Snip - August Update
Greetings to the Snip community!
In August the team has been hard at work on increasing user engagement and making the Snip platform more attractive. A key focus has been the Snip newsletter product which provides a direct channel to users, allows constant iteration and experimentation, and increases the chances that people become everyday Snip users.
The main challenge with adding new newsletter subscribers is Customer Acquisition Cost (CAC) — the less it costs to acquire a single user, the more likely we are to successfully scale the platform to millions and tens of millions of users. So far we’ve found that directly advertising Snip on Facebook, Twitter and Google is cost-prohibitive and that a more scalable approach is to discover high-quality content which is about to become viral and intentionally disseminate it on news platforms and social networks.
Our previous attempts at this method have allowed us to attract tens of thousands of people at a low cost, and we expect upcoming improvements to our news analysis software to bring us to a constant inflow of tens of thousands of people a day. This will be our main focus in the upcoming month.
Additional updates:
1. Content - We have recently been more aggressive in pruning low-quality content, making sure that users only see high-quality content in their feeds.
2. Using and trading SNIP - Qryptos is evolving to Liquid, a new and more advanced exchange. We expect SNIP trading on Liquid to be more robust and popular. We still plan to add an additional exchange in Q2 2018 as well as list on Bancor. As always, our top priority is increasing usage of the Snip product, which will increase usage of the SNIP token.
3. Hiring - Our employee headcount has stayed constant in August.
In sum, in September we expect to start attracting large amounts of people into the Snip platform and ecosystem using our new tech tools. We will continue to update and are happy to hear feedback from the community. For advice, questions, and clarifications you’re welcome to ping us on Telegram.
The Snip Team
