Instagram Stories is slowly becoming the de facto platform for visual brand content after Facebook revealed on Monday that it has now surpassed a milestone 200 million daily active users, which puts it way ahead of long-standing rival Snapchat.
Stories only launched on Instagram last summer, but the ephemeral video- and photo-sharing hub has quickly become a huge hit with social users across the globe. It recently launched full-screen ads to allow marketers to better monetise engaging content published on the platform.
Hot on the heels of that rollout, Snapchat unveiled a new product late last week that it hopes will counter its rival’s popularity somewhat. The feature, called “Snap to Store,” will allow advertisers to see whether the content that they use on Snapchat actually drives users to visit physical stores as well as provide a whole host of those online-to-offline conversion metrics via an intuitive dashboard.
A study commissioned by the multimedia mobile app giant and conducted by Greenberg Strategy shows that 80 per cent of users snap in restaurants and 66 per cent snap in retail stores, so Snapchat is hoping that the new feature will entice brands that want to make brick-and-mortar experiences relevant again.
“Store lift and foot traffic are some of the top KPIs that brands look for when measuring the success of a mobile platform,” Retale EVP Nels Stromborg said. “They are right to demand media visibility and accountability, which Snapchat has been slow to deliver on in the past.”
Following the launch of “Snap to Store,” several industry experts have had their say on whether it will play a major role in building on Snapchat’s current user base of 161 million and slowing down Instagram’s momentum. Hill Holliday CDO Mike Proulx said that the new offering would fill a “big gap in its analytics” but may not move the needle in terms of attracting users and repeat advertisers at scale.
Meanwhile, The Community’s Digital Strategy and Media Senior Director, Andy Amendola, said that “Snap to Store” is a “great feature,” but Snapchat needs to focus on innovation, as Instagram is currently “beating them at their own game.” It appears that Stories will continue to have the edge for brands and marketers for the foreseeable future.