Snapchat was the original messenger app to ultimately utilise smartphone cameras for messaging purposes. However, Snapchat is now facing the threat that all ‘Early Adopters’ face; fending off the pressure from competition. Their hard to retain Millennial audience is beginning to grow impatient with the app’s redesigned interface and are quickly switching over to Snap’s leading competitor, Instagram.
Unlike other Early Adopters such as Myspace, MSN Messenger and Skype, Snapchat have used an effective risk management strategy to retain their audience; relying on innovation to remain relevant. With the well-received introduction of ‘Snap Maps’, Public Stories, Bitmoji Integration and Money Transferring capabilities, Millennials stuck by their old friend as they were excited to see the latest innovations.