The New Year 2016 is here, and as your prepare to walk through your resolutions, Snapchat is also gearing towards the same and in fact, the result might be shocking to Twitter.
According to MEC Global, a big buyer of social media ads that also works with clients such as GoDaddy and Marriott, Snapchat is the app to watch out for in this coming year. The firm acknowledges the changes that the chat app has added to the platform on advertisements this past year as a major factor towards this conclusion.
The company has tried to solidify their offerings to advertisers and even further tied the video products together, something that has gotten lots of companies excited about the new prospects on the table.
Snapchat’s rise to power
Snapchat entered the ad space in October 2014 and since then; it has gone through thick and thin to arrive at a point of being considered as the app to watch out for. In its initial days, just like any other service, the ad program had lots of issues that resulted in a frustrating experience. Some advertisers were of the view that the demand was higher than the supply Snapchat was offering, something that led to unconvinced agencies and advertising companies about the abilities of this photo sharing application.
Despite the bumpy ride, Snapchat is for sure of course. Now, you won’t find any concrete data about how effective the company’s ad business is when compared to the likes of Google, Facebook, and even Twitter. But based on the many below-the-belt updates and enhancements that have been flooding the app, this will be available very soon. Other reports also suggest that the company has been employing proactive methods in its staffing efforts in a bid to get the best talent in the market.
In recent times, Snapchat also brought in more targeting options that allow advertisers to target their ads to specific age groups based on the devices in use, the location of users as well as the context of the ad. There are also dozens of new ad formats the company has rolled out, among them sponsored lenses where users can easily overlay graphics as well as animations over their photos in addition to a native video ad tool known as 3V (Vertical, Video, Views).
Even though Snapchat has added plenty of features to its platform ever since the ad business kicked in, the most exciting addition is the app’s video story. With this feature, Snapchat could easily beat the likes of Twitter when it comes to advertisement revenue.
According to MEC Global, Twitter has yet to work on a compelling story that is built around video. Also, the firm says that Snapchat is already tying itself to current events in ways that Twitter has already jumped into, which makes it a huge threat to the latter’s business. However, given the size of Twitter, it would be hard to imagine a small and younger company like Snapchat coming in and taking over. Snapchat has a user base of more than 100 million yet Twitter boasts of more than 320 million active users per month.
Twitter also has its way of attracting users with the likes of Moments, Vine and Periscope doing just as fine. However, given that the company has already been outshone by closer rivals such as Facebook and YouTube in the video front, it might just be the perfect opportunity for Snapchat to take its place in this tightly-contested industry.