Snapchat is a relatively new mobile application where you could send videos to your friends that would last for a maximum of 10 seconds before they disappear forever. Since its launch in September 2011, it has grown from a relatively unknown product run by a few Stanford undergraduates to a company now potentially worth $4 billion.

One of the main reason for Snapchat’s fast growth is it’s unique value proposition, allowing users to share videos in a fun and easy fashion. Likewise, it has a first mover advantage, being one of the first apps that allows users to share videos in such a fashion that sets it apart from other major social media sites such as Tumblr, Facebook and Instagram. However, the behavior of Snapchat’s key customers, teenagers, pose a major threat to its growth. According to a recent study from Pew Research Center’s Internet and American Life Project , teenagers are very fickle to side with the company. One of the key examples to illustrate this is the demise of Mypsace, where in 2006 85% of teenagers have a myspace account, by 2013 only 7% have maintained one. In order to maintain their current customer base, Snapchat needs to keep up to date with the latest consumer trends and advertise their brand not only on Social Media Sites such as Facebook and Twitter but possibly through setting up competitions for current and potential customers on its website such as “Best Snap of the Month” where the winning customer would be rewarded with a prize.

Works Cited