Snapchat has recently launched a new line of wearble technology in the form of sunglasses, dubbed as “spectacles,” by the popular photo sharing app. This new product has the ability to be a great new transient advantage for the company moving forward.
In the article “Snapchat Moves In Where Google Glass Gave Up,” the author speculates that this new product will be a growing success for the long-time software company. In more detail, it describes how historically, companies who have marketed their products to younger generations tend to be more successful. Snapchat is doing this by creating trendy, reflective sunglasses that work together with their already popular social media app, allowing its users to capture short, 10 second videos which they can share with their friends.
(Source: Engadget)
Google has already created a similar product, known as Google Glass, back in 2014, which did not generate nearly as much excitement from consumers as the internet software company had expected. Part of this may have been because the company lacked a mainstream marketing campaign that could appeal to consumers. Having spent presumably hundreds of millions of dollars developing Glass, Google should have spent at the very least $10 million explaining it. In addition to that, Google Glass was selling for up to $1,500, which was in no way affordable for something that had the same features as a smartphone.
In contrast, Snapchat is selling its “specs” for up to $130, which allows it to expand its target market to people of all incomes. Tying this together with the trendy look of the glasses, and its ability to work with the already popular app, I am convinced that this new product will be a growing success once it launches into retail markets.
This new product line is important for Snapchat if it would like to maintain its already competitive advantage well into the future. Companies have come and gone over time as a result of newer, cooler innovations. By re-inventing itself, Snapchat is adding value to its stakeholders in the already competitive market.
My advice for Snapchat is to learn from Google’s failures and to implement an effective marketing campaign for their new product line; rather than solely relying on the product’s ability to sell itself. This can easily be accomplished by taking advantage of their app by sending out an ad campaign to its users. Whichever course of action the company takes, it is key that they market this product, as to show value to its customers.
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Works Cited:
Yu, Howard. “Snapchat Moves In Where Google Glass Gave Up.” Forbes. Forbes, Inc, 1 Oct. 2016. Web. 2 Oct. 2016. <http://www.forbes.com/sites/lizryan/2016/10/01/ten-things-you-shouldnt-have-to-do-to-get-hired/#7a053fb0150c>.
Reynolds, Siimon. “Why Google Glass Failed: A Marketing Lesson.” Forbes. Forbes, Inc, 5 Feb. 2015. Web. 2 Oct. 2016. <http://www.forbes.com/sites/siimonreynolds/2015/02/05/why-google-glass-failed/2/#1f47292d6d8c>.
Moon, Mariella. “Snapchat to Release $130 Camera-equipped Spectacles This Fall.” Engadget. AOL Inc., 23 Sept. 2016. Web. 02 Oct. 2016. <https://www.engadget.com/2016/09/23/snapchat-spectacles/>.