If you have taken an interest in social media news, you’ve heard Snapchat being slammed the past few months in regard to its updated design and filters. I mean, Kylie Jenner made one comment in February on Twitter asking if anyone uses the platform, and the stock lost close to $1 billion in market value.
Sure, that’s probably because a large percentage of Snapchat users enjoy watching what she had to eat that day, or her notorious selfie videos of kissy faces and ab shots. And if Kylie Jenner hates and deletes Snapchat, of course, her fans will follow suit because they have nothing else to do with their precious time.
This also comes at a period where other celebrities like Rihanna shamed the app for running an ad asking users if they wanted to “Slap Rihanna” or “Punch Chris Brown.” The stock dipped by more than 4.6 percent after she made a statement claiming the app was targeting victims of domestic violence.
But who cares what celebrities think, right? It’s not like all of their followers drink their Kool-Aid, or do they?
The question I hear a lot in the industry is what does this mean from a marketing standpoint?
Even if you don’t use Snapchat in your current strategy, you know that it’s a platform that is used by millions, so do you bother investing in it or taking your dollars and energy elsewhere?
Snapchat By The Numbers
Once upon a time, Snapchat was the talk of the internet. Suddenly this platform existed allowing users to “snap” time-sensitive, self-destructing content that evaporated into cyberspace with no physical remains left. How neat!
They went from 33 million monthly users in 2013 to more than 300 million monthly users today. That number has stayed consistent in the last few years, too. People seem to still be loving and using the app, but after its latest updated design, 1.2 million have signed a Change.org petition to remove the new Snapchat update.
The media had a hay day with this, and that’s when the celebs started bashing the platform. It must not be cool anymore. However, while the stock did drop and millions did complain, Snapchat only lost about 90,000 of its 187 million daily users.
All that drama for not even .0005% of users lost.
To Market or Not to Market
Do you have a unique business that thrives on video marketing? Do you have time-sensitive deals you want to offer customers? Is the majority of your demographic on Snapchat?
If you answered yes to any of the above, you should probably consider using it as a marketing tool. Social media is free, and if you’re not utilizing it, you will fall behind your competitors that are using various platforms, especially if it’s lucrative for your business. However, I do say this with the assumption that you have a team of marketers and resources in-house.
Snapchat can be a beast to keep up with and the problem with disappearing content is that you have to be consistent with posting and have a strategy in place.
Users follow brands to be in the know, keep updated on specials and to feel like they can connect with their favorite company, and if you’re not actively posting, or if maybe you’re over-posting, you will struggle with traffic on the platform and lose your follower’s interest.
Snapchat Vs. Instagram
I won’t hesitate for a second. Instagram – all the way!
Why?
Well, for starters Instagram has 800 million active users. Yes, I know that Instagram basically ripped off Snapchat stories, but in the end, it doesn’t matter because Instagram is winning.
A study by CivicScience has found that Snapchat has been losing around 2% of its millennial audience since the last quarter, while Instagram has been gaining 2% in the same demographic at the same time.
All of that said, Instagram is a 2 for 1 deal and is set up for business accounts. Not only do you have a platform to house the aesthetically pleasing photo of your business, but you can also share with your users in real time. On your stories, you’re able to do much more than Snapchat including, active website links, hashtags, and geo-targeting, all of which should create a greater ROI.
I could go on and on about why Instagram is a better choice out of the two, but I will save that for another post.
If you don’t have to choose between both and have the resources to adequately market on each platform, it’s silly not to. Yes, I think there are much more opportunities for a marketer on Instagram, but Snapchat still has millions of users for you to reach.
So, Is It Dead?
I don’t necessarily think Snapchat is “dead,” but I do think they hit their peak. Luckily, their latest update has removed some of the mess that was released in February making it easier to navigate the platform.
All in all, Snapchat will always have a unique audience, but whether it’s the best fit for your business over other platforms, is for you to determine based on your budget and resources.
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