The stigma I hear the most in regards to Snapchat is that it is only good for sexting. I’m here to tell you that is just not true.
While the fact that I have daughters growing fast scares the daylights out of me, I’m not going to let that fear block my view of what is on the horizon with Snapchat and the business world.
According to Scott Martin of USA Today, “Snapchat has snagged $50 million in funding for its wildly popular photo- and video-based text messaging service.”
Ask yourself why they are getting funding at such a high rate. Now ask yourself why Facebook has offered them $3 BILLION to buy them out. Now ask yourself why they refused Facebook’s offer.
The answer is there is much more to Snapchat than the negative uses it is being recognized for right now.
Why Snapchat Has a Bad Rap
First, let’s get familiar with Snapchat. While it is taking the world by storm, a vast majority of the population over 30 may not have heard about it.
According to the explanation on the Snapchat Wikipedia page, “Snapchat is a photo-messaging application. Using the app, users can take photos, record videos, add text and drawings, and send them to a controlled list of recipients. These sent photographs and videos are known as “Snaps”. Users set a time limit for how long recipients can view their Snaps (as of December 2013, the range is from 1 to 10 seconds), after which they will be hidden from the recipient’s device and deleted from Snapchat’s servers.”
Basically, a user can send whatever media they want, to a selected user or group, and then it disappears. You can see why teens and 20-somethings like the service and how their preferred use can give Spapchat a bad rap.
For each of us that have kids, this use of Snapchat and it’s implications is scary. But as I stated previously, don’t let the that fear block your view of something potentially great.
Snapchat: The Next Big Thing In Couponing
It all stems back to our American love of a deal. A good deal that is.
We flock to services such as Amazon or any retailer that advertises something at 52% off or more. Amazon Lightening deals sell out faster some days that they can get the deal shared with everyone. I recently received a deal notification, went to Amazon, and it was already sold out.
What does this have to do with Sanpchat? Everything, as far as their potential is concerned.
Snapchat’s unique ability in the social media world to display digital media for a specified period of time, and to a specific user group, can be lightening in a bottle for retailers.
Can you say “Snapdeals”? (As far as I know, that is not an official Snapchat deal name, but it may very well be soon)
Just think of the possibilities. “Next snapdeal in 1 minutes, 35 seconds”.. “Don’t miss our snapdeals! Coupon code available for 30 seconds only!”
This could mature into a new discount marketing craze in the eCommerce industry.
“Snapdeals” and Black Friday
Black Friday is bigger now than it has ever been. Retailers may be able to take the shopping day to an even higher level with Black Friday “Snapdeals”.
Snapchat’s aforementioned unique ability for users to share media that disappears in a selected time frame may be able to benefit selling tactics on Black Friday.
“Snapdeals” may be a tactic stores can use to keep consumers in their store and shopping longer on Black Friday. We may see major retailers announcing that they are going to release “Snapdeals” at different intervals throughout the day, with consumers only able to redeem the deals if they are in-store, and can redeem the code within the allotted time frame.
Of course at this point, my view is purely hypothetical. But this may turn into something soon, and as a retailer, it may be a good idea to embrace the movement.
Karmaloop.com is an example of a retailer already taking advantage of the Snapchat’s deals hook, just not for Black Friday. As can be seen in their marketing piece, they state “Don’t sleep, you never know what we’re gonna drop next…”. This statement alone shows the potential Snapchat has to change the business world in a big way.
Tell me what you think? Can you see retailers using a service such as Snapchat to hook their customers even more? Or do you think this is a fad that will pass with time?
Thanks for reading.