Has Snapchat lost its appeal now that Instagram stories has taken over?
Just over a year ago, Instagram launched its controversial feature ‘Stories’. Controversial because it is indisputably a copycat feature of the already existing Snapchat Stories. Both apps allow users to send photos and short videos to friends, that then disappear after 24 hours.
Whether you think the move was fair or not, the success of Instagram Stories cannot be denied. From its not-so humble beginnings in August 2016, under the wing of tech giant Facebook, Instagram had one major advantage over Snapchat – its reach. At the time, Instagram boasted about 300 million daily users, while Snapchat had approximately 150 million daily users. Because of this, it took a quick 3 months for Instagram Stories to surpass Snapchat in its number of daily users.
Today, Instagram Stories has 500 million daily users. To give you a little perspective, that’s like every single person living in the USA, Japan and the UK combined – sharing stories,every single day. Snapchat’s 173 million daily users (as of May 2017) sounds a little dismal in comparison. To say the Instagram feature has been successful is a bit of an understatement.
So does this mean that Instagram has won the age old rivalry? Are the days of Snapchat done and dusted?
Well maybe not. While Instagram takes the cake with the amount of daily users, Snapchat is still very appealing to a younger demographic. 60 per cent of Snapchat users are under the age of 25 and according to Nielsen research (funded by Snapchat), the app reaches 41% of Americans between the ages of 18 and 34.
In addition to its ‘human’ and visceral nature, Snapchat’s success can most likely be attributed to younger people wanting a safe haven away from the larger community (and their parents). Because Instagram and Facebook have an older demographic, younger people have tended to flock to Snapchat to communicate more privately with friends. Unlike the large and fast-growing user base on Instagram, Snapchat users can communicate with close friends only, without having to broadcast their day-to-day activities to a wider community.
With more eyeballs on Instagram, the app definitely has the advantage when it comes to drawing businesses to the platform. In fact, half of all businesses on Instagram used Instagram Stories within its first year. And more businesses on the app leads to more advertisers and more money.
So, although Instagram Stories might have the larger user base and financial edge, there still seems to be a place for Snapchat, for now.
If you would like to find out how you can use Instagram for business, talk to a consultant at Green Door Co today.