We’ve heard of McDonald’s using Snapchat to target its recruiting efforts at young people, but other employers are turning to the youth-focused platform to recruit millennials and members of generation Z as well, including some major investment banks. Ellen Chang at The Street recently highlighted Morgan Stanley’s new Snapchat-based campus recruiting initiative:
Morgan Stanley launched its campaign with Snapchat earlier in 2016 in an effort to attract college students, and geofilters were created this summer for its analysts and associates. “We have to be where the students are,” said Lisa Manganello, head of integrated brand marketing at Morgan Stanley. “We want to build on the momentum and leverage and it fits naturally with student behaviors.” …
The bank could expand the geofilters to include other colleges across the U.S. if this initial program is successful to help them garner a broader and more diverse group of future investment bankers, Manganello said.
Other banks like JPMorgan Chase and Goldman Sachs have experimented with advertising jobs on Snapchat as well. ERE‘s recruiting tech blogger Joel Cheesman thinks it’s a great idea:
Highbrow companies who dismiss Snapchat as a medium for greasy burgers and salty fries should now take notice. Snapchat is making strides to becoming a legitimate advertising platform. Need more proof? In addition to Morgan Stanley, JPMorgan actually started testing Snapchat as a recruiting tool last year.
The argument for using Snapchat as a platform for recruiting appears to hinge on the concept of meeting that their target audience in the digital space where they already are. I’m skeptical of the hype about these efforts to raise brand awareness, however, mainly because if big investment banks like Morgan Stanley are no longer competing just with each other for top talent, but with tech companies and startups as well, there is little evidence that simply being in the same digital space as their target audience has much impact on attracting talent or raising the quality of their applicant pool.