Snap CEO Quite hopeful with New Marketing Strategy to Produce Profits in 2019

This has not been a good year for the Snapchat parent company, Snap. This year the company’s stock has nearly been cut in half. The main reason for this is the redesign that no one liked. Also, the Snap has not improved its stories feature that actually, the company created but Instagram has gained huge popularity on it. Instagram introduced its stories five years after Snapchat did. Now, Instagram has twice the number of daily active users for its stories feature than Snapchat did. It means, the company needs such a marketing strategy that will help the company to get its revenue back. In this regard, Snap CEO Quite hopeful with New Marketing Strategy to Produce Profits in 2019.

A Leaked memo revealed that Snap CEO Quite hopeful with New Marketing Strategy to Produce Profits in 2019

A memo written by Snap Chief Executive Evan Spiegel on September 26th has leaked. The memo revealed that the executive is focused on profitability for 2019. He says that Snap will achieve this by attracting older users through “revamped marketing”. Snap CEO also wants to increase the number of advertisers. Also, the company is also focusing on the upcoming redesign to Snapchat’s Android app to gain the subscribers in emerging markets.

During the second quarter of 2018, the average number of daily Snapchat users declined to 188 million from the prior year’s 191 million. That was the first annual decline for that statistic in Snapchat history. However, Spiegel appears optimistic that he can help the app and the company grow out of its problems.

According to some reports, Snapchat Latest Feature will Let You Make Purchases through Amazon. The new addition, which is apparently being referred to internally as “eagle,” looks set to launch under the name of “Camera Search” or “Visual Search”. By pointing the Snapchat camera at a product barcode, an object, or even a speaker, users will be able to long-press on the screen and receive relevant information provided by partners. For example, via a partnership with Amazon, when you scan or barcodes the, a store link will pop up. This link will allow users to “See all results at Amazon.”

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Onsa Mustafa

Onsa is a Software Engineer and a tech blogger who focuses on providing the latest information regarding the innovations happening in the IT world. She likes reading, photography, travelling and exploring nature.

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