The Problem Overview
Snapchat recently announced that they will be selling sponsored branded lenses to companies for a fee of up to 750,000. The two questions that arise from this deal is which companies are Snapchat going to chose to feature on their sponsored lenses? And the second question is will companies pay for this one-day feature in which Snapchat will create a lens for the specific company? Right now Snapchat’s revenue stream is coming from Advertising and a part of the phone application called Snap Cash.
Company Strengths
Snapchat has an extremely large and diverse user base, which focuses on Millennials. This is a huge strength in the company because they have direct access to the most technology friendly generation. Being that …show more content…
Snapchat’s association with this deterred many users from using its application from its creation until today. Another weakness is Snapchat’s focus on Millennials. Snapchat does not appeal to those who are not a part of the Millennial generation because of its constant changes and fast-paced nature. Another weakness of Snapchat is its weak revenue streams, both Snap Cash and Advertising. Snap Cash was not as successful as Snapchat hoped. Snapchat also recently introduced ads on its Discover section and its still too early to tell the ramifications of …show more content…
Snapchat works with various online publications and print publications for their discovery section. They should work with companies that embody the millennial generation. Fashion companies like Forever 21, H&M and Zara could be companies that would make sense for them to partner with. They can also partner with celebrities for special celebrity sponsored lenses. These lenses can come from a company paying for a lens and then using a celebrity within the lens. They could also pay have a celebrity feature a lens, which can only be accessed to Snapchat users, which is both good for a celebrity and good for Snapchat while still keeping in touch with their millennial user base. Companies would be willing to pay for this because the millennial generation is the future of technology. It Is also an extremely easy way to reach the millennial generation as a whole. This will also increase their revenue because they will have more interactions with companies and companies are going to be paying them more frequently than they were before, simply because Snapchat has less paid advertising
Snapchat recently announced that they will be selling sponsored branded lenses to companies for a fee of up to 750,000. The two questions that arise from this deal is which companies are Snapchat going to chose to feature on their sponsored lenses? And the second question is will companies pay for this one-day feature in which Snapchat will create a lens for the specific company? Right now Snapchat’s revenue stream is coming from Advertising and a part of the phone application called Snap Cash.
Company Strengths
Snapchat has an extremely large and diverse user base, which focuses on Millennials. This is a huge strength in the company because they have direct access to the most technology friendly generation. Being that …show more content…
Snapchat’s association with this deterred many users from using its application from its creation until today. Another weakness is Snapchat’s focus on Millennials. Snapchat does not appeal to those who are not a part of the Millennial generation because of its constant changes and fast-paced nature. Another weakness of Snapchat is its weak revenue streams, both Snap Cash and Advertising. Snap Cash was not as successful as Snapchat hoped. Snapchat also recently introduced ads on its Discover section and its still too early to tell the ramifications of …show more content…
Snapchat works with various online publications and print publications for their discovery section. They should work with companies that embody the millennial generation. Fashion companies like Forever 21, H&M and Zara could be companies that would make sense for them to partner with. They can also partner with celebrities for special celebrity sponsored lenses. These lenses can come from a company paying for a lens and then using a celebrity within the lens. They could also pay have a celebrity feature a lens, which can only be accessed to Snapchat users, which is both good for a celebrity and good for Snapchat while still keeping in touch with their millennial user base. Companies would be willing to pay for this because the millennial generation is the future of technology. It Is also an extremely easy way to reach the millennial generation as a whole. This will also increase their revenue because they will have more interactions with companies and companies are going to be paying them more frequently than they were before, simply because Snapchat has less paid advertising