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Young couple doing selfie on a sunny day in the center of Ljubljana.
It was a mixed bag for Snap's (NYSE: SNAP) quarterly report. On the positive side, revenue up by 43% to $ 297.70 million. Keep in mind that the Street was looking for $ 283 million.
But unfortunately, there was a big-time problem: this was the second consecutive quarter of declines in the user base. The drop was about 2 million to 186 million.
When it comes to social media platforms, the user count is key. And given the deceleration, it should be no surprise that Snap stock has been under intense pressure. Since February, the price has gone from $ 20 to $ 7 (the shares are about 9% in after-hours trading).
So what now? What can Snap do to get things back on track?
Well, I got to know some experts in the tech industry – and here's what they had to say:
Taleeb Noormohamed, President and COO of Casaza:
"First, see if the television strategy starts to work. The key is to partner with happy developers to see if there is a better way to monetize the users they have. People are spending time watching video on IG, etc. – but given the nature of the experience on Snap, there could be a real opportunity there. Next, Snap really needs to hone on what the value proposition actually is. People use their Snapchat and Snapchat as a backdrop. Is that the proposal? Speigel has spoken about Snap a camera company – but that can not be enough. If use numbers are down then the question is really going to be a reality.
"Snap should also figure out the partnerships that allow it to be achieved by competitors beyond what they've done with Amazon. This is the strategy that acknowledges that market growth is not in the cards and allows you to find a way to help you.
"Finally, and this is the hail Mary – to chase down to a Chinese partner that 's making a major entry into the US while taking the technology to Asia.
Danielle Levitas, SVP of Research, Content, and Communications at App Annie:
"Broaden global commitment. Snapchat needs to sharpen focus on building its user base and engaging users – young and In parallel, Snap needs to continue to build engagement with teens through its innovative capabilities and capabilities to take advantage of the GenZ audience in the US. adulthood.
"There should also be a focus on digital advertising. With the new hire of Jeremi Gorman from Amazon to lead Global Sales Ad, Snapchat has an opportunity to refine its advertising strategy and double-down its focus on advertising sales. While there is intense competition from social media rivals like Facebook and Google in digital advertising, this will be a critical piece in Snapchat's comeback – and advertisers want alternative platforms, especially those that have exceptional reach into GenZ.
"Snap needs to be more focused on creating engaging video content. Earlier this month Snap, introduces 12 original shows to boost the platform's appeal among younger audiences who spend less time watching TV. Snapchat should continue to focus on curated mobile video content to increase users
Gil Sommer, Head of Product at Connatix:
"Snapchat's problem is happy. And by this, I mean quantity. Originally, Snap and Instagram deployed two different business strategies – Snap focused on DM (direct messaging) content and publishers, but now they are in a place where they have less content overall. Instagram is adding more and more accessible content creation and editing tools for your audience. This has made it easier for them to tap into their audience base – whether it be influencers, brands or publishers – to create content at scale. At this point, Instagram has won the race. In order to get the best out of the game, they would need to completely go back to their core model. What made them really popular in the beginning of their lives? If they do not address this, they will become niche and eventually irrelevant. "
Want more entrepreneurial advice? You can follow me at @ttaulli.
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Young couple doing selfie on a sunny day in the center of Ljubljana.
It was a mixed bag for Snap's (NYSE: SNAP) quarterly report. On the positive side, revenue up by 43% to $ 297.70 million. Keep in mind that the Street was looking for $ 283 million.
But unfortunately, there was a big-time problem: this was the second consecutive quarter of declines in the user base. The drop was about 2 million to 186 million.
When it comes to social media platforms, the user count is key. And given the deceleration, it should be no surprise that Snap stock has been under intense pressure. Since February, the price has gone from $ 20 to $ 7 (the shares are about 9% in after-hours trading).
So what now? What can Snap do to get things back on track?
Well, I got to know some experts in the tech industry – and here's what they had to say:
Taleeb Noormohamed, President and COO of Casaza:
"First, see if the television strategy starts to work. The key is to partner with happy developers to see if there is a better way to monetize the users they have. People are spending time watching video on IG, etc. – but given the nature of the experience on Snap, there could be a real opportunity there. Next, Snap really needs to hone on what the value proposition actually is. People use their Snapchat and Snapchat as a backdrop. Is that the proposal? Speigel has spoken about Snap a camera company – but that can not be enough. If use numbers are down then the question is really going to be a reality.
"Snap should also figure out the partnerships that allow it to be achieved by competitors beyond what they've done with Amazon. This is the strategy that acknowledges that market growth is not in the cards and allows you to find a way to help you.
"Finally, and this is the hail Mary – to chase down to a Chinese partner that 's making a major entry into the US while taking the technology to Asia.
Danielle Levitas, SVP of Research, Content, and Communications at App Annie:
"Broaden global commitment. Snapchat needs to sharpen focus on building its user base and engaging users – young and In parallel, Snap needs to continue to build engagement with teens through its innovative capabilities and capabilities to take advantage of the GenZ audience in the US. adulthood.
"There should also be a focus on digital advertising. With the new hire of Jeremi Gorman from Amazon to lead Global Sales Ad, Snapchat has an opportunity to refine its advertising strategy and double-down its focus on advertising sales. While there is intense competition from social media rivals like Facebook and Google in digital advertising, this will be a critical piece in Snapchat's comeback – and advertisers want alternative platforms, especially those that have exceptional reach into GenZ.
"Snap needs to be more focused on creating engaging video content. Earlier this month Snap, introduces 12 original shows to boost the platform's appeal among younger audiences who spend less time watching TV. Snapchat should continue to focus on curated mobile video content to increase users
Gil Sommer, Head of Product at Connatix:
"Snapchat's problem is happy. And by this, I mean quantity. Originally, Snap and Instagram deployed two different business strategies – Snap focused on DM (direct messaging) content and publishers, but now they are in a place where they have less content overall. Instagram is adding more and more accessible content creation and editing tools for your audience. This has made it easier for them to tap into their audience base – whether it be influencers, brands or publishers – to create content at scale. At this point, Instagram has won the race. In order to get the best out of the game, they would need to completely go back to their core model. What made them really popular in the beginning of their lives? If they do not address this, they will become niche and eventually irrelevant. "
Want more entrepreneurial advice? You can follow me at @ttaulli.
