Transcript
Page 1: How To Build Your Product For Viral Growth

How To Build

Your Product

For Viral Growth .

Thoughts and actionable tips on virality and word of mouth.

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The last 2 months our customers gathered more than

100,000 leads

and 60,000 referrals.

Viral Loops is the first complete Viral Marketing Platform

and backed by VentureFriends.

It’s built by GrowthRocks, one of the first growth hacking marketing teams,

and has been featured in publications, like:

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Why Virality &

Word Of Mouth ?

Because it’s a killer marketing channel.

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Word of mouth is the primary

factor behind 20% to 50% of

all purchasing decisions .

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Word of mouth is 10x more effective

than traditional advertising .

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By increasing virality,

you decrease your CPA .

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Instagram’s

Viral Growth .

How Instagram orchestrated virality.

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Social Multi-User Activities

Was The Growth Key .

Unlike its competitor, Hipstamatic, Instagram encouraged the photo creator to share the photo on an external network like Facebook.

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Converted Its Users

Into Marketers .

Every time users used the app, they shared their creations externally.

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Word Of Mouth

Is About WOWing Your Customers .

What WOM is, and what is not.

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Word of mouth is a phenomenon where people

love an offering so much, they just cannot stop

talking about it .

Word of mouth is fuelled by a company’s ability to convert users into passionate fans.

Source: Sangeet Paul Choudary

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How You Can

Generate WOM .

• A great product or service is the most important thing

• Awesome support

• Build communities

• Love your customers, and they will love you

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Rackspace’s

Fanatical Support .

During a marathon troubleshooting session, a support engineer heard the customer was hungry, so she ordered them a pizza!

Source: hbr.org

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Shazam generates WOM

through human nature .

When you search for a song, your friends are curious of what you’re doing, and then ask you about it.

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Revolut solves a

real problem .

Revolut is an international money account. It helps you transfer money abroad and make your online purchase without any hassle.

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Virality Is Not

WOM .

What Virality is, and what is not.

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Virality is a phenomenon where people

spread the word about an offering,

in the context of using it, rather than loving it .

The existing users gain value out of taking an action, which in turn, exposes the underlying platform to new users.

Source: Sangeet Paul Choudary

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Kickstarter Leverages

Its Projects For Going Viral .

When a Kickstarter creator spreads the word about his project, he helps Kickstarter reach higher user adoption.

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Product Hunt Leverages

Its Products For Going Viral .

When a hunter submits a product, both the hunter and maker spread the word about it, bringing in more people in the platform.

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Network Effects & Virality

Are Not The Same Thing .

Both lead to growth and scale, but they’re not the same thing.

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Eventbrite Leverages Virality

But No Network Effects .

Eventbrite is a platform for booking tickets for events. Eventbrite events find registrants only when they are shared in external networks.

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LinkedIn Has Network Effects

By Design .

In order someone to connect with you in LinkedIn, he has to be in LinkedIn, too.

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Virality is a business design problem,

not a marketing or engineering effort .

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How To Design & Build

Your Viral Growth ?

Let me show you how we apply this approach in Viral Loops.

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What Is Viral Loops ?

Viral Loops is the all-in-one viral marketing platform to launch your referral programs, sweepstakes, competitions and pre-launch campaigns.

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Why will the sender send units out

of the platform ? #SenderIncentives

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Why Someone Will Spread The

Word About Viral Loops ?

Because like in the Kickstarter case, the campaign creator wants to spread the word about his referral program, competition or another campaign created in Viral Loops.

Additionally, the participants will share the campaign to win.

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What is the minimum transferable unit

on the platform that can move on an

external network ? #SpreadableUnit

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Viral Loops’

Minimum Transferable Units .

• ViralWidget Pop-up

• Emails

• Leaderboard

• Widgets

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Where will the unit of the platform

meet non-users ? #ExternalNetwork

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We deeply believe

in Facebook and Messenger .

