponsored Geofilters reach 40 to 60 percent of daily Snapchatters.

You can also forgo the sponsorship and try your hand at native Geofilters. These originally designed Geofilters are submitted to Snapchat for review, and if picked will be available in a certain geographic region free of charge. While corporations and businesses can’t use native Geofilters without paying, colleges and universities can.

Snap Ads

Snap ads are different. They play as vertical, full-screen video advertisements between regular snaps rather than appear directly in a user’s snap. Users often encounter these in the media section of Snapchat, in between content produced by editorial partner companies like CNN, New York Times and Vox Media. Ad rates are determined by number of views.

Snapchat claims the swipe-up rate is five times higher than the average click-through rate on similar ad platforms – a striking increase. These ads take up the entire screen and usually focus on quality content, making a point to engage and interest the user.

Use snap ads to run a more traditional, digital video campaign demonstrating your institution’s unique value propositions and connect with your target audiences.

Aside from paid advertising, there is also the traditional snap story. This is not a form of Snapchat sponsored advertising and can be used for free. Universities have been using the live story feature and broadcasting their schools on customized campus stories since before paid advertising was available. Here at Converge, we’ve even covered various ways to use Snapchat in higher education.

With Snapchat’s increasing popularity, paid advertising provides a new medium for colleges and universities to reach their audiences. And the sooner institutions get on board, the sooner they can capitalize.

[Tweet “Unlike your Snaps, this ad platform isn’t disappearing anytime soon.”]

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