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Snapchat’s Reportedly Looking to Cull Over 1,200 Jobs as Part of its Broader Cost-Cutting Efforts

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Snapchat Adds 13 Million More Users in Q1, Sees Steady Increase in Revenue

The horror run continues for Snap, with the company reportedly set to lay off around 20% of its workforce as it seeks to drastically cut costs amid worsening market conditions.

As reported by The Verge, Snap’s planning to cull more than 1,200 full-time roles as part of a major restructure aimed at getting its business back on track.

As per The Verge:

“The layoffs, which Snap has been planning for the past several weeks, will begin on Wednesday and hit some departments harder than others. For example, the team working on ways for developers to build mini apps and games inside Snapchat will be severely impacted. Zenly, the social mapping app Snap bought in 2017 and has since run separately, will also see deep cuts.”

Even more concerning for the company’s longer-term prospects, Snap will also be looking to cut staff from its hardware division, which is currently focused on AR-enabled Spectacles. Snap also recently announced that it will cease production of its Pixy selfie drone, which it launched just four months ago as a new way to capture content. 

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AR in particular is a key focus for Snap’s future development, with the platform continually leading the way on the latest AR innovations, despite competing against far bigger companies in Apple and Meta on the same.

If Snap’s forced to take a back seat with its AR Spectacles, that could be a major blow for the company’s plans, which could eventually see its competitors take over the space, and force Snap to the outer, limiting its growth potential.

But at the same time, Snap has to do something.

Shares in Snap are down 80% this year, due to various factors, including the war in Ukraine, which has impacted European ad spend, along with rising global interest rates, and Apple’s iOS privacy changes, which have impacted ad targeting capacity in the app.

That, in turn, has reduced ad effectiveness, and thus, advertiser interest, though Snap has been working to reassure ad partners that it is developing solutions. It’ll just take time.

Incidentally, that advice came from Snap Chief Business Officer Jeremi Gorman during the company’s Q1 earnings call in April this year, and Gorman is now among those that will be departing Snap amid this latest shift (Gorman and another former Snap exec, Peter Naylor, are both joining Netflix to oversee its development of a cheaper, ad-supported subscription model).

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Snap had already announced that it would ‘substantially reduce’ hiring as part of its broader cost-cutting efforts, while in May, it also issued a profit warning due to a worsening ‘macroeconomic environment’.

As such, the news of potential job cuts is no real surprise. But the scale here is significant.

How will cutting 20% of its headcount impact development, and change the course of the app, potentially for years to come? We don’t know how long the latest economic downturn will last, nor how long it might take for Snap to reimagine its ad targeting system, but right now, both seem like they’re a way off.

Then again, as The Verge also notes, Snap has increased its staffing numbers significantly over the last two years, and it may be that this is a rationalization that needs to happen – much like Meta’s looming job cuts, which CEO Mark Zuckerberg has stated are a designed to ‘turn up the heat’ on poor performers.

With that in mind, it might not be the destabilizing shift that it, initially, seems.

We’ll soon find out, with Snap reportedly looking to get the process underway this week.

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Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

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Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.

The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.

According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.

Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.

Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.

The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.

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This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.

Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.

As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?

Only time will tell.

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Catering to specific audience boosts your business, says accountant turned coach

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Catering to specific audience boosts your business, says accountant turned coach

While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.

When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.

“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.

Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.

“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.” 

“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.

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“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.

Watch the video for more of Sandra Parker’s biggest lessons.

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Instagram Tests Live-Stream Games to Enhance Engagement

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Instagram Tests Live-Stream Games to Enhance Engagement

Instagram’s testing out some new options to help spice up your live-streams in the app, with some live broadcasters now able to select a game that they can play with viewers in-stream.

As you can see in these example screens, posted by Ahmed Ghanem, some creators now have the option to play either “This or That”, a question and answer prompt that you can share with your viewers, or “Trivia”, to generate more engagement within your IG live-streams.

That could be a simple way to spark more conversation and interaction, which could then lead into further engagement opportunities from your live audience.

Meta’s been exploring more ways to make live-streaming a bigger consideration for IG creators, with a view to live-streams potentially catching on with more users.

That includes the gradual expansion of its “Stars” live-stream donation program, giving more creators in more regions a means to accept donations from live-stream viewers, while back in December, Instagram also added some new options to make it easier to go live using third-party tools via desktop PCs.

Live streaming has been a major shift in China, where shopping live-streams, in particular, have led to massive opportunities for streaming platforms. They haven’t caught on in the same way in Western regions, but as TikTok and YouTube look to push live-stream adoption, there is still a chance that they will become a much bigger element in future.

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Which is why IG is also trying to stay in touch, and add more ways for its creators to engage via streams. Live-stream games is another element within this, which could make this a better community-building, and potentially sales-driving option.

We’ve asked Instagram for more information on this test, and we’ll update this post if/when we hear back.

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