Snap Inc had a difficult time attracting advertisers in 2017 as the company’s financials show. The company has been working hard since then to turn things around by boosting ad access as well as options of formats and better measurement tools.
Now, data from Statista highlights that overall advertisers and brands were just slightly more interested in placing their ads on Snapchat in Q1 2018 compared to the time before the company went public.
Instead, marketers are more interested in working with other social media platforms including Facebook, Instagram, and YouTube.
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Snap has been facing a row of user criticism since it decided to redesign its app. The overhaul has left users confused and marketers perplexed, leading to overall slower user growth.
It’s unclear if the company’s efforts in ad development and ad tech can help attract advertisers if the users aren’t there in the first place.
Interestingly, interest in placing ads with Twitter and Pinterest also dropped between quarters.