Yes, Snapchat really is a big deal. Here’s why.
Chances are you’ve heard of Snapchat. You might even use it. All the cool kids do these days. And while the content on the platform was designed to disappear, the app itself isn’t going anywhere.
Snapchat is the home of the selfie, transforming individuals into rainbow-heaving, fluffy puppy, face-swapped caricatures of themselves. The app allows users to chat, post stories, send images, and follow others while moving among still photos, video, text, and voice calling. To an outsider, it appears to be just another social platform swarming with millennials. So what does this seemingly simple vanishing ghost have to do with you?
Well, a lot actually, as savvy business leaders already know.
There’s more to Snapchat than making your own personal picture book. Big brands (think AOL, GrubHub, and General Electric) are already hitching a ride on the early adopters bandwagon, and trust us, you’ll want a ticket. Check out these stats:
1. Approximately 150 million people are logging into Snapchat every day. That’s more daily users than Twitter. (Source)
2. In 2015, the company’s revenue hit the $100 million mark. That’s up $97 million from the previous year, and they’re targeting $300 million for 2016. (Source)
3. In a recent equity offering, Snapchat raked in $1.81 billion in funding, and rumor has it the company was given a valuation of $20 billion. (Source)
4. Thanks to a recent update, the app can now be used for just about any method of communication, including phone calls. (Source)
5. On average, 9,000 snaps are being sent per second. (Source)
6. Snapchat’s video views can reach up to 10 billion per day. (Source)
7. 60% of users are between ages 13 and 24. Hello Millennials! (Source)
8. Approximately 70% of users are women. (Source)
9. Snapchat is the second most-used social media platform behind Facebook. (Source)
10. The app grew as much in one year as Twitter did in four. (Source)
All these numbers translate into huge opportunities for building your brand and creating customer connections, especially those targeting young people and women. For instance, AOL recently used Snapchat as a recruiting tool to reach more female applicants, and GrubHub launched a contest to increase their one-on-one customer engagement, but the storytelling possibilities are, quite literally, endless.
If you’re looking to snag a ticket to snap-town, or curious about building your brand on other social platforms, give us a ring. We’ll help you discover the best way to integrate social media into your plan.