Snapchat Goes Public
On March 2, 2017, Snapchat joined the stock market. Over 17 months later its stock still hasn’t gotten back to its opening day price. As much as the financial world confuses me, what this does tell me is that people and companies are using Snapchat less and less. Corporations are pulling marketing funds from Snapchat.
It’s been reported that users are unhappy with some of the changes. Snapchat responded by saying that they have no interest in correcting those problems. Famous people with large followings have publicly complained about the app and some even stopped using it.
With this happening, you would you think that Snapchat would want the users to be happy and correct it. If popular demand requests a doable change, don’t you think it would be in the best interest of the company to do so?
Unfortunately, Snapchat hasn’t listened to the requests of many, so users are leaving. A total number of daily active users in the first quarter of 2018 was 191 million. In the second quarter, it went down to 188 million daily users.
If you currently use Snapchat for business and find it successful, great! Keep it up. If you are considering adding it to your marketing strategy, then I would recommend a different platform. Instagram? YouTube?
Several large women-owned businesses that I followed on Snapchat started using Instagram stories instead. Instagram loads a lot faster than Snapchat and is easier to use. Not to mention, it’s already part of an existing app so it streamlines things a bit.
For questions or ideas for marketing on social media, please feel free to give me a call at 804.204.0084 or email me at [email protected].
*Stats from www.statista.com.*
