Sweep will launch towards the end of October, releasing geo-locked chats as the first feature. Our marketing strategy will broaden to include a mixture of online direct marketing such as Google install ads and YouTube pre-roll ads, and an offline awareness campaign that includes activations with bars and similar venue
The nature of geo-locked chats at its launch will require event and venue specific partners to promote the Sweep app for free, as it facilitates a unique and exciting communications portal for the recruited venue. Once initial trials have successfully concluded and in support of its commercial model, Thred expects fixed and variable fees from these venue and event specific activations. The Sweep team has established several test locations in Sydney which include Surry Hills, Newtown and Darlinghurst as well as selected venues on the Gold Coast. Following this, Sweep will employ an evidencebased method to deliver the rollout of geo-locked chats in a way that will yield the greatest uptake of users. We will then use crowdsourced suggested locations, generated from users and data on venues. Once these trials have satisfactorily finished, the team will progressively on-board additional localities. Thred will report these trial results as it moves to a broader and controlled rollout across Australia.
With awareness campaigns, (which include partnerships with The Urban List and other popular media companies) activations and influencer incentives, Sweep is confident that it will create a stronger brand presence and thereby decrease its long-term Cost Per Install (CPI). Extensive effort is being applied to venue-based partnership acquisition with a positive feedback already from recruited partners to the geolocked chats value proposition. Over the short-term and further to previous guidance, geo-locked chats will not be available to general users and shareholders outside of selected test venues. Sweep will aim to quickly advance the localities in which geo-locked chats are available and advise shareholders accordingly. Product Update Analysis undertaken by our team of the 15,000 plus downloads acquired has allowed us to determine precise usage of the Thred platform features.
This information allows Thred to make informed decisions surrounding the removal of features that are not popular and enhance those which are. In our announcement to the ASX on the 4th of October the Company provided an illustration of the Sweep app features, reiterated opposite: Sweep is leveraging the core Thred messaging platform (in red box) and adding several new Sweep features (called hero features) namely: geolocked chats; AR Camera, Magnet Feed and the ability to enable integrations and in-app purchases. To facilitate this transition several important actions will occur to deliver the features and required functionality:
THD Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
