When Snapchat debuted in September 2011, young people everywhere began sharing weird faces and connecting with friends through personalized photos. The app quickly took youth culture by storm, and has only grown in popularity over the past seven years. What some thought was going to be a quick fad (how many funny photos can you send after all?) has ballooned into one of the most popular social networks since Instagram or Twitter.
Snapchat has enough clout that marketers are taking advantage of this tool to connect with customers. Some have had great success, while others feel like they’re screaming into the void.
If you’re uncertain about whether Snapchat is right for your content strategy, or if you should try to connect with audiences on one of their favorite channels, then check out these six statistics. With this data, you can start to understand the power of this social network and the people who use it.
Snapchat Earned an Estimated $934 Million in 2017
Image via Flickr by pestoverde
The best way to understand the sheer growth levels and trajectory of Snapchat is to look at its income over the past few years. Its revenue in 2014 was a paltry $3 million, which grew to $50 million in 2015. In 2018, the social network is expected to make more than a billion in revenue and will continue scaling exponentially as more people and brands interact with it. From a pure growth perspective, Snapchat isn’t a brand that should be ignored or taken lightly.
37 Percent of Americans Are Active on Snapchat
According to the researchers at Smart Insights, more than a third of the total US population is on Snapchat, with user-bases increasing significantly when targeting younger audiences. More than 60 percent of all Snapchat users are under the age of 25, and 79 percent of Americans 18-24 use Snapchat on a monthly basis. This number drops down to 48 percent of 25-34-year-olds, and 20 percent of 35-44 years olds.
Any brand that wants to target younger audiences, from teen-targeted brands to young-adult products, can’t afford to ignore Snapchat for their marketing campaigns. If you’re not at the party that 80 percent of your customers are, then you’re going to get ignored and left behind. Even just testing this platform can help your business learn how audiences react to your brand to help you drive sales in the future.
70 Percent of Snapchat Users are Female
Along with being incredibly young, the Snapchat user base is also exceptionally female. Women make up 70 percent of total users, making it an ideal platform for health and beauty brands. The highly-visual nature of the social network means brands can easily create 15-second tutorials and encourage fans to share their own creations.
This doesn’t mean that female-targeted brands are the only ones that can use Snapchat, but it does mean that brands should focus on creating content for women, or content that women audiences could also enjoy.
45 Percent of Young Adults Prefer Snapchat Stories to Instagram Stories
Business Insider reported that 45 percent of 18-34 year-olds preferred Snapchat Stories, 21 percent preferred Instagram Stories, and 34 percent had no preference between the two. At face value, this data might not seem that significant, but it can make or break a brand’s marketing plan.
Customers are less willing to tolerate repeat content and will tune out your brand if you share the exact same video stories on Snapchat, Facebook, and Instagram. Furthermore, the pressure to increase marketing efficiency is pushing brands to consolidate their social channels and focus on a few platforms.
If your brand has to choose between sharing an Instagram Story or Snapchat Story, a Snapchat Story might have higher engagement rates and sales results. Naturally, this depends on the social footprint of your brand. Some brands have a massive Instagram following, where a story on that channel would be more effective. To determine which option is best, consider pitting Instagram and Snapchat against each other to prove their ROI.
73 Percent of College Students Would Open a Snap From a Brand They Knew
Brands with high-recognition levels have the highest percentage of connecting with new audiences on Snapchat. Considering 73 percent of college students would open a Snap from a brand they’re familiar with, they’re pretty open to connecting with brands even if they don’t follow them. Additionally, 69 percent of college students said they would be willing to follow a brand on Snapchat — even if they already followed them on other social networks.
This data highlights two points. The first is that it’s possible for you to grow your brand on Snapchat easily if people already know your name. The second point emphasizes the importance of unique content. If audiences are following your brand on multiple channels, then they likely don’t want to see the same content twice.
More Than Half a Billion Snaps With Filters Are Opened Daily in the US
Roughly three billion Snaps are sent daily, and more than half a billion of them use some sort of filter. These numbers tend to spike around major events and holidays, when people break from the norm and use Snapchat to record their daily lives.
Filters are a great way for brands to connect with users on Snapchat. A creative filter can increase shares, grow brand awareness, and build your following. They also add interest to snaps by making the stories stand out from the rest, creating more interest for users.
Furthermore, there is good news for brands that don’t have high levels of brand recognition: 45 percent of college students would open a snap from a brand they didn’t know. If you’re looking to grow your digital footprint, Snapchat is a great place to start.
Not every brand needs to be on Snapchat, and understanding its user base and popularity can help your company decide whether or not to start a Snapchat channel. If you do, your audiences might love engaging with your brand, responding to your content, and using your Snapchat filters to communicate with friends. The only way to know is to sign up and give it a shot.