A digital fad or valuable ads?
Ten-second selfies took the world by storm five years ago, in the form of Snapchat. Millennials flocked to the app like bees to a hive, and now, 166 million users send snaps daily.
Amongst features such as ‘Filters’, ‘Stories’ and ‘Discover’, a new addition arrived last month: the ‘Snap Map’. This enables Snapchatters to see their friends locations and popular local stories all over the globe. As you can imagine, this feature didn’t come without controversy.
But the point is, Snapchat is feeling the pressure to innovate. Although the app’s popularity has had steady growth over the years, one social media platform has been stealing the limelight: Instagram.
Instagram haven’t hidden the fact that they’ve replicated many of Snapchat’s features, such as ‘stories’. They tapped into the care-free approach of Snapchat, allowing quick sharing without leaving a footprint. Originally, Instagram started out by offering users a way of posting well though-out and edited posts. But now, Instagram has both options and as a result, the appeal of the app has skyrocketed.
How can Snapchat win back users?
- Make it easier for people to find brands on Snapchat
Discovering a brand on Snapchat is difficult because the exact username is needed to add someone. Brands are struggling to see the benefits of using Snapchat and are either changing their tactics or switching to a different platform altogether. If Snapchat is able to change this, it’s likely that many brands would return and the users would follow.
- Focus on creativity and functionality
Snapchat’s main message at Cannes this year was, “Bigger isn’t better” (Although their huge Ferris Wheel conveyed a slightly different message). They’re clearly aware of their growth levelling out and are putting the focus on the app’s creativity and functionality. This makes sense because, no matter how exciting an app’s features are, the duplication of these concepts will inevitably appear on competing platforms.
If Snapchat can concentrate on keeping their users happy with fun new technology and simple functionality of the app, users are more likely to stay loyal.
- Involve influencers more
Multiple influencers are finding it harder and harder to get the support they need from Snapchat. Sallia Goldstein has a large Snapchat following but was recently forced to make the move to Instagram due to technical issues on Android. She told Buzzfeed, “It’s not because I want to move everything over to Instagram. It’s because I have to.”
By limiting their app this way, they’ll lose both influencers and their audiences. Some dedicated support to influencers could change all of that.
- More monetising options
Publishers prefer Instagram because they present more monetising options. For example, Instagram allows creators to link to external sites. And the increased length of videos have enticed many publishers.
Whereas, at the moment, Snapchat’s ‘Discover’ page is one of the only places to advertise — and the access to this is limited.
Snapchat is in a very powerful position, if they can appeal to advertisers and publishers on a larger scale, it could put them ahead of the game.
Coming back to the Snap Map, this could become a valuable opportunity for brands. It could potentially offer location based mobile advertising, leading to a more targeted reach and increased engagement. This could be the way to surpass the social media war and could provide some healthy competition against the Google/Facebook duopoly in the mobile advertising world.
Changes on the horizon?
Snapchat are on the look out for ad tech companies in an attempt to increase the efficiency of their ads and in turn, appeal to more marketers. There have been acquisition talks with AdRoll, the programmatic advertising platform, but no offers have been taken up yet.
Only time will tell if Snapchat will survive the social platform wars or merely become just another digital fad.
At Coull, we recognise the value of video content on the web and see the importance of keeping fun and exciting content accessible. We provide technology to monetise videos that effectively tell a brand’s message and keep content creators happy. Want to know more about what we do? Talk to one of our team.