Making Facebook Look Like Old School
A new study conducted by the marketing firm Sumpto, who specialize in connecting brands with college students, says the photo messaging social media app Snapchat has snagged a huge chunk of the college market – 70% of college students “ use the app one or more times a day”. They’ve done this in spite of the fact that Facebook has introduced its own form of the offering (Slingshot), albeit with a lukewarm reception. Only 2% of this same audience says they have downloaded Slingshot. Snapchat touted in May of this year that its users were dispatching 700 million photos and videos daily and that Snapchat Stories were being read 500 million times a day. The app firm turned down two multi-billion dollar buyout offers – one from Facebook, one from Google.
(Let’s also put this out there in the “Huh. That’s interesting…” bucket – Snapchat was started on a college campus by two savvy students. A third student was also involved and has sued the other two for stealing what he sees as mainly his idea. Sound familiar?)
So why is Snapchat the newest BMOC (look it up)? The study and other reports point to a few reasons for the app’s popularity. User’s think:
Snapchat offers a more security (because the media you send disappears after a very short time from both the user’s device and Snapchat’s servers, but we all know this could be false sense of security…)
Snapchat functionality lowers the risk of an automated mass-sharing
Snapchat is more spontaneous. (the main use for Snapchat seems to be for posting funny/silly stuff. Slightly over 59% said that’s what they use it for.)
Snapchat is foot-print free (digitally speaking)
Outside of this sort of thought-provoking info about a battle between a David and a Goliath app, what does this mean in the business world? Here’s the thing. Snapchat seems to be gearing up for something big – investment-wise. They just agreed to sell a bunch of shares of itself. And Snapchat is playing with new features directed at brands and events. So what? Because, even if the reality is that Facebook is still the number one social media engine and isn’t going anywhere, if your demographic target is college students, you better sit up straight and pay attention to this app.
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