Snapchat is Growing Faster than Twitter and Facebook – Should You be Taking Advantage?

The video messaging app popular with Millennials and Gen Z now has over 293 million daily users

Snapchat is growing faster than it has since 2017, the year it went public.

Last month, the messaging app said it added 13 million daily users during the second quarter of 2021, which is a 23 per cent increase from the same period last year.

That means that 293 million people across the globe now use Snapchat every day, up from 173 million this time four years ago. By contrast, Twitter reported 206 million daily users in the same time period.

Snapchat’s revenue also soared by 116 per cent, more than Twitter and Facebook.

What is Snapchat?

Snapchat, or “Snap” as the kids call it, is a mobile app for Android and iOS devices with the core concept that any picture or video message you send – by default – is made available to the receiver for only a short time before it becomes inaccessible.

What are the apps main features and functions?

• Camera: You use your phone’s camera to take a snap or capture a video of up to 10 seconds long, you can then use all kinds of creative tools to draw or add captions, stickers and other effects to the snap.
• Snapcode: When you sign up, Snapchat gives you your own unique QR code, which other people can take a snap of to add you as their friend.
• Snap Map: This displays your location on a map in real time but only your Snapchat friends can see where you are (and you can see them if your friends have opted into Snap Map). If you don’t want your location to be known you can turn on Ghost Mode, which allows you to see the map but not be seen by others.
• Stories: Snapchat was actually the first platform to introduce Stories, before Facebook and Instagram followed suit. A story is a collection of moments in the form of pictures and videos that, taken together, create a narrative. You can create personal stories, that can be seen by friends for 24 hours, or send them into Our Stories which is run by the creators of Snapchat and can sometimes be shared across the platform.
• Discover: This screen offers content created by celebrities, news and entertainment outlets, and other users, which you can subscribe to. Promotions and advertising content is usually found here.
• Memories: If you don’t want your snaps to disappear, you can store them to send later.

Advertising on Snapchat

Snapchat’s self-serve advertising platform, Ads Manager, allows you to create ads, launch campaigns, monitor performance, and optimize towards your goals – all in one place.

You can target Snapchat users based on their interests, behaviours, location, and more.

The Snapchat audience is made predominantly of millennials and Gen Z (75%) and on average they spend over 30 minutes a day using the platform.

Types of Ads

There are a number of different ways businesses can advertise on Snapchat.

• Single image or video ads: This is a simple full screen ad that you can add a swipe up link to your website or a particular product.
• Collection ads: These feature four tappable tiles to showcase multiple products, giving Snapchatters a frictionless way to browse and buy.
• Story Ads: These are branded tiles that live in Snapchat’s Discover section. You can generate excitement around your brand or latest collection with a series of three to 20 single image or video ads.
• Lenses AR experiences: Lenses are a powerful and memorable way to connect with consumers using augmented reality.
• Commercials: These ads are non-skippable for six-seconds but can be up to three minutes long and appear within Snap’s curated content.
• Filters: These artistic overlays that appear after you take a Snap and swipe left or right can be customised with your company branding so Snapchatters can use them in their conversations.

Is it worth advertising on Snapchat?

If your core audience is Millenials or members of Gen Z then we think so – the platform provides so many different ways to get creative with advertising campaigns. It is important to note however that you will need decent creative content or the budget to invest in it before you even think about starting a digital marketing campaign on Snapchat.

Want to discuss a Snapchat digital marketing campaign for your business? Contact us and we can talk you through how to make the most of this rapid-growing platform.