Snapchat Is Growing Up - Here's Why

So Snapchat just secured another $1.8 Billion in funding after making $59 million in sales in Q4 last year. It has well over 100 million daily users, is growing fast and most people on this list have no idea what it is or how to use it.

Here’s What I Know To Be True

If I use a social platform - like Twitter or Instagram - and I see that a business I’m interested in is also on the platform - I will check them out.  I will spend more of my time looking at the business and potentially interacting with them.

The thing is that over time, social feeds have become a lie, nothing more than a carefully curated version of what the poster wants you to see.  This is as true of Business’ feeds as it is of that annoying friend on Facebook who seems to live the perfect life.

Honest Is Better Than Perfect

In a world saturated by marketing messages that don’t live up to their promise, people are hungry for the truth - the real, unedited, uncontrolled version of who and what you really are.

Snapchat’s ephemeral nature rewards immediacy and places a heavy ROI on high production values.  It’s winning the social wars because it’s the network that provides the truest and fairest reflection of what a person or small business is actually like.

Markets Form Where People Are

I wrote about Snapchat at the beginning of March with a recommendation that unless your target market was Millennials you didn’t need to be on the platform - I also said that recommendation may change over time.

With over 200 million people and usage growing rapidly, I don’t think as marketers you can ignore it any more.

Feeling a little down? Listen to this, it really helps you feel better.

Image Credit:#Snapchat me, Ryansings by Ryan Nagelmann on Flickr

Curious About Snapchat?

• 200 million+ users - growing rapidly
• Driven by Tweens & Millennials (and social media gurus!)
• Brands are all over it

Ephemeral Advantage

The biggest thing to wrap your head around is that information on Snapchat is temporary - it has a shelf life between 1 second and 24 hours - but after that - it’s gone.

This is its core point of difference and its core advantage.

To the generation who grew up with the internet, who subscribe rather than buy, who don’t own but share - not having to worry about storing something is actually freeing.

Authentic Information

Content is either 10 second videos or photos with text or sticker overlays.  You can’t use a video you created for YouTube or take your favorite Instagram photo and upload it - everything is created and experienced inside the app.

When something you share has a super short shelf life - there’s no real point in spending time making it look great.  As a result - the photos and videos on the platform are raw and honest and often humorous.

If social media so far has been our idealized selves - Snapchat is our actual reality.  

Stories & Interaction

During a 24 hour period you can add your photos and videos to “Your Story” - a continuous loop that strings them together to show your day’s “story” - after 24 hours the content is erased and a new story begins.

This the part of the app that is gaining traction and the one advertisers are most geeked about.  I know this all sounds odd but bear in mind that there are in-app celebs whose stories get watched on a daily basis by up to 4 million viewers!

Should You Be On SnapChat

Unless your primary target market is Millenials and you have an additional 30 minutes every day to personally invest in marketing - my view would be - not at this time.  I suspect that recommendation may change over time...

Written while listening to: Frustration by music2work2

Image Credit: Snapchat