For marketers, Snapchat ranks near the top of the list of “hot new things.” The social media platform is hip amongst younger demographics, and brands are just beginning to find their footing with branded stories and filters. But will Snapchat continue to reign supreme? Here’s what’s coming next.
1. Stiff competition. Snapchat capitalized on the trend of social messaging becoming more visual. However, so has the social media heavyweight, Facebook. Facebook’s acquisition of Instagram in 2012 showed the social networking giant’s commitment to the space. But recent products and features, including Instagram Stories and Facebook Live, demonstrate that Facebook now “gets it” and is making the necessary investments to be competitive. Expect to see new features, new products, and new competitors as the visual messaging space continues to heat up.
What’s the story with Instagram?
2. Changing demographics. Snapchat is wildly popular amongst millennials, with 60% of US 13- to 34-year-olds using the app. But the youthful vibe may not last – as of February, more than half of new users are over the age of 25. I joined Snapchat a few years ago to see “what the kids are up to these days” but abandoned the platform for personal use because none of my friends were cool enough to use it. But that is now changing: suddenly my peers are snapping left and right. While my own parents have yet to join, it is only a matter of time before they can’t resist the adorable baby pictures like the below (and who could blame them??). It won’t be long before you start to see snaps from mom, Aunt Judith, or even grandma (yes, Snapchat skews female). And the addition of older generations is sure to cause ripple-down effects: will party-goers still be comfortable posting their exploits to stories, knowing that dad could be watching? Expect updates as Snapchat tries to stay cool.
Snapchat: Now for moms
3. New horizons. Snapchat CEO Evan Speigel has made it clear that he sees Snapchat not as an app, but as a camera company. His statement in April looked backward to Instagram, which essentially replaced the default camera app for some users, and ahead to the launch of Snapchat Spectacles, a pair of sunglasses with a literal camera built-in. What’s more, with the recent launch of world lenses, there is speculation that Snapchat is setting itself up to enter the augmented reality space. The wearables and augmented reality industries are still nascent and the future is hazy. It’s hard to predict exactly where each will land, but it’s clear that Snapchat will be a player.
Augmented reality? Or merely rainbow-puking clouds?
The verdict. Snapchat remains a critical area of investment for marketers and communication experts as it expands to new demographics and prepares to enter new industries. There are two likely outcomes: first, that Snapchat becomes even more dominant, ala Facebook – in which case, marketers need to be developing their expertise now. Or second, that Snapchat bows under pressure from competitors and goes the way of Vine – in which case, the lessons that marketers learn about shortform video content and photo messaging will doubtless apply to whatever replaces it. Which outcome do you think is more likely? Share your predictions in the comments.
References
Asano, E. (2016, January 25). The Snapchat statistics every marketer needs to know. Mediakix. Retrieved from http://mediakix.com/2016/01/snapchat-statistics-2016-marketers-need-to-know/
Bishop, B. (2016, November 12). Snapchat Spectacles are here and they are ridiculously fun. The Verge. Retrieved from http://www.theverge.com/2016/11/11/13601938/snapchat-spectacles-specs-filters-photos-video-hands-on
Heath, A. (2016, November 8). Snapchat’s latest update reveals its grand strategy. Business Insider. Retrieved from http://www.businessinsider.com/snapchat-world-lenses-update-2016-11
Instagram. (2016, August 2). Introducing Instagram Stories. Retrieved from http://blog.instagram.com/post/148348940287/160802-stories
Kolowich, L. (2016, April 27). 10 of the best brands on Snapchat right now (and why they’re so great). HubSpot. Retrieved from http://blog.hubspot.com/marketing/snapchat-best-brands#sm.00012duewlg8gcsxtp022xi19wgym
Newberry, C. (2016, August 24). Top Snapchat demographics that matter to social media marketers. Hootsuite. Retrieved from https://blog.hootsuite.com/snapchat-demographics/
Raftery, B. (2016, October 27). RIP Vine, the platform that made 6 seconds feel like a lifetime. Wired. Retrieved from https://www.wired.com/2016/10/rip-vine/
Sherretts, D. J. (2016, April 30). According to its cofounder and CEO Snapchat is mainly “a camera company”. TechCrunch. Retrieved from https://techcrunch.com/2016/04/30/according-to-its-cofounder-and-ceo-snapchat-is-mainly-a-camera-company/
Simo, F. (2016, April 6). Introducing new ways to create, share and discover live video on Facebook. Facebook. Retrieved from http://newsroom.fb.com/news/2016/04/introducing-new-ways-to-create-share-and-discover-live-video-on-facebook/
Wagner, K. (2016, February 29). Snapchat users now watch eight billion videos per day. Recode. Retrieved from http://www.recode.net/2016/2/29/11588352/snapchat-users-now-watch-eight-billion-videos-per-day
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