Although caught in the social media stock downdraft, Snapchat is the anti, and antidote to, Facebook.
Snap’s business plan for Snapchat was never to monetize user-generated content as its prime profit proposition. Just the opposite. It wanted, and caused, users’ content to disappear. Snap didn’t even want “influencers” to be able to keep track of this content and of users’ activities. Snap was always about the user experience, first and foremost, rather than user data and user growth. This is what made Wall Street so frustrated, and what kept advertisers leery.
Snap set out to to sell professionally-produced content, and games, and services, and entertainment, and even hardware, “to its users”- as opposed to “selling its users” to advertisers, like Facebook does. That was “never” Snap’s base case. That was “always” Facebook’s business plan. Snap never wanted to “sell Snapchat users and their communications as content for profit”.
Snap has been dragged, kicking and screaming, into keeping track of Snapchat users, and into user-growth initiatives, and user-content monetizing. But, once again, we are seeing that Evan Spiegel has been right all along and has been way ahead of Facebook and Mark Zuckerberg for years. Social media, under the Snapchat model, has always been about building the social to sell them the media; not using the social as the media.
Maybe now, advertisers will realize that the Snapchat “user first” experience is better for their respective brands than are business models crafted, primarily, around tracking and selling or sharing user data … which users, and governments, are, finally, rejecting. Where advertisers can be part of the user experience- rather than just interrupting it, and abusing it, it could work out better for advertisers … and better for consumers- and Snap can focus on what it set out to do at Snapchat’s inception- and what it does best- create a fun and fair social platform where it can find ways to entertain, and monetize, respectfully.
About the Writer
Neil Siskind is: President of The Siskind Law Firm, focused on product investments, trademark licensing, product distribution, and real estate; Founder & Chairman of The Fatherhood Assignment™, a think tank and advocate for children with absentee fathers; Founder of the global charity marketing initiative, Caring is Free®; Founder of National Fatherhood Day™; Owner & Conservator of The Neil S. Siskind Nature Preserve, over 8 acres of conserved waterfront land along New York’s majestic Hudson River; and author of The Complete Guide To The Ways To Manufacture & Sell Your Products. If you are in need of office space in South Florida, contact Neil Siskind about space availability at The Siskind Executive Office Complex in Boca Raton, FL.
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