SWOT Analysis of Quora – The World’s Largest Social Q&A Platform
Both the content and the development of it rely on people. This SWOT analysis of Quora provides in-depth details about this large, people-focused platform. Quora employs many people to ask and respond to all types of questions about society. Over five million different topics are covered on the website. Indians and other populations outside the United States enjoy great success and popularity with it.
Due to the effectiveness of its services and high visibility, the website dominates its market globally. Today, building a brand image requires a lot of effort. Keep scrolling to read the detailed SWOT analysis of Quora.
An Overview of Quora | SWOT Analysis of Quora
Quora was established in 2009 by two former employees of Facebook, Charlie Cheever, and Adam D’Angelo. The whole motive was to provide the public with a platform where they could post their questions related to general research, information, and technical research, Quora was founded. Those with expertise in those fields provided the answers to those queries. When Quora became accessible to the general public, it won widespread acclaim. The subject experts highly regarded the public or its users’ responses. Some users use Quora to expand their social networks.
The amount of traffic to Quora’s site kept growing rapidly over time. Five to ten times as many users visited Quora’s website as usual. The website decided to display ads in 2018 for the audience who are visiting the platform; advertisements were not displayed until 2018. The website continued to expand and change. Over the years, it grew and challenged to Reddit, Wikipedia, and Yahoo Answers.
Company Name: Quora
Founders: Adam D’Angelo, Charlie Cheever
Founded: June 2009
Headquarters: Mountain View, California, United States
CEO: Adam D’Anglo (2009-)
Sector: Social Media
Tagline: Questions Quorable, Answers Adorable
Unique Selling Proposition (USP): To become the largest Q&A platform in the world.
Revenue: 20 million USD (2022)
SWOT Analysis of Quora
SWOT analysis is a practical tool for creating effective business policies for both startup and established companies. This streamlined methodology is employed to evaluate a company’s ability to compete. The organization can develop operational and resourceful business strategies with the aid of a SWOT analysis of Quora.
Quora’s Strengths | SWOT Analysis of Quora
1- User-Friendly Platform
People working with the general public is the foundation of Quora. The company’s greatest asset is its workforce. It draws a sizable audience from all over the world who have different traditions, languages, and cultures. It’s an intriguing website that gives users a sense of a social network and search engine.
2- Good Purpose
The website aims to provide users with answers and increase their knowledge of various topics or how to find accurate answers to their inquiries.
3- Equal Opportunities and Rights
Quora is a useful website that offers many opportunities and is user-friendly. Every Quora user enjoys the same privileges from the platform, the same rights, and equal opportunities.
4- Strong User Base
Like its rival apps, Quora does not require anyone to download it to access the additional information or solutions that its users seek. With more than 5,000,000,000 topics covered, it has a very strong user base that spans the globe.
Quora’s Weaknesses | SWOT Analysis of Quora
1- No Blogging Site
In terms of blogging, Quora needs to improve. The platform’s user base can contribute a lot of high-quality content. Quora only needs to update its blog publishing option, detach it a little from the question-and-answer platform, and monetize it.
2- Low Profit
Only $20 million is the relatively low annual revenue for Quora. If they are unable to raise additional funds, Quora will run short of money before it gets lucrative.
3- Justification of Answers
Nobody can defend whether or not the answer to a specific question on Quora is correct, which is one of its drawbacks. Additionally, the popular responses on Quora are only sometimes the best responses. As a result, unrelated information started to circulate on social media.
4- Duplication of Queries and Answers
On Quora, most of the questions are repeated using sentence formatting, confusing users.
Quora’s Opportunities | SWOT Analysis of Quora
1- Revenue Sources
In addition to paying users for verified answers to questions, Quora can expand its advertising. Users would enjoy sharing their content and receiving payment, and Quora could profit handsomely by taking a cut of the sales, much like Google does.
2- Define a Clear Direction
It needs to stop being aimless. Quora needs to decide whether it wants to develop into a social media site, a platform for exclusively asking and answering questions or a forum for sharing knowledge-based content. It ought to increase gradually. The platform should take advantage of this opportunity to increase its monopoly power.
3- Grow Business
For its users worldwide, Quora offers a high-quality platform for business promotion. After 2018, it stepped in with ads, giving various businesses opportunities to market and expand their enterprises. It has a “Create Ad” account for advertising purposes. The user may also follow accounts for their pertinent interests through this account.
4- Capture Interesting Topics
If it keeps expanding, Quora could overtake other Q&A websites as the go-to place for reliable answers. There are abudance of topics that have yet to be fully explored.
Quora’s Threats | SWOT Analysis of Quora
A lawsuit was recently filed against Quora by one of its users, alleging that the platform’s ban on publishing hate speech content violated their First Amendment rights. Although Quora did the right thing, these kinds of behaviors are always detrimental to a company.
2- Threats to Networks and System
Without much effort, Quora does not guarantee the accuracy of the available information or the answers. It does not attempt to verify the integrity of the information or the answers. Occasionally, users will warn Quora about threats to their networks and systems.
3- Risk of Acquisition
To improve its publishing capabilities and reputation, Quora might be acquired by a powerful organization like LinkedIn, which has already tried LinkedIn Answers.
4- Fierce Competition
Users favor Cortana, Google, Siri, and Wikipedia over Quora when looking for reliable responses to their questions, and these platforms are widely used for both asking and receiving questions.
Service Offered by Quora
- Q&A Platform
Competitors of Quora
The Bottom Line | SWOT Analysis of Quora
Since its inception, Quora has been one of the most popular online resources for finding answers to your questions. Despite the growth of Google and Wikipedia, Quora has maintained its position by providing its users with high-quality responses from subject-matter specialists. Due to the team’s commitment and diligence, Quora will be among the most widely used Q&A websites worldwide. We hope this Quora SWOT analysis has provided helpful information about the platform’s strengths, weaknesses, opportunities, and threats.
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