Not only has Snapchat’s stock taken some billion dollar hits recently (lookin’ at you Rihanna and Kylie), the multimedia messaging app has also lost popularity among its’ users due to the most recent software update which altered the layout and user-friendly appeal of the app.
It is no secret that social media has evolved into a powerful marketing tool over the years. It's also no secret that organic content no longer cuts it; if you want your content to be seen, you need to be putting money behind it. According to Statista, social media advertising budgets have doubled worldwide over the past 2 years—going from $16 billion in 2014 to $31 billion in 2016 and spending is only projected to increase. In the U.S. alone, social media spending is anticipated to surpass $17.34 billion in 2019.