February 6, 2018
You can now customise your Bitmoji in over a hundred different ways. Snapchat say they have responded to user requests and welcome even more feedback. Amongst changes to the overall design of the App, Snap has also discreetly introduced a way to mute notifications with a new “Do not disturb” feature. This is to help individual users use their time more effectively as mobile devices become a core part of our lives. Facebook have been working on this from last year and Mark announced that users will now see less viral content to ensure reduced time is spent on Facebook. This movement was actually launched by Time Well Spent, an organisation who raises awareness on how commercial interests outweigh the regard for the quality of life for individuals and society.
With the attempt to make the community feel safer and more relatable, we look forward to seeing just how they plan on turning these changes into revenue streams and collaborate with big brands.
A new In-App store was released to sell its own merchandise. How will selling sweatshirts and hot dog plushies help them make significant revenue? This Snap store can be found in the ‘Discover’ section of the App and for now, the app only focuses on their own branded consumer goods. We believe Snap is testing the waters and asking themselves: do people want to buy products directly from the Snapchat App? Only then, once they can differentiate between what works and what doesn’t can they release this globally to brands, with the hope to make a comeback in the industry.
Later today, Snapchat will be releasing their fourth quarter and full year 2017 results. Having lost a mind boggling $433 million in the last quarter, the only way forward is new monetisation propositions to be able to compete with the likes of Facebook, who recently launched Carousel ads on Instagram Stories.