At Samuel 17, we’re all about identifying under priced opportunities for our customers in the digital world.
It’s November 2017 and we are very bullish on Snapchat Geofilters for at least the next two years. Our sales reps are out pushing this service to potential clients as we see a huge opportunity ahead.
When you buy a geofilter, Snapchat gives you roughly three basic metrics: swipes, uses, & views.
Swipes: Number of times people swiped and saw your geofilter.
Uses: Number of times people sent/posted your geofilter.
Views: Number of times people opened a snap with your geofilter.
With this data, you can easily calculate a CPM (Cost per thousand impressions) as well as your Swipe to Use Ratio. Your Swipe to Use ratio will determine how “attractive” and “likely to use” your Snapchat filter is.
The NEW “Effectiveness” Feature
Over the summer of 2017, Snapchat release their new “Maps” feature. This let’s Snapchat track you and all of your friends to show where they have been and where they are right now.
The Effectiveness Statistic would show Geofilter purchasers what % of people that viewed the geofilter then went on to visit the location within the next 7 days.
This statistic would make or break the Snapchat Geofilter service for local business. It will show exactly how effective a Geofilter is at getting new people to come to your business.
This statistic could revolutionize the way Snapchat makes money, and it could explode revenue for the businesses that begin to adopt the Snapchat Geofilter service.