Ask anyone at an agency what’s the most vital social media platform to utilize and it will be guaranteed that Facebook will be the answer given by the majority of individuals. That’s understandable due to that fact with over 1 billion active users, Facebook reigns supreme over other social media sites.
However, in the area of video content, Facebook has competition from up-and-coming messaging app Snapchat, which was founded in 2011. The potential of Snapchat is so apparent that in 2013, Facebook looked to acquire Snapchat for $3 billion dollars; a deal that was declined by founders Bobby Murphy and Evan Spiegel.
Snapchat works in several different ways. "Snaps" are picture or video messages taken and shared with friends in real-time. Users can view snaps for up to 10 seconds with the ability to combine several snaps to form a “story.”After a photo is taken, Snapchat users can edit photos using various filters and special effects. In addition, geofilters allows users to show the location where the photo is taken. The biggest difference between Snapchat and other apps that utilize photos and video is the fact that there is no permanent content on Snapchat. All Snapchat stories are erased after 24 hours. In addition, once a message is viewed by an individual, they can no longer view the content.
Companies such as iHeart Radio, People, CNN, ESPN, and Food Network are reaching users with content exclusive to the app. Musicians and athletes are utilizing the app as well to provide behind the scenes access to their fans.
Millennials make up the majority of the app’s users. With Snapchat’s user based being concentrated in that age group, now is the time for businesses to assess their target audience and determine where the app fits in their social media strategy. Brands have flocked to Twitter due to the ability to reach a younger audience. Snapchat presents the opportunity to use video content to keep target audiences engaged in new ways that Facebook and Twitter can not.