Is your business losing money because of Snapchat?
A few days ago, I had a meeting with a young businessman, let’s call him George. George wanted me to audit his company’s new Social Media strategy. They were investing a lot in Social Media in order to increase their product sales in minimum cost.
Of course, prior to our meeting I have given to him our Examine Phase Templates to fill. These are very specialized templates that help companies clarify who is their ideal client, what are they thinking, what do they love, desire or fear.
Once you have a clear picture in your mind regarding your ideal client, you can create an efficient & sustainable sales strategy.
However, if you don’t know the characteristics of your ideal client, I’m afraid you’re doomed to fail.
So, George had indeed filled up the Examine Phase templates. In fact, he worked hard in order to find his ideal costumer.
What he came down to is that his ideal avatar belongs to the 15–25 age group. A group usually very active on social media.
As expected, my next question had to do with the Social Media platforms his company is using in order to reach these customers. Facebook and Instagram were his first answers.
To my surprise he didn’t mention at all YouTube or Snapchat. Regarding the latter, he specifically said that his company doesn’t use Snapchat, because he personally doesn’t know how to use it.
So, this is the reason why I decided to share with you the ugly truth regarding Snapchat.
Well, lately, I read a lot of articles saying that Snapchat is losing money and users and that the app is collapsing and so on and so forth.
But, is that really the case?
In the video below I explain in details the reality around Snapchat and the reason behind all the theories that want Snapchat “dead”.
Ultimately yes, Snapchat may not be growing as fast as it was predicted. And there might come a time when it stops existing (following the path of MySpace or Hi5).
But today, a vast majority of 15–22 year olds are on Snapchat. Basically what this app is doing is “stealing” them away from Facebook. Yes, true story.
So when your company is trying to reach customer on ages between 15–25 or a maybe a bit older, it would be a brilliant idea for your company to be on Snapchat. This is where your current customers or your near future customers are. So where are you?!
Please do me a favor and don’t wait until your audience starts using more mainstream social media platforms (Facebook, Instagram) in order to create a relationship with them.
Cause guess what… Your competitors might be already on Snapchat and in a little while they could dominate that market segment. And as a result, this will make it even harder for your company to achieve higher sales.
At the end of the video I also explain how Snapchat works, why it is still “hot” and why users spend so much time on it (hint: it’s because of FOMO — Fear of Missing Out)!
What’s my tip? Build your social media strategy based on what Social Media platforms your ideal costumers use today.