Monday, January 16, 2017

Brands are on Snapchat...

...but they're not doing anything.

According to eMarketer, of all the brands that are on Snapchat, only 30% of them are actually active.  The rest have just claimed their platform handles and are sitting idle.

The chart below shows that brands continue to set up shop on the platform (the share of brands worldwide that have a Snapchat account by vertical increased across all verticals from January to September, 2016), but brands' activity rates are not growing in parallel.

This says three things to me: 1) brands know that they need to be on Snapchat because that's where younger audiences are hanging out so they're establishing a presence on the platform; but 2) they're not quite sure what to do when they get there, or don't have the infrastructure, resources, and/or creativity to support a true presence on the platform (which feels very much like brands entering the Facebook space for the first time early on); and 3) because of #1 and #2, there's a real opportunity for brands (across verticals) to capitalize on a relatively uncluttered competitive environment (for now).

Now is the time to experiment, fail, learn, establish best practices, and gain a loyal following--before every other brand starts realizing it's in their best interest to actually look alive on the channel and market on the regular.

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