We have all heard of the story of David And Goliath but the following is more of a story of Goliath and Goliath. It is Facebook versus Snapchat in a battle of social networks trying to attract more eyeballs and revenues.
Most of us know of Facebook and the revolutionary way it has changed our personal lives as well as the history of the planet. However, then comes along little Snapchat with its cool features that attract millennials in particular to come and use its service. Now, this is not to say that they left Facebook, they didn’t. However, they were willing to check out the new kid on the block so to speak, and that new kid is Snapchat.
So, Snapchat is popular and it has a number of unique reasons why people like it. However, that is starting to change as Facebook moves in on the turf that Snapchat once monopolized all on their own according to Harvard Business Review.
Facebook has taken on the so-called “stories” feature that is so popular on Snapchat. They have basically made a copy of that feature and put it on Facebook. That is important because Facebook may be moving in on what Snapchat used to have all on its own. That could take away business from Snapchat and hand it right over to Facebook. This matters because those who use social media are not afraid to move from one platform to the next when it becomes easier for them to do so.
Given all of this, some wonder if Snapchat can survive now that Facebook has stepped in and taken on some of their best features. For their part, Snapchat says that they will be just fine. The CEO has said that “just because Yahoo has a search bar does not mean that it is Google”. In other words, just because someone has copied their model does not mean that they are going to do it better than the original.