Why people love Snapchat

Fact(s)

MAU – 70 million

Frequency - 400 million snaps a day

Gender – 70% female

Geographic – Mostly US

Revenue – $0

Business Model – None

Why'd it go Viral?I love the fact that mass-marketing influences downloads, purchases,

and buy-ins to a large extent.

1. Snap chat Dic* Picks – This was brilliant. Tweens everywhere – attracted by the mere premise of their friends sharing inappropriate images with one another. “If there’s an outlet to defy authority, kids will gravitate towards it.” I theorize, that Omegle and Chatroullete as well – had a similar underlying usage behaviour behind it.

2. Manic valuation – Not a lot of buzz was going around companies that were valued at that price point, and the buzz spread worldwide. Media outlets across the globe were sharing the news about the application that made no money and only targeted kids. Buzz translated into downloads.

Motivation for initial usage

1. Scarcity - The scarcity factor associated with the the short life-span of these snap images sparks a host of neural pathways in the brain.

You tend to value these images a lot more on Snapchat (10seconds) than Facebook (forever). These images are now as valuable as a gourmet meal, made more valuable by applying filters, tags, and cute n cudely doodles

Motivation for initial usage

2. Connectivity/Intimate Bonding - I get a glimpse into the lives of my friends in a more appealing format than text. An IMG with you playing with your kitty cat, is a better response to “What’s Up” than “Not Much”.

Of course, the rules of the game don’t change here. The more your friend offers to you in terms of entertainment, humour, excitement, beauty, etc. – the more you would reciprocate and the longer you spend time on social media apps.

Motivation for initial usage

3. Defying Social Norms - I can appreciate your activity for a longer duration of time than is socially permissible in a face-to-face interaction.

Our brains can process images within microseconds of seeing it, but the joy in taking your time to truly get a dopamine dump for 10 seconds is exciting enough for anyone to get addicted to

Motivation for initial usage

4. Interaction Design – Snapchat has some of the best interaction design elements involved in it. Swipe right to chat, slide to switch cameras, push down to refresh, and press-n-hold to view.

These elements have made it simpler to use the app v/s having buttons or complex menus to browse through. Its quick and its young.

What does all this mean for brands?

1. Sharing pictures of your stuff– Fans will inevitably be sharing images of a multitude of products, events, memories, and experiences.

2. Invite Snap Celebs – Get em to your new store opening, give em free tickets, free promos, you know the drill. These guys are the new broadcasters of 2014. You gotta tap em, when they’re young.

3. Youth – You’re gonna gettem young. You don’t want a Vice to take over the publishing game and dethrone incumbents by tapping the youth

4. Low Risk – If you fail, you fail. No expectations, no impact on KRA – you’re free to experiment around without too much of a disaster in your hands

Brands on Snapchat -• TacoBell• Love16Handles• karmaloop.com• Grubhub• Wetseal• Acura_Insider• Businessweek• SenatorRandPaul• Saints (New Orleans Saints)• Eagles (Philadelphia Eagles)• New York Jets• wetseal• wwe• grubhub (theyre awesome)

You did it!

You went through the entire presentation. No you didn’t. You skimmed. Trust me, you’re gonna wanna really read this presentation. Or not.

Go to fivemv.com for more insights on digital consumer psychology insights.

My next article is about "Anchoring and Influence". Here's a snippet -

"Simply put, anchoring is how people live their lives… Woaah! *We gotta bad ass over here*

Anchoring is all about comparing a certain prospect to another. The base-line product, base line sale, menu option, service, vacation, relationship, , etc. etc. etc. – we all live by comparing our current life system to potential options that we see.

Bar Rafaeli will never date you, cuz Leonardo DiCaprio is a thing. She’s gonna anchor her decisions based on who she’s with right now."

Complete article at - http://www.fivemv.com/anchoring-psychology/

D D D D D Drop the Base!