All About Snapchat’s Success – Snapchat’s Secrets Exposed
Snapchat, the third most popular social app amongst millennials, is now at an estimated $20 billion valuation in 2016. The famed social app has shown tremendous growth over the years since its initial launch in 2011 and has an impressive 150 million daily active users worldwide. The question remains, what has led to Snapchat’s success? Is it just a fad? Ultimately, what can other businesses learn from their impressive prosperity?
Snapchat’s success is likely linked to their target demographic. Over 71 percent of Snapchat users are under the age of 35. And as most marketers know, younger populations tend to drive trends. They hold the most buying power, they are adaptable, and they are most willing to adopt new platforms. Although, does that mean Snapchat may just be a fad?
Authentic Real-Time Moments
It is a valid question to wonder if Snapchat is just a fad, but experts think otherwise, and here is why. Unlike other social apps, Snapchat has tapped into a change in consumer behavior. Users no longer have to broadcast their life updates to everyone. Instead, Snapchat is a platform that allows users to be selective, and plays on an increased desire to have one-to-one or one-to-few real-time communication. Disappearing video messages and photos is Snapchat’s differentiating feature, providing just enough authentic information for users to share a moment–– nothing more or less. Similarly, Snapchat can be the perfect brand extension. Brands can share authentic, real-time moments that involve the workplace, events, or even new product. The 24-hour time limit also gives their followers a sense of urgency, which every brand strives to create.
Snapchat understands exactly what their target audience wants, and then delivers just that. Some of these desires are user privacy and non-committal messaging. As mentioned before, the moments that users share exist for just a maximum of only ten seconds. If they are shared to their stream, or what Snapchat calls a “story”, they are viewable for 24 hours. Therefore, “snapchatters” feel safe when they use the app because snaps are permanently deleted after a set period of time. Additionally, commitment to anything is feared and avoided at all costs amongst stereotypical millennials. Users ultimately enjoy the ability to avoid their fear of commitment.
Something admirable about Snapchat is that they have maintained their mobile focus. Snapchat was specifically designed for mobile and remains to be mobile-specific. Not many other social sites such as Facebook and Twitter can say the same. And with the rise in mobile usage, their commitment to mobile has proven to work in their favor.
What Can We Learn From Snapchat?
Snapchat has, how millennials say; “slayed the game”. They studied their target audience, capitalized on growing trends in the way people prefer to communicate, and provided features that cater most to their target audience, such as user privacy and customizable features. They have successfully played on an innate ancestral preference for real-time communication that can be understood nationally and globally through use of pictures, videos, text, and various filters. In short, Snapchat is a perfect example of a company that understands who they are catering to while being adaptable to growing trends.
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