Having announced an IPO, it remains to be seen if Snap Inc. can be successful with imaging app Snapchat and please its shareholders, advertisers but ultimately its consumers.
That’s why Fluent, the mobile content organisation, surveyed 3,327 adults on their views about Snapchat longevity and user retention.
According to the key findings, almost half (48%) of American adults believe that Snapchat is nothing more but “a fad”, whilst 52% believe it’s here to stay.
Interestingly, 62% of respondents believe that there’ll be an alternative for Snapchat rolling out sooner or later which they will switch to.
Young people have a similar opinion. A majority of them do not believe they’ll still be using the app past the age of 35 years.
In addition, Snapchat advertising formats aren’t resonating with its users. The company has rolled out a wide variety of formats in order to catch up with Facebook and Instagram in preparation for its IPO, however, 69% of users said they skipped ads on Snapchat “always” or “often”. Advertisers have been turning to Snapchat specifically to reach its Millennial audience, but it turns out they’re the hardest to reach. 80% of 18-24 year-olds skip ads.
Snapchat did roll out dedicated content tabs across the app to allow publishers and media groups to feature their content. However, 61% said they didn’t follow news organisations, such as CNN and New York Times. Another 50% do not follow sports, whilst 57% aren’t following entertainment brands.
Branded content appears to be doing slightly better for competitor Instagram and its Stories feature.
Indeed, those aged between 25-44 years prefer Instagram Stories over Snapchat Stories. Fluent says that this may present a real blow for Snap Inc.
NewsCred previously highlighted similar findings that Snap Live Stories, Discover Stories as well as branded filters weren’t faring well with consumers.
Fluent also made a point of Snapchat not collecting any meaningful data. Indeed, the company did not announced any plans to enable businesses to use its data.
It seems Snap Inc. may be playing a long game, focusing on user experience as opposed to tapping into the opportunity of big data. However, data is power and money, so it’s something Snapchat will have to come around to – eventually.