In-Depth SWOT Analysis For Snapchat
Snapchat is a social media app that allows users to share photos and messages that disappear after a short period of time. It also includes features such as “Stories,” which are 24-hour collections of chronological content, and “Discover,” which allows brands to share ad-supported short-form content.
Snapchat was developed by Snap Inc., and was originally created by Evan Spiegel, Bobby Murphy, and Reggie Brown while they were students at Stanford University. It has a strong focus on mobile use and interactive features such as stickers and augmented reality objects.
As of July 2021, Snapchat had 293 million daily active users and an average of four billion Snaps were sent each day. It is popular among younger generations, but has faced privacy concerns for parents of younger users.
Snapchats popularity has grown significantly since its launch, with users sending 2 billion videos per day by May 2015 and hitting 10 billion daily video views by 2016. The company was renamed Snap Inc. in September 2016 when it introduced its first hardware product, Spectacles, which are smart glasses with a built-in camera.
Snapchat has faced controversy with some updates, including a redesign in November 2017 that was met with criticism from users.
SWOT Analysis For Snapchat
Strengths For Snapchat
1. A Strong, Loyal User Base
Snapchat has a strong loyal user base of more than 100 million daily active users. It’s the largest social media platform for teens, with an average age of 13 years old.
Snapchat also has the youngest audience of any social media platform—and it’s not even close: Instagram and Twitter have much older audiences (25–34).
In addition to its young demographic, Snapchat is also popular because it can be used as an all-in-one communication tool: you can send text messages or make video calls through the app; you can create private or public Stories that disappear after 24 hours; you can add filters that change your appearance temporarily; etcetera et cetera ad infinitum…
2. A Vibrant, Engaged Community
- Snapchat is a community.
- Snapchat users are engaged and loyal.
- Snapchat users are passionate about their platform, using it in different ways to communicate with friends and family members.
- The platform has a strong following of young people who use the app as an outlet for creativity, sharing with communities around the world through Stories or Discover content (news stories).
3. Unique Snapchat Product Offerings
Snapchat is unique among social media platforms in that it offers users the ability to send messages and photos that are viewable for only 10 seconds.
This means that you can send a text message or photo of yourself to another person, who will then have access only for 10 seconds before the content disappears.
This feature allows Snapchat users to share their thoughts, feelings and stories with friends in an intimate way—without having them spread far and wide across other social media platforms like Twitter or Instagram.
4. Strong Intellectual Property Portfolio
A strong intellectual property portfolio can be a game-changer for any company. Snapchat is no exception to this rule, with its IP portfolio consisting of four patents and seven trademarks.
The company has also made strategic acquisitions in order to bolster its patent portfolio, notably buying Hyperlapse Inc., which was founded by former Instagram employees before being acquired by Snapchat for $100 million in 2016.
The strength of these assets means that it will be difficult for competitors such as Facebook or Google—which both offer similar products—to compete against them on their own turf without making any significant changes to their businesses (such as purchasing another social media platform).
In addition, many other companies would need licenses from Snapchat if they wanted access to its technology; this means that only large corporations could afford such licenses and those who already have access will likely continue using those services instead of switching over since there isn’t much incentive otherwise – especially considering how many platforms offer similar features!
5. Strategic Acquisitions Of Competitors
Snapchat has been very active in acquiring competitors. The most notable acquisitions were Bitstrips and Looksery, which Snapchat bought out in 2016 and 2016 respectively. They also acquired Vurb (a company known for creating 3D filters) in 2018.
Snapchat has also made some strategic acquisitions of companies with strong technical teams, user bases and unique properties to help them improve their product offerings.
For example: Snapchat acquired Storybox Studios in 2016; they launched Spectacles Camera glasses with an app that lets you take pictures while wearing them; they acquired Cute Pets Studio’s pet-themed stickers so users could add their own animal pictures or videos into their Stories; they acquired Lenses Studio later on which created lenses such as sunglasses lens or lipstick lens etc., allowing people to make fun effects on themselves using these lenses via selfie stick…
6. Unique Filters, Lenses And Geo-Filters.
Snapchat’s filter and lens system is unique, fun and easy to use. Lenses are designed to enhance your experience on the app, while geo-filters can be used to drive engagement or sales.
