Everything About Snapchat’s Rebranding Strategy | Snapchat is now Snap Inc.
Snapchat is now Snap Inc. The reason behind this rebranding decision is same as it was for ‘Google is now Alphabet’. Snapchat itself is a brand – A brand whose image is set as a text and photo based messaging application for mobile phones. It wanted to expand. It wanted to be in the market for longer than it was predicted.
Take a look at this Snapchat – Facebook Rivalry Infographic.
Snapchat, itself, is a trend. Trends can be copied (which Facebook already did). More bad news – Trends come to an end sooner or later. Snapchat had to do something to maintain its [growing] user-base.
Users are humans. Humans like things that are new and different. Snapchat to maintain its brand image as new and different, has introduced Snap Inc. – A company which makes Snapchat and Spectacles.
Snapchat and Snap, What’s the difference?
As was the case with Alphabet and Google, Snapchat is now a subsidiary of Snap Inc. Snap is a camera company which, at the moment, runs two different companies –
Change in the Brand Positioning
Snap, unlike Snapchat, is no more just a social network which allows users to chat and connect using pictures, videos, and text. It has positioned itself as a full fleshed Camera Company.
This means –
- Change in user target segment
- Snap is now a new competitor to existing camera companies like Nikon, Sony, Google, etc.
- Snap is the parent brand, just like alphabet, and is different from Snapchat. The success/failure of spectacles or any other brand under Snap may have less effect on existing brand equity of Snapchat.
Snapchat Inc. was a niche company and a cult brand. It had a single product, Snapchat, and everything it did, every decision it made, had an effect on its product’s brand equity. Snapchat is a known name in the social media network market. From the launch, on September 2011,the company has devoted 100% of its time in marketing of the mobile application, making it better, and increasing the user-base (the main revenue source of Snapchat is advertisement).
This step of rebranding itself as Snap Inc. also is a great step in increasing the user-base of the application by introducing products which relate and operate with the help of the application.
Snapchat Inc. is now Snap Inc. but Snap Inc. isn’t just Snapchat. This is the big difference. Snapchat has moved on. Facebook isn’t just the only competitor now. Snapchat doesn’t fear its features being copied. It has new plans. It has already succeeded in creating its cult followers. Now it has plans to stay in the market for very long. Hence, presenting to you, Snap Spectacles.
The ghost is awake. pic.twitter.com/pUgkzyhxMP
— Michael Sippey (@sippey) September 20, 2016
Spectacles lets your eyes do the recording for you. It’s the new
product toy (sunglasses) launched by Snap Inc. with a 115 degree-angle lens which let the user record a video for 10-30 seconds. These recorded videos are transferred to Snap’s other product Snapchat, where it is saved as a memory. That is, you need to install Snapchat to view the videos you’ve recorded through the Spectacles
Snap’s spectacles have an edge over Google Glasses because of their looks. Spectacles actually looks like normal sunglasses but with cameras.
Snapchat, which was famous for its portrait oriented videos, has, through the introduction of glasses, introduced a new idea of ‘Circular Video’
What all has been done till now?
Snapchat, just before the launch of Spectacles (and before the declaration of Snap Inc.), has populated the billboards in different cities with this art.
— Evan (@coffeeplusvinyl) September 24, 2016
Snap Inc. doesn’t have a logo yet. It’s all yellow at the moment.
Let us see what’s next.
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