Snapchat is the fastest growing app along with being an interesting marketing tool. It’s attracting many users consistently and investors love it too. The most quoted figure of its daily active users is 5 million. It is estimated that users share around 400m snaps in a day, a figure which has increased substantially in number since October 2013 when it was 20m. Another interesting fact about Snapchat is that it has crossed photo sharing numbers of Facebook. It is reported to be valued at $3.5 billion.
What It Does
Snapchat is an app that lets its users send pictures or a short video message with the advantage that it self-destructs. Like a genie in a bottle, your picture, message, or 10 second video will disappear in a few seconds after it is viewed.
How Is It Helping Marketers?
Marketers are already using Snapchat to their advantage. A ten second video may not seem much compared to a proper video advertisement. But, more and more businesses understand the potential Snapchat has to offer. With the increasing number of users it has, marketers are using it to reach out to customers with quick peeks of product images, fleeting promotions, and contests in real-time.
Here is how the frozen yogurt company 16 Handles claims to be the first to use Snapchat to its advantage: it crafted a campaign for customers who sent a snap to their 16 Handles account to receive a 10 second coupon. They knew already that the audience was on Snapchat, it allowed them to engage their customers and promote their brand using an exciting medium.
Marketing through Snapchat is both risky and appealing for marketers as the snap or video disappears in a short time. Taco Bell, the fast food giant has utilized the app to launch its Beefy Crunch Burito. They say that the campaign using Snapchat is about building brand loyalty and the real-time aspect creates a personal touch. When someone receives a Snapchat, the experience is as real as receiving a personal call from the source which is just for you.
Snapchat is not going to stay static. Its developers have many ideas in the pipeline to make Snapchat even more interesting. With features like Snapchat Stories and SnapKidz, it plans to make it the ultimate app. Using Snapchat stories; it lets user’s link photos and videos together to make it into a story. Photos last for 24 hours using this feature. So for marketers, Snapchat has a lot in store which they can use to their advantage by building their marketing campaign around it.