Oh snap! Have you overlooked the hottest social platform?
This morning we were looking at some recently compiled emarketer research about the image-and-video sharing smart phone app Snapchat and it spurred an interesting discussion.
Launched in 2014, the social media platform is preparing its IPO. That should mean that it will be around for a while, at least. The numbers show an impressive upward trajectory:
- Snapchat is used by 52% of U.S. daily social media users.
- The platform has displaced Instagram, Twitter and Facebook to sit in first place as the preferred social media site among U.S. Teens (spring 2016).
- Snapchat is number 3 among the top 10 favorite U.S. mobile apps used by college student internet users (December 2015).
- The app has impressive market penetration, with 64% of 18-24 yr. old social users and 31% of 25-34 yr. old social users adopting the app.
- Snapchat is forecast to grow approximately 37% between now and 2020.
Sharing snaps with your friends and family is one thing. Will users embrace marketers on this platform? As a B2C business or retailer, Snapchat may turn out to be an ideal social marketing platform for you — if your product or service appeals to the under 35 crowd. Snapcodes, geofilters and sponsored posts are a few of the Snapchat marketing strategies that can generate buzz. More opportunities for paid advertising and promotions will likely follow after the company goes public.
B2B marketers may be quick to dismiss the platform, and for good reason. After all, the demographics overwhelmingly point to younger users. App filters skew to our sillier sides, which may be a turn-off for a more sophisticated clientele. Still, clever marketers will find a way to draw influencers and decision makers from the 35+ set who do use Snapchat (and who may be among your customers and business partners). The upside is less noise from competitors. Compared to the cost of entry in traditional media, dabbling in a social platform such as Snapchat can be a reasonable proposition.
While Snapchat is a current social media darling, social media audiences are fickle and dynamic. They ebb and flow, often using one platform extensively for certain topics and engage in others when seeking advice or insight. Users are quick to try new platforms as they come along and just as quickly abandon them when they no longer amuse or add value. That means the social platform that works for you today may not be where your prospects and customers are tomorrow. Across the social media realm, it’s essential to be present and active where and when the social conversations about you, your product or service, and your industry take place.
If you’d like to learn more about how social listening can help grow your business, or how we can help you identify which social platforms your customers and prospects use, give us a call. We’ll be happy to offer insights and strategies to help you maximize your results.