SnapChat the most popular free messaging app that lets its users snap and share “disappearing” photos to their friends from their smartphone. Nowadays, Snapchat is part of a larger trend in mobile messaging. It follows the same way that some geeky consumers have , in the past. They use to rely on desktop messaging apps or social networks to stay in touch with friends, Snapchat provides a similar way for its users to communicate on mobile phones. It was launched in 2011, and now around 700 million snaps are sent every day. Currently, the app may possibly be worth $10 billion dollars. Due to rapid increase of popularity of social networking apps, teens and millennial are moving away from social networks like Facebook. And this “migration” is providing brands to target on Gen Y and millennial because, they are taking the unique opportunity of becoming early adopters on Snapchat.
So, who are the early adopters?
Even without the Snapchat Discovery service, the app has already emerged as a key medium for targeted marketing and messaging for certain audiences that includes Audi, Grub Hub, Mashable, Taco Bell, McDonald’s and street wear retailer Karmaloop. The list also includes the University of Michigan. Let’s take a look on the factors, that are driving more and more users towards Snapchat:
Snapchat emerging as a powerful brand: Snapchat is emerging as a powerful brand platform because of becoming a key medium for targeted marketing and messaging for certain audiences. Based on data collected from app charts, survey data, smartphone penetration numbers, and Snapchat’s own announcements Snapchat’s global user base is increasing at a very rapid rate. According to the press reports, prepared on the statements given by Snapchat’s executives – majority female are Snapchat’s users, and most of them are between 13 and 25.
High Engagement: According to the Business Insider Intelligence report published in 2013 – Two-fifths of 18-year-old teens in the U.S. use Snapchat “multiple times daily” to communicate with friends, colleagues and family. That’s probably a higher proportion than those users, who say that they use voice calls multiple times daily.
Globally appreciated and accepted: In short span of time, Snapchat has reached a top three rank in the iPhone app store in many of the world’s richest and most developed consumer markets, including Sweden, Australia, France, Norway, Canada, U.K. and the U.S.
Visual sharing feature is exploding: According to some surveys, sharing of Snapchat Stories increased 100% in the month of April & May 2014. And, everyday Snapchat Stories are now getting 1 billion views, while users are sharing 760 million disappearing photos and videos daily.
Snapchat has added a lot in its kitty: It has introduced a lot of marketer-friendly features since November 2013, including videos known as “Snapchat Stories.” Through this feature, millions of users can weave together bunches of photos and video into stories. Brands, too, are quickly adopting stories. Like with TV ads, brands can now make their 30- or 60-seconds long stories, a convenient and familiar option for advertisers. Also, Stories don’t disappear after a few seconds. Snapchat users can watch them again and again in a 24-hour period.
Brands are rapidly adopting Snapchat: We also look at what major brands including Audi, Grub Hub, McDonald’s, Taco Bell and streetwear retailer Karmaloop are on Snapchat. Also, notes usage by publishers like Mashable and institutions like the University Of Michigan.
Apart, from these there a lot many reasons due to which number of brands and users using Snapchat is increasing at a very rapid rate. However, Snapchat does pose certain snags, as every app does. Success of Snapchat and increasing adoption rate has proved that market for social networking apps is still booming and will remain same for many years
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