SWOT and business model analysis

Soul is a dating app founded in 2016; it aims at creating a safe environment for people to express their authentic personalities,

Now Soul has ten hundred million users; the company is valued at 20 hundred million; it is expected that the Soul app will be the most popular dating app in China.

There are many reasons why users love Soul, virtual identity, interested-based community. Many people raising questions about the company’s ability to develop so fast, A SWOT and business model analysis can help explore the opportunities and threats. It will also contribute to finding out the strengths and weaknesses and the business model.

strength

1. Unlike Culture brands, Soul is a sensory and emotional brand; it tackles emotion and social problems. Soul is different from other dating apps.

2. Soul focused on interested-based communities; by using AI, it's more effective to find new friends with similar interests or personalities.

3. The Soul is an app where people can socialize through avatar-based virtual identity; the virtual identity creates a safe, interesting, friendly environment; people can make friends through voice and word expression. Without face bias, people will make friends more confidently and freely.

4. AI-powered tests and activities power a new generation of online interaction and increase customer stickiness.

Weakness  

1. Due to ineffective user management, some users' content negatively affects the app; on the other hand, some users complain the management is too strict, they cant express themselves freely.

2. The juvenile and unstable system cause a bad user experience, such as too much notification and confusion about information management. Even users develop interconnection with soul mates; they will move to other chat platforms, causing a negative influence on users. 

Opportunity:

1. Good public image, a healthy community attracts high-quality users and increase referral rates.

2. The app's ranking is good; the number of users is increasing steadily, most of the users still believe they can make soul friends in the Soul app. 

3. Robust digital economy: The digital economy has been developing fast lately; for example, Facebook makes 99% of its revenue by advertising. The Soul can earn value through value-added service, which is pretty advanced micropayments in a digital economy. 

Threats

1. The SOUL's business model can be easily copied; the entry barrier is low.

2. Fierce competition in the social apps industry, mature dating apps such as Tantan, Momo tinder are taking the market share; the Soul app has to stand out or disappear like other dating apps.

3. Making friends without a picture but using AI-powered tests is a strength and a threat; new matching methods are appearing every day, the Soul should create a more interesting context to lead users. Upgraded AI-powered matching system to create true soulmates. 

Business model

Soul should maintain its strengths and address the weaknesses in the SWOT. The aim should be to turn weaknesses into strengths. The team should work and exploit the opportunities and avoid the weaknesses. Soul can focus on revenue to support the corporate and reduce cost in the cost structure

600 words

https://www.jianshu.com/p/49ab6d9c2af8

http://www.yunying166.com/newsitem/278247891

Ting XIANG