Following a controversial redesign and less than stellar results during its first year as a public company, the mood at Snap’s headquarter has turned a lot darker since the company’s celebrated IPO in March 2017. Aside from Snapchat’s lackluster user growth and Facebook’s seemingly successful strategy of copying anything that Snapchat does
well, there’s growing concern about the platform’s appeal to marketers (and hence its monetization prospects).
According to a recent report by the Social Media Examiner
, just 8 percent of marketers used Snapchat
in the first quarter of 2018, which is worlds apart from Facebook’s 94 percent adoption rate and far behind the 66 percent of marketers that are active on Instagram
. Making things worse, 72 percent of the respondents have no plans of using Snapchat in the next 12 months, indicating that marketers do not consider it relevant enough to give it a try.