If you've previously thought Snapchat to be a social network used only by teens, it's time to change that mindset.

As of June, Snapchat has about 150 million daily active users, according to Bloomberg Technology. To put that in perspective, Twitter has fewer than 140 million users logging in daily.

Five years after its founding, Snapchat's ever-growing audience is beginning to diversify. 38 percent of U.S. smartphone owners aged 25 to 34 are on Snapchat, a 33 percent increase from 2013. Even more shocking, 14 percent of those 35 or older have also joined Snapchat. Three years ago, a mere 2 percent of those 35-plus were on Snapchat, according to a recent comScore report.

Because of Snapchat's shift in demographics and impressive amount of daily active users, it's time your brand joined Snapchat. Plus, Snapchat just announced a major, new feature that will make it easier for your brand to participate.

Read on to learn all the must-known information about marketing your company on Snapchat.

What exactly is Snapchat?

With Snapchat, users send photos and videos to select friends. With each snap, you decide who will see it.

Once your snap is opened, it can be viewed for up to 10 seconds. Then, poof! It disappears. You can also create stories, which are compilations of snaps that can be seen for up to 24 hours.

Historically, Snapchat's content is the complete opposite of Instagram's edited, curated feed. The images and videos shared are sporadic, spontaneous and raw. That's one of the reasons for the app's widespread popularity. Users see Snapchat as a breath of fresh air.

Since Snapchat's content disappears after it's been seen, it won't live forever online. As a result, the content is candid, telling and comical.

How does Snapchat fit into your marketing plan?

You cannot just repurpose other marketing materials and share them on Snapchat. The content needs to be platform-specific since it functions so differently from other social networks.

If you have the resources, include Snapchat in your marketing plan if your demographic is 35 or under. If your target audience is between 18-24 or 24-34, invest time in Snapchat even if your resources are limited.

These types of content generally perform well for brands on Snapchat:

  • Behind-the-scenes look at events
  • Unscripted product descriptions and tutorials
  • Sneak peeks of new products
  • Community-engaged contests (doodling, selfies or videos) in exchange for a promo code or freebie
  • Highlights of your employees and company culture

How do you set up a Snapchat account?

  • Download the app. It's on both iOS and Android.
  • Create an account, thoughtfully. Enter your email, set the password and meditate on what your username should be. Once you set your username, it cannot be changed.
  • Set your profile picture. Generally, putting your logo or brand colors on the Snapchat ghost will be perfect. Search other brands, such as Huffington Post or Warby Parker, for inspiration.
  • Set your privacy settings to public. You want to get found.
  • Start snapping!