Snapchat has embarked on its road to redemption with a redesigned redesign — but new polling numbers show that the journey back to user faith will be a long one.
The polling company YouGov released a report about Snapchat on Friday showing that millennial consumer sentiment towards the brand is at an all-time low. YouGov’s Impression poll about Snapchat, which asks whether people have a positive or negative impression of a brand, dropped 73 percent from late January to early April. Snapchat reached a high score of 30, and dropped to 8 by April. Yikes!
For those keeping track, that’s when Snapchat’s maligned redesign kicked in.
People who self-identify as Snapchat users also reported lower satisfaction. With users aged 18-34, Snapchat reached a high satisfaction score of 27 in January. But after the redesign, it dipped to a measly 12 in April.
Snap Inc.’s stock has followed a similar trajectory. After promising Q4 results in 2017, Snap stock plummeted after its 2018 Q1 report revealed lower revenue and slower growth than analysts had anticipated. During its earnings call, Snap acknowledged that the big changes it made to the app in its February redesign were a major shake up, that contributed to backlash. But CEO Evan Spiegel has defended the redesign, and on the call, executives maintained that the redesign was ultimately the right direction for the business overall.
But apparently, that self-assurance didn’t entirely hold up. Late Thursday, Snapchat released the redesign of the redesign, which put friends’ stories back on the right panel of the app, and kept one-to-one snaps sequestered on the left, like users wanted.
Some Snapchat devotees seem satisfied. But will it be enough to reverse Snapchat’s reputation, and its financial viability? With Instagram’s continued domination of stories, and the brand’s Spectacles wasting away in a warehouse, only time will tell.