Is It Just A Product Game To Justify The Valuation?

Here’s the thing – Apples, Snaps, and Googles, all in it to win it. Facebook’s catching up, playing around with tech and AI with VR around the corner.

Snapchat changed its features to reflect its focus on hardware and everything around – Moments and Experiences. Which could mean hardware cameras and software memes :)

1M+ views and likes/dislikes disabled and comments turned off. Casey Neistat should have been roped in, but he’s busy competing in the social space with Beme – another player who thinks – “Experience” and “Authenticity” are the corner-stone of all media shared by humans. Beme failed subsequently.

Snap’s PR outreach is also weak. It’s boring, and not exciting. If there was any company that could have done this it was Snapchat, but it’s a hefty price to pay for these goggles. But what’s the problem -

“THERE IS NO EPHEMERAL NATURE TO THESE GLASSES”

The whole premise of Snapchat is its “chill”. Now if people start buying these bulky goggles and paying a ridiculous sum for it – it’s a bummer and doesn’t match its core ethos.

Now if the snapchat glasses (spectacles) were low-tech blue-tooth, 5 MP camera attachments and battery outlets with a cheaper, thinner material that you could pick up for $50-60 and toss away when you’re bored – That would have been a “category killer”. THEN, Snapchat could have upsold to a $130 model. But these will be offered across all malls, concerts, and shopping areas across the world in no time, and sales might not pick up as its expected.

This is the product game. Founders seeing the future, and wanting to reach it so fast that they forget the journey they must go through.

It’s funny, because the video is weak and Snapchat has actually acquired a media buying and media production company. But the problem is that at the $130 price point, Evan (CEO) calls it a “TOY”. Which is even more detrimental. There is no synchronicity in messaging across media, and the communication look fake. That’s not what Snapchats all about.

Now why did they do it? Because Investors were told early on that that’s what they would be getting. Hence the crazy valuation. Same with Uber, who’s investing in driverless trucks. It’s a product game to justify the valuation.

They’ll have to rope in a lot of influencers to push this out, and connect with trend masters to see who’s hot and who’s not. But this won’t I think have a detrimental nature on the app I assume.

References -
https://www.thestar.com/business/2016/09/28/snapchat-set-to-roll-out-sunglasses-that-record-video.html
http://www.theverge.com/2016/9/23/13039184/snapchat-spectacles-price-release-date-snap-inc
https://www.cnet.com/products/snapchat-spectacles/preview/
https://www.spectacles.com/
http://www.cnbc.com/2016/09/26/why-snapchats-new-glasses-could-be-more-than-just-a-toy.html
http://bgr.com/2016/09/24/snapchat-glasses-video-recording-price/
 

About the author  ⁄ Sanchit Khera

Sanchit Khera

Sanchit Khera is a brand strategist and marketing consultant in Mumbai, helping brands overcome sales, communication, digital, and PR challenges with the help of branding strategy. He has helped a few of the top 10 B2B brands in India with their digital and traditional marketing needs, and many others across tech, banking, CSR, and consumer brands (Godrej, ICICI, Tata Capital, D’Decor, Texas Instruments, XPrize) . Effectively, he has introduced creative brand strategies, consumer insights, and solid case-driven frameworks to organizations with existing agencies (digital or creative) that require branding help or need a bit of training to escalate their core strengths. He is at fivemv.com/marketing-consultant.

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