Snap Inc., the parent company for Snapchat, experienced changes during the last few months of 2016. Industry leaders weighed in on what this upcoming year has in store for Snap Inc. and Snapchat. Social Media Week recently asked 20 marketing experts about the future for Snapchat. In the past year, Snap Inc. repositioned itself from a social media company to a camera company. Snapchat debuted their new camera product, Spectacles, and created buzz and demand by releasing a small supply in select locations.
Snap Inc. did have some bumps in the road with allegations that the growth figures they reported were not completely accurate. Now that Snap Inc. has announced the International Headquarters move to London, 2017 can spark a lot of questions and predictions. Weighing in on the future of Snapchat was Collective Bias SVP of Product, Ali Mirian:
“There will be an inevitable converging to the mean. Just like Instagram launched a Snapchat-like Stories experience, Snapchat must compete for airspace as a media company in order to attract advertisers. Users came for the ephemeral snaps, but they’ll stay for the ecosystem of high quality curated content. Snapchat will look and feel more like a media property, just as other social platforms have positioned themselves.”
Other marketing experts commented about the power that this media company has and how its influence will adapt consumers’ shopping behavior. Check out the rest of the article on Social Media Week.