A few months back I started using SnapChat as my digital marketing team planned on creating marketing services for SnapChat seeing it's amazing growth but just few weeks back we completely withdrew our Idea and moved out of this platform.
Personally, it was the weirdest platform I ever used! The only way to create a follower base was to promote your SnapChat code on your other social media platforms where you already have a follower base and why would someone do that? Just so you can connect with your followers more personally uploading snaps 24/7! Well, you can do that now on Instagram as well on WhatsApp and soon on Facebook too. So what is left for SnapChat now? Nothing! People will slowly leave this platform as they left myspace, Orkut, periscope etc.
Remember the craze periscope had and how it became non existent as soon as Facebook started Facebook Live? All the influencers moved to facebook within now time! Youtube & Instagram has also started Live broadcasting on their platforms and periscope is dying a horrible death right now! Similar things will happen to SnapChat, it has nothing unique and only kids and teens use this platform for sexting, so unless you are a toy or teen clothes company there is nothing for you on SnapChat.
After Instagram introduced stories snapshot daily usage went down 20%. Just imagine when facebook which has 3 times the audience of Instagram introduces stories what will happen!
Recently SnapChat had it's IPO and the stock was priced at $17/share valuing the company at $23.6 billion the stock closed at over $24.48/share valuing the company at $28.3 billion. The company which had a loss of $115 million this year is valued at $28.3 billion! Why are people investing in SnapChat like crazy? Maybe they think it is the next Facebook and don't want to miss on the opportunity but what they don't notice is the fundamentals of the company and what is proprietary about them to be of interest to the people for which the answer is nothing! Robert Kiyosaki terms SnapChat IPO as the "Perfect Con" and it is true as the owners of SnapChat already cashed out $1 billion from the invested money and the stock is already down to $19.89. Read how the very people who use SnapChat bought its shares and are already losing money: What Snap's IPO Can Teach You About Intrinsic Value
So if you are an influencer or a brand stop wasting your time on SnapChat and instead invest that time on platforms like Instagram and Pinterest and if you are an investor in SnapChat its time to move out your money from the dying company.
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