There seems to be a race to the top of the social media world. All platforms, including Twitter, Facebook, Snapchat etc., are constantly changing and adding new features to win that top spot. So what is the most popular social media platform now? With an estimated 200 million monthly active users and over 700 million photos/videos sent each day, Snapchat, which was born only in 2011, is quickly gaining traction.
Snapchat is extremely popular with teens and millennials, but its demographic profile is expanding and the tech industry is taking notice. For example, Snapchat was offered a $3 billion all-cash buyout by Facebook and declined it. One reason it is growing fast is due to the fact that it is arguably the only social medium that imitates real life and creates a sense of connection.
Why Businesses Are Loving Snapchat
- Snapchat Geofilters – Snapchat Geofilters are a fun way to share where you are through Snapchat – and they are great for promoting brands and businesses too. Geofilters are location-based overlays that can be used with Snaps. On-demand filters allow businesses to design and launch their own Geofilter for a specific physical space for up to 30 days. This feature is perfect for something like a company event.
- Discover – Discover is a way to explore Stories from different editorial teams. Snapchat takes content providers and combines them with advertisements by using full-screen graphics, text overlays, animation, and sound. Discover creates a fine line between content and ads, so while people are looking through the ESPN Snapchat Discovery channel, for example, they will also see ads. If brands are interested in creating a campaign on Discover they have to go directly through Snapchat or through one of the Discover channel partners.
- Ecommerce Ads – Ecommerce ads are one of Snapchat’s newest features. When advertisements pop up between articles on the Discover feature, viewers can swipe up for more information on the product and company. Users can then shop the company’s website without ever leaving Snapchat.
Why Users Are Loving Snapchat
- Selfie Lenses – Selfie lenses are creative special effects you can add onto your selfies. Each day, Snapchat offers a variety of lenses to add to your selfies including a rainbow coming out of your mouth, a dog face, or the face swap which allows you to switch faces with another person. This fun feature keeps people checking back to see all the new filters for the day.
- Private Event Geofilters – Just like Geofilters for businesses, you can create Geofilters for your private events such as a birthday party or a graduation. This feature allows guests at your event to use the same filter to let their friends know where they are. The prices for the Geofilter start at only $5 and then go up in price. The price depends on a few factors including the time period you select and the size of your geofence, meaning the size of the area around the location you wish to target.
- Live Stories – Live Stories have turned Snapchat into a broadcasting platform. Live Stories could be compared to a real-time live documentary. They can be anything from a behind-the- scenes sneak peek at a special event to what’s going on in New York City that day. You can submit your Snapchat to a Live Story only if you are actually at a Live Story event – just make sure to have your location services turned on. However, the chance of getting chosen to be part of a Live Story are slim since they get thousands of submissions per Story and will only choose about 50. What is so unique about Live Stories is that it’s a collection of different perspectives from people all at the same event or in the same city, creating one story, forming a sense of connection with complete strangers.