Earlier this month, Snap Inc, the parent company of Snapchat opened their IPO. Forbes and Fortune both declare it a failure. In a matter of a couple days the prices went from $17 to $27 to $14. But this article isn’t about investing in Snap’s stock. This article is about whether you should invest your time in marketing on Snapchat.
According to published findings by Sprout Social, SnapChat is the third favorite social media choice for Millenials. “Millennials were more evenly split their vote between Facebook (33%), Instagram (22.2%) and Snapchat (15.8%). ” Baby Boomers and Gen X’ers prefer Facebook, YouTube and Instagram. The Millennials can be elusive, so Snapchat might be a good place to find them.
Teens hang out with Snapchat. Not having a license or a car, having friends that may be at other schools or in sketchy neighborhoods, makes hanging out and snapping a safe alternative. According to the “2016 State of Social Business” you have to be careful how you talk to them on Snap. Quoting the following reasons: “I follow stories on Snapchat and use it to communicate with my friends. I’m there for my friends, not brands.” and “I notice when a brand is talking specifically to me and I pay attention.”
360 videos are more popular on Snapchat than other social media. However most people using the 360 capabilities are in the entertainment industry like movies and cable networks. Not familiar? Learn more about 360 here.
Media outlets in general are building their brands with Snap by creating specific “shows” and adding additional content to the shows they already have on their networks. eMarketer notes that for 2016, online had more usage by all generations by 95 minutes per day.
The Argument Against Snapchat
Snap itself admits that gains in new users are dropping. Some say it’s because Instagram, having been bought by giant Facebook has created video and picture sharing similar to the Snapchat. And the users on Instagram are using Instagram more than Snapchat.
Snapchat gives you no reason to feel attached to it. This is an inherent flaw in the disappearing content. There are no profiles, there is not library of your videos or pictures, compared to Facebook that has everything and keeps it forever. You’re less likely to delete a social media that has all your pictures, than one that has nothing saved for you. (With the exception of Snap’s “memories”). And no matter how much you video on Snap, only the last 10 seconds can be sent.
Snapchat eats up your battery, has a laundry list of features that don’t always work well, and has no discretion on what type of advertising they serve up you. As opposed to other social media that don’t deplete your battery, features that are tried and true and useful, and advertising that is targeted to you by demographics and interests.
If your marketing is targeted and creative enough Snapchat might be just the place for reaching Millenials and Generation Y and Z. But for more mainstream marketing, the king is still Facebook.