Snapchat has a market value of upwards of 25 billion and millions of users. So, it stands to reason that its newly released Snapchat Spectacles should be a product that will hit the ground running? After all, they're glasses where you can easily take videos on the move. In fact, they're really a thinner GoPro headset, albeit less bulky, and in the form of glasses. Surely this is going to catch on, right? Well, not so fast.
Yes, there are millions of Snapchat users and yes, it's an interesting product. However, whether it applies to business markets, and whether big data marketing teams can leverage it as a lead generation tool has yet to be determined. There are possibilities, but there are some inherent drawbacks. So, will this product take off or is it nothing more than a gadget-of-the-moment? More importantly, is there any potential for business-to-business (B2B) marketing teams looking to improve lead generation?
Pros of Snapchat Spectacles
This is a lightweight product and fits on your face like any regular pair of sunglasses. Most importantly, it's not Google Glass, a product that was widely criticized by social media, consumers, privacy advocates and even SNL itself. Having an easily visible and obvious camera on a pair of glasses made non-users feel infringed upon when being approached by a Google Glass user - and for good reason.
Snapchat Spectacles are different. For one thing, there's no obvious camera. There are circular lenses at the top corners of each side of the glasses. Also, it's not immediately obvious to non-users whether they're being recorded or not. You simply tap the button to record. After that, you can upload the video onto Snapchat, review it, add emoji's, text and images. The glasses recharge on their own within their plastic cases after use.
It's an interesting product that will appeal to the younger audience of Snapchat. Plus, Snapchat has also decided to create some demand for their product by limiting its availability to a select few yellow vending machines.
Cons of Snapchat Spectacles
First, it's not entirely certain whether the $130 price tag is market-sensitive enough. Second, creating scarcity to drive demand may not work if there're not enough adopters. Third, the styles are limited. In fact, there's only one and that style is more for women than men. Fourth, the videos only last 10 seconds. Anything longer involves multiple tapping of the button. Doing that means you can probably go up to 30 seconds.
Several initial reviews are questioning the functionality of the product. There's no voice command and videos aren't always easily uploaded. Having to constantly tap the button to record isn't very functional either.
Snapchat Spectacles and Business-to-Business (B2B) Lead Generation
So, what does this mean for B2B big data marketing teams? Is it a product that makes sense for lead generation? Well, that's not entirely clear. First, the product must have staying power. Right now, it's new, not entirely accepted and may never fully take off. Second, there are still concerns about privacy. Will non-users refuse to be recorded? Will it cause concerns with privacy advocacy groups the way Google Glass did?
Third, how will this be used for B2B lead generation? If the product is meant for millennials, then what use will it have to those interested in business lead generation? Each of these questions can't possibly be answered until the product has reached market-wide adoption and when that will happen isn't entirely certain.
At this point it's best to take a wait-and-see approach with Snapchat Spectacles. Ultimately, it's not clear what role it will have, if any, for B2B lead generation. Monitor the product moving forward and keep abreast of any emerging trends.
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