- Snapchat filters: The filters are simple yet effective at creating an emotional response in users by manipulating their faces into funny characters or animals. For example, the “lil monkey face” filter will give you a monkey’s face with exaggerated expressions like “happy” or “angry” depending on how long you hold down your finger on screen before releasing it again (this also allows for some pretty funny videos). Another popular filter is called “sparkle eyes 2k17” which gives users blue colored eyes surrounded by sparkles which makes them look like aliens (or angels). Some other popular lenses include hearts that have either happy faces inside them or sad ones inside them depending on where they’re placed within an image; rainbows over everything else in sight; stars everywhere around us all day long! You get the idea…
7. Snapchat Is Addictive.
Snapchat is addictive because it’s fun. It’s easy to use, fast and social.
Snapchat is addictive because it’s visual. You can easily communicate with friends & family by sending images that disappear after a few seconds or minutes depending on how long you want them to remain visible in your story feed (which is where all the snaps are archived).
This makes communicating more efficient than texting or calling someone who may not have an app installed on their phone yet!
Snapchat is addictive because it’s private: no one else sees what you post unless they specifically follow you (which most people don’t).
This means that if someone wants something from you but doesn’t want anyone else knowing about it then simply notifying them via Snapchat would suffice instead of having everyone else know what happened between two people who were talking privately at first place.”
8. Temporary Content.
Snapchat is a temporary content platform that allows users to share images and videos with each other. The content disappears after 24 hours, which means you have to be quick about getting your message out there before the next person can see it.
This is great for marketers who want to get their message out in front of potential customers but don’t want it lingering forever on social media sites like Facebook or Twitter.
Weaknesses For Snapchat:
1. Snapchat Is Cutting Off Reach To A Lot Of Potential Customers
Snapchat is losing users, advertisers and money. It has also lost its users to Instagram and Facebook Messenger.
Snapchat is turning into a liability for Facebook because it’s not making any money from the app anymore. The company will lose $1 billion in revenue by 2020 according to analysts at Bernstein Research who have been tracking this decline since early 2018.
They predict that if nothing changes (like introducing new features or services), then Snapchat could be worth as much as $2 billion by 2021—which would make it one of the most valuable tech startups in history!
2. Limited Audience Targeting
Snapchat is a closed network, which means that it does not have to worry about the number of users on its platform. This allows Snapchat to focus on what it does best: creating video content and building relationships with users.
However, this also means that Snapchat doesn’t have access to information about who is using its app and how they use it—the things that would allow them to improve their advertising strategy.
As such, Snapchat doesn’t have any way of targeting specific audiences based on demographics (age), interests (sports), behaviors (likes) or geolocation data like Facebook does via ad targeting options like location-based ads or interest-based ads such as “I’m feeling hungry.”
3. Filters Are Only Available To Advertisers
Filters are only available to advertisers. Regular users and non-advertisers may not see them.
In addition, Snapchat has a filter system that allows you to add stickers and other visual effects to your image before it’s sent out via the app.
The filters can be used by all users, but only some advertisers have access to these features; this means that if you want access yourself, you’ll need money or connections with an advertiser in order for those things (i.e., filters) not only exist but also actually work properly on your account(s).
4. Snapchat Has Some Serious Problems With Its Business.
Snapchat has some serious problems with its business. Here are some of the most important ones:
The app has lost some of its popularity and traffic, which makes it hard for Snapchat to attract advertisers.
It also costs money to use Snapchat every day, but if you don’t spend your time there as much as other people do (which is unlikely), then that might not be an issue for you.
People aren’t spending enough time on the app or being talked into doing so by their friends; this could indicate a lack of interest in the product itself or how well it’s marketed by advertisers who want their products seen by more than just those who use them regularly or at all!
5. Weaknesses Of Snapchat (Internal Strategic Factors)
Snapchat has a difficult user interface. The app is designed for teens and young adults, so it’s not easy for older audiences to use.