It also depends from our campaign creators.

But we can drive this behaviour.

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Examples On Successful

External Network Exploitation .

• Paypal —> eBay

• Airbnb —> Graiglist

• Zynga —> Facebook

• WhatsApp —> Phonebook

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Why will a non-user on an external

network convert to a user

on the platform ? #RecipientIncentives

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Why should a non Viral Loops

user become one ?

If he’s in a similar business like the creator of the campaign or he can leverage Viral Loops for his own business, he will sign up.

In order to do this, we need to build two things in our product:

• Stellar end-user experience • Mechanisms for helping campaigns succeed.

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The 2 Types

Of Virality .

You can leverage both for your mobile app.

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Product Virality .

Pull product virality (PPV): Product virality where existing users require people in their network to join to gain value out of a feature.

Splitwise Need friends on the product to input money owing and money lent.

WhatsApp You should have your friends and family in to communicate.

Snapchat You should have friends in Snapchat to see snaps and be seen. Source: Philip La

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Product Virality .

Distribution product virality (DPV): Product virality where existing users spread awareness of a product to their network.

Instagram Cross-posting You share your photos in Facebook and Twitter. Non-users will get in.

Facebook Photo-tagging In the early days, if a tagged friends was not in Facebook, she would receive an email prompting her to create an account.

Source: Philip La

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Airbnb’s Viral Loop .

How Airbnb increased bookings with a kick-ass referral program.

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The Concept .

The referral program encourages inviting friends by giving both the sender and recipient $25 of travel credit at Airbnb when the invited user completes their first trip.

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Cross-Platform .

They launched their referral program in all platforms. Not so many companies do it for some reason.

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Optimization .

They A/B tested several parts of the program, including message psychology.

Hooray, A/B Testing :)

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Personalization .

They use deep linking to personalize the invitation experience.

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The Result .

Airbnb increased overall bookings by 25% in some markets, and signups and bookings from the program itself by 300%.

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Viral Marketing

& WOM Channels .

How to get your mobile app go viral.

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Image source: Sean Ellis

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2016’s Viral Channels .

Snapchat has 200 million users, sending over 400 millions snaps everyday!

Facebook introduced the Messenger platform to help you

build your bot and reach 900 million people around the world.

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How Uber Made A Bot

Become Their Actual App .

Uber’s partnership with Facebook takes things to the next level by allowing a car to be summoned from within a conversation. Uber taps into Facebook Messenger’s 800 million users though a very basic bot.

There’s no need to download an app. The bot is the app.

Source: intercom.io

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Build your own chat bots .

Messenger Platform msg.ai wit.ai

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How To Measure

Virality .

If you can’t measure it, you can’t improve it.

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The Viral Coefficient

(aka k-factor) .

K-factor is the total number of registrations per unique inviting user.

Say that, on average, 1 in 5 of our users will successfully recruit a new user in their first month. In other words, our viral factor is 1/5 = 0.2, and our initial 5,000 users will recruit another 5,000 * 0.2 = 1,000 users in month 1.

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For a consumer internet product, a sustainable

viral factor of 0.15 to 0.25 is good, 0.4 is great,

and around 0.7 is outstanding .

Source: Rahul Vohra

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The Amplification Factor .

The amplification factor is calculated as follows a = 1/(1-v)

To calculate our total number of users, all we have to do is multiply the number of users acquired through non-viral channels by our amplification factor.

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Anatomy Of A Viral Funnel .

You should treat your viral loop as a funnel with several stages that can be optimized, so as to maximize your viral factor.

You could a use a mobile analytics tool like Mixpanel.

Invite Prompt Rendered

Invite Form Submitted

Invite Sent

Registration form loaded (by invitee)

Registration completed (by invitee)

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Savvas Zortikis CEO at Viral Loops

[email protected] @SavvasZortikis

Thank you!

Do you have any questions? We’d be more than happy to get in touch! :)


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