In 2014, Snapchat shocked the Tech community by refusing a 3 billion dollar offer from Facebook. This social network holds a special place in teenagers heart and it's one of the reason why the most famous (but also the older) social network was willing to buy it.
As if Mark Zuckerberg was willing to punish Snapchat arrogance, Instagram (bought by Facebook in 2012) launched Instagram Stories in August 2016. Nothing innovative here, just a copy of Snapchat's concept.
Since then, some analyst tend to say that Instagram will slowly kill Snapchat. On the marketing level, I think it's very true, for 4 reasons:
1. INSTAGRAM HAS MORE USERS
No secret here. 500 millions of daily users for Instagram, and only 150 millions for Snapchat (which is still more than Twitter apparently by the way). Advertising and brand marketing is more relevant on Instagram since it's possible to reach more potential customers.
2. INSTAGRAM STORIES ARE MORE ADVERTISER FRIENDLY
For a long time, influencers, brands and businesses have been willing to use Stories for marketing. To do so, they were redirecting followers from Instagram to their Snapchat account.
It was kind of predictable that Instagram would, someday, fill this gap and answer to this need.
Now it seems less usefull for advertisers to redirect people to their Snapchat account.
3. POST ON TWO DIFFERENT STORIES IS USELESS AND INSTAGRAM IS MORE COMPLETE
Let's be honest: we tried for 2-3 weeks to post stories on Instagram and Snapchat at the same time, but there is no sense to do so, and time is money.
Everything Marketers need is on Instagram: photos, videos, and stories (which can also substitute to live apps like Meerkat [RIP] and Periscope).
4. PROPER ADS DON'T FIT IN SNAPCHAT
Instagram is mature like Facebook and their users are now used to see some ads while scrolling down the feed.
Snapchat is like a shelter for young people from 18 to 25 years old, with no parents, more privacy and less ads. But like all the companies, Snapchat needs money and is now trying to put some ads in its stories. By doing this, the company is losing on both counts: ads are fustrating for the users, and they are still less impacting that Instagram's ads.
Marketing is easier and more efficient on Instagram, but advertising is not the only goal of social medias.
As marketers, we tend to look at social medias as advertising tools. In the battle to attract brands and businesses, Snapchat is clearly not winning. But still, this social media holds a special place in users heart.
Zuckerberg can do anything he wants, he will probably not be able to change the way people look at Snapchat. There is something about intimacy, in the user experience, the interface, and the identity of this social network.
Facebook always had this "too public social media" image. When people from my generation were getting in touch on Facebook, they used to say "let's talk more privately on MSN messenger!". Nowadays, to connect with someone on Snapchat means "Let's get personnal!" and this kind of position has no price, not even 3 billion dollars.