How would you prioritize Snapchat's strategy?

Certainly, I'll provide a detailed, strategic answer to the question "How would you prioritize Snapchat's strategy?" from the perspective of a seasoned VP of Product interviewing for a senior product leadership role. I'll structure the response as requested, using a first-person perspective and adhering to the formatting instructions.

Introduction

As we consider Snapchat's strategic priorities, we're essentially looking at how to position a mature social media platform for continued growth and relevance in a rapidly evolving digital landscape. The key business objectives we need to address include user growth, engagement retention, monetization, and maintaining a competitive edge in the face of emerging platforms and technologies.

To tackle this challenge, I'll walk you through a comprehensive approach that includes:

1. Clarifying our strategic goals
2. Analyzing the market and competitive landscape
3. Defining our product vision and roadmap
4. Prioritizing key initiatives
5. Outlining an execution plan
6. Establishing metrics and KPIs
7. Managing risks and planning contingencies

Let's dive in and explore how we can shape Snapchat's future.

Step 1

Clarify the Strategic Goals (3-4 minutes)

Before we dive into specific strategies, it's crucial to align on our primary objectives and context. I'd like to ask a few questions to ensure we're on the same page:

• Given Snapchat's position as an established player in social media, I'm curious about our current growth trajectory. Are we primarily focused on user acquisition in new demographics or markets, or is our priority deepening engagement with our existing user base?

Why it matters: This will help determine if we prioritize expansion features or focus on enhancing core experiences. Expected answer: Balanced approach, with a slight lean towards engagement given market saturation. Impact on approach: Would influence the balance between new feature development and optimizing existing functionalities.

• Considering the evolving social media landscape, particularly with the rise of short-form video platforms, how do we view Snapchat's core value proposition today? Are we still primarily a camera and messaging app, or are we positioning ourselves more broadly as an entertainment and content platform?

Why it matters: Defines the scope of our product strategy and potential areas for innovation. Expected answer: Evolving towards a broader entertainment platform while maintaining our camera-first approach. Impact on approach: Would guide decisions on content partnerships, creator tools, and feature development priorities.

• In terms of monetization, are we satisfied with our current ad-based model, or are we exploring new revenue streams such as e-commerce integrations or premium features?

Why it matters: Influences our product roadmap and potential business model innovations. Expected answer: Primarily ad-based, but open to exploring complementary revenue streams. Impact on approach: Would affect how we prioritize features that could open up new monetization opportunities.

Based on your responses, I'll synthesize these insights into key strategic assumptions that will guide our solution approach.