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Post on 29-Apr-2018
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RE-DEFINING THE “PRODUCT”• The Internet has created a radical re-definition of the word
“product”• It is no longer a physical good• It is the code that you put together to create software “products”• “Products” can now market themselves as they are used
THE HOLY GRAIL – THE VIRAL LOOP• A product that generates it’s own traffic is
the Holy Grail• Has a compounding effect and improves ROI
everywhere• Everyone who uses your product should
share it• If every customer brings at least 1 other you
have a viral loop • A viral coefficient > 1 achieves exponential
growth
THE HOLY GRAIL IS NOT EASILY ATTAINED• A viral coefficient > 1 is extremely
hard to achieve• Any viral coefficient > 0 will have a
positive impact• Increases the amount of customers a
given campaign could have brought in and improves ROI
• Improves effectiveness of all marketing, saves money
• Work towards the holy grail and you will be better for it
CASE STUDY: AIRBNB HACK CRAIGSLIST• AirBnb achieved incredible growth in a short space of time• Realised that most of their target market was using
Craigslist• Created a piece of code so that any AirBnb listing could be
automatically posted to Craiglist• Craigslist did not have a public API so AirBnb reverse
engineered the process• Created tons of inbound links and traffic• Seems obvious now – doesn’t it?
THE PERFECT EXAMPLE…• Did something traditional marketers would have a hard time
envisioning• Used their product as the primary means of distributing
their product• Saw where there customers were congregating and hijacked
them• Creative and ingenious• Heavily technology based• Pushed the bounds of what is acceptable
SO HOW CAN WE DO IT?
• Network Invitations• Take it to the next level (e.g. Dropbox)• Cater to your audience• Low cost to you – high value to customer
• Social Sharing• API Integrations• Backlinking• e.g. AirBnB & Hotmail
• Organic – make great products• Plenty of different ways• User profile & business goals *NB
DEVS HOLD THE KEY!• Break down the barriers
between Devs & Marketing• Be eager to learn and go
outside your job description• You know the product better
than anyone else!• Think about the customer
experience and create a product that is easy to use and share
• Share your knowledge• Not only Devs & Marketing
but EVERYONE!
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