It also doesn’t offer much in terms of features or functionality beyond messaging, video sharing and photo filters that have been available since 2011.
Snapchat lacks a clear business model other than advertising-based revenue streams like sponsored geofilters that allow brands to pay Snapchat users to display their logos on their photos or videos.
This strategy can work well if you’re already popular with advertisers or want some extra income from your social media presence—but if you don’t fall into either category yet then there are other options out there that may be more suitable for getting started with content creation on the platform (and even make more money).
6. Limited Features
Snapchat is a social media platform that allows users to share pictures and videos with their friends. However, it has a limited number of features compared to other social media platforms.
For example, Snapchat doesn’t have an option for sharing news articles or videos like Facebook does; instead, you can only share photos and videos on your account.
Additionally, Snapchat doesn’t provide any means of organizing content into categories like Twitter does—you must manually select what type of photo or video you want to add as its caption (for instance: “Selfie,” “Video,” etc.).
Snapchat also lacks several other useful features found on other platforms such as Instagram Stories (which allow users to post short videos) or YouTube Live Creator where creators can stream live broadcasts from their phone’s camera instead of just recording them internally like YouTube does now—therefore making it harder for people who aren’t good at interacting directly with others online through text chat because they don’t know how much time will pass before someone responds back…
7. The Snapchat User Interface Is Difficult To Understand.
The Snapchat user interface is difficult to understand. It’s not intuitive and it takes a lot of time to learn how to use it.
The app is not easy to navigate, so users have a hard time finding friends on the platform and content that they want.
Advertising and marketing campaigns on the Snapchat platform are still new, akin to Facebook when it first launched.
Snapchat is still a relatively new platform, so it’s difficult to say if advertisers are willing or able to invest in the platform.
The fact that Snapchat has been around for only five years also makes it hard for advertisers to know what works best for them.
The company has had some success with its advertising model: from 2013-2016, users spent an average of 60 minutes per day on their app—more than half of all time spent by users on social media platforms!
But despite this positive trend and high engagement rates, Snapchat seems determined not only to monetize itself but also find ways of maintaining user engagement as well.
8. Competitors Such As Instagram And Facebook Messenger Have Similar Features And Could Threaten Snapchat’s Business.
Snapchat isn’t the only social media platform with a similar feature set. Instagram and Facebook Messenger both offer video calling and messaging, but they don’t have an ecosystem of apps like Snapchat does.
With so many competing products available on mobile devices, Snapchat’s user base may not be as loyal as it was in its early days when only 5% of teens used Facebook or Twitter before switching over to Snapchat at some point during their teenage years.
Opportunities for Snapchat
1. High Potential For Growth And Expansion:
Snapchat has a high potential for growth and expansion. The company has a large user base, especially in the United States where it is the most popular social media platform among young people aged 18-24.
Snapchat also attracts users from other countries such as Europe, Asia, and Africa with its colorful filters that allow users to create their own content on the app.
Snapchat has been able to achieve this growth due to its unique features such as Stories which allows users share images or videos without having them disappear after 24 hours (this feature was introduced in 2013).
Additionally, there are apps like Instagram Stories which allows users who follow each other’s accounts via Facebook connect feature access those same posts when they appear again after 24 hours since first posting them onto their personal timeline – similar functionality exists within Snapchat itself but only within friends’ feeds rather than public ones like those seen elsewhere online today.”
2. Highly Profitable Acquisition For Other Companies:
The acquisition of Snapchat would be highly profitable for Snap Inc., the parent company of Snapchat. Many other companies are interested in buying this popular social media app.
Facebook has been reported as a possible buyer, as well as Google and Apple, who both own popular apps like Instagram and WhatsApp respectively.
3. Potential New Revenue Generation Sources Through Ads:
The third opportunity is through advertising revenue. Snapchat is a good platform for advertisers, as it has 100 million daily active users and they are likely to increase in the coming years.
This means that there will be more opportunities for advertisers to reach out to their target audience on this app.
