Is Snapchat really the way to go for your small business? Low growth numbers in Q1 2017 and stiff competition from the likes of Facebook and Instagram Stories have business owners wondering if this video app might self destruct just like the videos and pictures sent on the network eventually do.
However, if you think about best practices when using the app, Snapchat can still be a decent arrow in your marketing quiver. Here’s how.
Is Snapchat Good for Business?
On the Downside
Even the decent growth rate of the company’s wearable devices known as Spectacles couldn’t boost the sagging numbers — only 5 percent growth in Q1 2017. It’s a slight bump from the 3.2 percent in Q4/2016 but a noticeable drop from Q3/2016 stats of 7 percent. What seems to make matters more disturbing is the fact this is the first quarter since the mobile app went public.
Translation? There’s a big concern the mobile app might be sputtering out and not just a little hesitant coming out of the IPO gate.
On the Upside
There were 166 million users in Q1 and the app is growing. Combine that with the fact that most of the users are under 34 and the number of American 18-34 year olds with a Snapchat account is 32.9 percent . That means there are established markets here that are solid even in the wake of the disappointing Q1 numbers.
Translation? There are a few features here you can use to market when you already know who you’re trying to impress and they fall into the above mentioned category. Coupons, giveaways and interesting video snippets from your business offer the personal touch to any well defined market segment, and Snapchat has a few including college students.
Snapchat Stories is almost enough to offset the disappointing numbers by itself. You can use stickers and text captions to post a series of images and videos in a sequence to tell the story of your brand. Of course, now competitor Instagram has a stories feature too.
There’s a place for everything and everything has a place. You might not be able to cast your marketing net as wide with Snapchat as with, say, Facebook or Instagram. However, creative minds can use the app as part of an integrated marketing campaign to link social media and live events.
Snap Inc. Photo via Shutterstock