Unlike what one might think, Snapchat hasn’t lost its way and bounces back like never before. We often talk about the great success of Instagram or TikTok, but the latest figures of Snapchat deserve to be highlighted.
Snapchat is doing better than ever
In 2017, Snapchat went through a difficult period as Facebook launched Stories. Moreover, in 2018, the TV show star Kylie Jenner almost put an end to Snapchat with a tweet. It was saying that she did not use the app anymore. Her tweet has been liked more than 320,000 times and the next day, Snapchat’s stock dropped on the stock market, losing more than $1 billion. However, despite the bad buzz, the application has since been able to catch up well. In a report published last week, the social network shows a constant increase in its number of users. In the third quarter, Snapchat reached 306 million daily active users. The application has grown by more than 23% in one year globally, the fastest growth in four years. The continued expansion of its user database and a wider range of advertising formats helped to more than double its revenue.
“In France, there are 17 million active users who consult the app 30 times a day. That’s a lot more than Facebook and Instagram. Its appeal is quite impressive on the Generation Z.”
Laurent Blassin, Head of Marketing Consulting at Fabernovel.
Its success can be explained by the fact that Snapchat is somewhere between a social media and a messenger. Unlike Instagram or TikTok where you put yourself on stage for your followers, Snapchat is a private network. Young users usually use it to talk with friends. It is more direct and intimate than a simple message.
“More than 75% of Snapchat users in the United States, Canada, France, the United Kingdom, Australia and the Netherlands are between 13 and 34 years old.”
Furthermore, advertisers are more and more interested in this social platform and are increasing their digital marketing advertising budget on it. The application provides brands with more relevant and refined campaign performance measurement tools than Facebook now.
“An advertiser can get information about who saw the ad, and how many of them went to their website afterwards. This is information that advertisers are no longer able to get through Facebook since the IOS 15 update which allows users to limit ad tracking.” Laurent Blassin, Head of Marketing Consulting at Fabernovel.
Trends & Innovations on Snapchat
The platform that celebrated its 10th anniversary in September 2021, saw strength featuring new social tools that are a real asset for marketers to reach the Gen Z consumers.
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Spotlight Challenges:
In terms of content, the Spotlight feature is comparable to what TikTok offers. It is heavily used and generated twice as many downloads during the second quarter of 2021. Earlier this month, Snapchat announced Challenges, a new feature through which creators can earn money on its short-form video platform Spotlight. This new trend promises cash payouts of between $1,000 and $25,000 to creators who do specific challenges. These challenges will be designed to encourage the use of specific Lenses, sounds or #topics rather than rewarding the best performing content.
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Snapchat Trends: social listening tool
In August 2021, the social network revealed the new feature “Snapchat Trends”. This helps marketers track new trends and seek insights into topics that are the most talked-about among younger consumers. It’s a platform-specific market research tool that brands can use to inform their marketing strategy. This listening tool allows marketers to know which products people are discussing and what kinds of activities they’re doing so they know how their brand stand out among competitors.
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Augmented Reality (AR)
Snap recently made notable efforts to build out its platforms for marketers. The app recognizes the growing role of social commerce, where content shared on the network can be closely tied to purchases. Snapchat stands out with new augmented reality formats that allow brands to directly generate sales. Especially as it is better equipped than its competitors for sales thanks to its lead in augmented reality.
If the Snapchat audience matches your marketing strategy, the platform is not to be neglected. In addition to the great insights it provides and the efficiency of sales-driven ads, influencer marketing is a tool that works well due to the spontaneous content the app offers. Do you want to expand your social media strategy? Contact us!