What’s a Snatter?

A discount social marketing platform for retailers called Snatter.com has launched in closed beta, and its U.K.-based developer is convinced it will quickly matter to the retailers and shoppers who sign up for the free service.

Snatter.com promises to revolutionize social media marketing campaigns by rewarding users for Tweets and Facebook updates of products they’re about to purchase. By exchanging discounts for user-generated publicity, Snatter executives believe retailers can build the kind of social media buzz that drives sales.

In exchange for posting a Facebook or Twitter status update about a product or service, the user receives a discount on that product or service. Each update also contains a link allowing the posters’ Facebook friends and Twitter followers to do the same – post a review and receive a discount.

“It’s a completely transparent service,” says founder Grahame Cohen, and differs from other takes on social media marketing because users are only offered discounts on the products they’re about to purchase and Snatter takes no affiliate commission from retailers.

The Snatter website is currently offering retailers the ability to request beta accounts to manage live campaigns during the controlled launch period. An API offering greater flexibility and integration of existing shopping catalogs and cart systems is scheduled to go live shortly.