SWOT Analysis for Snapchat

SWOT analysis for SnapchatSurely everyone has heard about Snapchat by now. It is the extremely popular and successful mobile application that has become hugely popular in such a very short space of time, especially with young teens. Snapchat continues to show signs of growth in Europe and the US, with innovation at the heart of its activity.

What is Snapchat?

  • Snapchat is a mobile application that allows users to share their photos, videos, text, and drawings with friends. The app is free to download and is it free to send messages whilst using it. It has become hugely popular in a very short space of time.

SWOT analysis for Snapchat

Below is a free and comprehensive SWOT analysis for Snapchat, which details the current strengths, weaknesses, opportunities and threats that the business currently faces.

Strengths:

  • Unique software – the offering from Snapchat is a very unique approach to messaging and mobile communications. The application allows the business to differentiate itself from the ever-growing social media sphere.
  • Privacy – Snapchat uses functionality that deletes content upon sending. This messaging tool allows for a more private, and less risky long-term, approach to interacting with others through social media. This is very different to platforms such as Facebook and Twitter where messages are stored and available to read until manually deleted.
  • Mobile – The simplistic mobile-ready design gives the application an easy-to-use and sleek interface that surpasses many of its competitors.
  • Stories – Snapchat has embraced the growing trend of storytelling through social media and successfully left a mark on just about every major event by creating the story feature. Snapchats have been taken and shared all around the world at some of the most iconic and popular events.

Weaknesses:

  • Controversy – There have been many controversies that have surround Snapchat is the last year or two. One specific topic that has been negatively publicized is its ability to enable things like sexting, offensive or lurid comments, or abuse of others without any evidence available for further investigation.
  • Customer Frustration – Snapchat’s inability to retain messages and content can be a frustrating side effect as much as a useful feature. Customers cannot access historic data with pictures only live for a 24-hour period. Other social media sites such as Facebook and Twitter, allow the user to post a picture and then revisit the photo a later day.
  • Monetization – Snapchat still needs to implement plans around monetizing the application. It has ever-growing hordes of followers but is yet to generate any significant revenue through sales.
  • Historic Data – Snapchat is not permanent. Pictures are only up for a 24 hour period. Other social media sites allow the user to post a picture and re-visit the photo at a later time.

Opportunities:

  • Expansion – Snapchat’s growth has continued to boom, especially among teenagers, allowing for the courting of advertisers looking to attract these consumers with vast disposable income. More and more businesses are turning to influential users of Snapchat to reach the masses with their products and services.
  • Functionality – Snapchat continue to make their mark as a leading innovator in social media and maintain regular updates and features. They have recently added the new lens feature to their application enabling users to cover their faces with whacky interactive themes and images. Additional features continue to offer uniqueness for teens and helps to keep users engaged, preventing them from moving to alternatives like Facebook or Instagram.
  • Dominance – Snapchat has the opportunity to establish itself as the top social media channel in the coming years. The target audience for Snapchat ranges anywhere from early teens to adults with just about every single age group using the application to engage with friends and family. Innovation will be key to their quest for dominance.

Threats:

  • Negative PR – Both negative press coverage and public opinion, especially influenced by cyber bullying and sexual abuse, could easily mark Snapchat as a strong medium or enabler for such issues. These may have legal implications further down the line.
  • Legal – Snapchat has been the subject of many negative news stories in the past year and the legal ramifications of the application are yet to be brought to light. The business may have avoided major liability issues for now, but they continue to lurk and pose an uncertain threat.
  • Innovation – Snapchat is competing well in a fierce and saturated market. The company continues to demonstrate innovation in the functionality of its software. There is limitless potential and as long as they continue to innovate and lead then their growth will continue.

Who uses Snapchat?

  • Everyone uses Snapchat. But it is directed toward teens and adults. Snapchat is mostly a hit among teenagers, according to several research firms, though it is catching on and embracing new demographics every day. Viners (personalities who use the Vine app), for instance, are known to use Snapchat’s story feature as an alternative means of communicating with fans.

How many Snapchat users are there?

  • There are 100 million daily active users of Snapchat

How many photos are shared on Snapchat every second?

  • There are 9,000 photos shared on Snapchat per second

What percentage of selfies are taken through Snapchat?

  • On average, 5% of all social media selfies are shared through Snapchat

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