Snapchat has already started offering sponsored lenses, which brands and businesses can use. They also have an ad format called Snap Ads (also known as Promoted Lenses), which allow users to watch videos about certain products or services within their feed without clicking any links or buttons required by advertisers.
These ads allow brands to promote themselves through engagement with consumers who are using Snapchat regularly; moreover, they can also get valuable insights about their target audience’s preferences and interests via analytics tools provided by Snapchat itself
4. Good Business Opportunities Outside The App As Well:
Snapchat is a social media platform with a lot of potential. It has a large user base, especially in the younger demographic. The app has been growing rapidly over the last few years and it is expected to continue doing so into the future.
Snapchat is also an excellent acquisition target for other companies as it can be monetized through advertising or paid subscriptions like Instagram or Facebook’s Instagram Stories feature (which requires users to pay for access).
This makes Snapchat one of the most lucrative apps on mobile devices today because there are so many potential users who want their content seen by others but don’t have time or money available right now!
5. Easy To Capture Younger Demographic Through Mobile Advertising Campaigns:
Snapchat is a great platform for marketers to reach the younger demographic. In fact, Snapchat has been increasing its user base significantly since it was founded in 2011.
As the app attracts more users, it becomes easier and cheaper for companies to make money through advertising campaigns.
With this in mind, Snapchat can be a great way for marketers to reach out to millennials who may not be interested in traditional forms of media like magazines or newspapers anymore because they prefer social media platforms over TV shows or movies instead of reading books or watching films (which are also expensive).
Threats For Snapchat
Snapchat is a popular social media platform that has gained popularity over the years. It is a mobile app that lets users send photos and videos to each other.
Snapchat is one of the most popular apps in the world and has become an integral part of our lives because it allows us to share content with friends, family members or even strangers who we meet on vacation or at work. However, there are some downsides associated with using Snapchat:
- Privacy concerns – If you have not taken steps before sharing information with others using this service then there is always a risk involved when your private pictures get leaked online without your consent. This can happen if someone happens upon them by accident while browsing through someone else’s phone; this may lead them getting access to certain files such as pictures taken during important occasions like weddings etc., which could also cause embarrassment for both parties involved!
2. Security Issues
Snapchat has been targeted by hackers and spammers in the past. In March 2016, users were forced to reset their passwords after cybercriminals accessed their accounts using weak passwords, which they then used to send spam text messages.
The company responded by implementing two-factor authentication (2FA) for all users who had not yet done so.
However, despite this implementation, there have been other security issues that have affected Snapchat negatively over time:
- Hacking – Spammers have managed to infiltrate various aspects of the app including its internal system as well as third party apps that interact with it like WhatsApp or Facebook Messenger
- Malware – Malicious software could be installed onto your phone when you install an infected app from a third party source
3. Restricted Access To Available Features
Snapchat’s app is not open to third-party apps. This means that you cannot install any other app on your device and use it for Snapchat. If you want to access Snapchat, then only the official app will do the job for now.
Also, suppose you want to get more from your account. In that case, it is mandatory that you should have a smartphone running Android OS or iOS operating system in order to use the service properly as there are no other options available for this purpose like Windows Phone 8/10 or Blackberry 10 OS devices which can also be used but not with full functionality as they don’t support any other platform’s features except their own devices themselves (iPhones).
4. Copying Features
Snapchat is a great app and has a lot of potential. However, there are many apps that are similar to Snapchat.
These apps are not as well known as Snapchat and they don’t have the same features as Snapchat, but they can still be used in your marketing strategy.
Snapchat needs to be aware of these apps and their features so that they can stay ahead of their competition in the mobile market place
5. Usage Of Fake Accounts
The usage of fake accounts has been an issue for Snapchat. The problem is that these fake accounts are used to increase the number of views on a particular story or post, and competitors can also use them to spy on their competition.
Fake accounts can be spread through malware, which would allow hackers to steal all your personal information including names, phone numbers and addresses.
They can also spread false information about celebrities such as Kim Kardashian West who posted pictures of herself without wearing any clothes in order for people to send her money via PayPal credit cards (which she later denied sending).