In Snap things are not going too well. Only a few months ago the company led by Evan Spiegel collapsed in the stock market after reporting disappointing quarterly results. A few days ago, we saw how the daily users of Instagram and WhatsApp almost doubled those of Snapchat. With an eye on 2018, it’s time to reinvent yourself.
In the conference call of the results of the third quarter , the CEO of the company was honest about their relationship so far with users that bring true value to Snapchat.
While we have made significant progress in our work to empower the creation of user-generated content from friends and publishers’ premium content, historically we have neglected the creator community that creates and distributes public stories to the broader audience of Snapchat.
Snapchat wants creators to build a business with their creativity
It is for this reason that during the next year the platform wants to generate more distribution and monetization options . It will be, according to Spiegel, “an effort to empower our creative community so that it expresses itself before a wider audience and builds a business with its creativity”. A model that until now had worked very well for YouTube.
The development of this ecosystem will allow artists to move more easily from communication with their friends to the creation of Stories for a wider audience, its monetization and the potential use of our professional tools to create premium content.
Also, Snapchat redesign in sight
“One thing we’ve heard over the years is that Snapchat is hard to understand or difficult to use,” said Snap’s CEO, “and our team has been working to respond to these comments.” Or what is the same: Snapchat will change to become more understandable . In fact, they are already working on the redesign, although they see possible annoyance from the users.
There is a high probability that the redesign of our application interrupts our business in the short term. And we still do not know how the behavior of our community will change when they start using our updated application.
However, Spiegel corroborates, they are willing to take that risk because of the substantial long-term benefits that may derive from the decision. With the distance between Snapchat and the duo formed by Instagram Stories and WhatsApp Status growing month by month, it has taken the time to take the initiative and act.
Time will tell if the decisions made have helped to improve their attractiveness, increase their growth and shorten distances with their competitors.