The Influenece of Snapchat on Business Promotions and Social Media Marketing
Snapchat is a multimedia networking app, best known as a platform for users to send photographs and videos to friends that disappear within 24 hours. The app was created by the parent company, Snap Inc., which defines itself as a camera company that aims to reinvent the way people live and communicate. Since Snapchat’s inception in 2011, the app has rapidly grown to be one of the most popular social media platforms available. Today with over 190 million daily users, Snapchat has gained over 2% of the total market share of social media networks, used by small and large businesses alike. However, brands are still hesitant to use Snapchat as a main platform for advertising. Snapchat continues to report high engagement rates, account for large amounts of millennial users, and break new ground in augmented reality technology. The app struggles to compete with Facebook and Google in advertising revenue despite these significant characteristics. Marketers and advertisers should pay attention to the growing popularity of augmented reality in advertising today as well as the potential return on investment they could gain by advertising through Snapchat. This report will detail the influence of Snapchat on business promotions and social media marketing as well as explain why it should be a popular platform among advertisers.
Snapchat, augmented reality, social media marketing, business promotions, Snapchat advertising