SWOT Analysis

Strengths

  • Gap in the market - there are currently no other app-creation platforms that focus on delivering video.
  • Strong USPs - I believe VideoAppShack’s USPs are strong enough to make it stand out from the competition.
  • Web based - as a web based company, a lot of the business logic can be automated through software.
  • Booming industry - there is undoubtedly a huge migration towards the web for content consumption and it can’t be ignored.

Weaknesses

  • Niche market - the intended market is quite limited: SMEs with a library of video content.
  • Simplicity may not be enough - customers may be looking for more flexiblity.
  • Fast paced industry - a fast paced industry has it’s benefits and it’s pitfalls. It can be tricky to keep on top of trends, but if we can sucessfully keep ahead of the curve we will be reaping the benefits.

Opportunities

  • No geographical limitations - as a web-based service the business can be run out of one location and we have the potential to serve customers across the globe.
  • Emerging technologies - by recognising emerging technologies and looking for ways to apply them to our platform we can offer unique features that our competitors can’t.
  • Few competitors - we have no direct competitors. Other app creation platforms technically have support but their implementations pale in comparison.
  • Opportunity for partnerships with agencies and hosting providers - by seeking partnerships with video production agencies and video hosting providers we have the potential to tap into their customer bases.
  • Promotional opportunities with clients & partners - similar to above, by offering sponsorships we can raise awareness of the brand. Potential clients will be consumers of online video themselves.

Threats

  • Competitors - despite having no direct competition there is a chance that other app creation platforms may adapt to offer a product similar to ours.
  • Third-party legal - by utilising existing hosting providers, we’re subject to their terms. This could be combatted by building our own hosting platform.
  • Fast moving industry - as the industry evolves, trends may shift towards other consumption mediums. Competing companies may pop up.

Overall I think the strengths and opportunities outweight the issues highlighted in the weaknesses and threats.