going viral strategies shared by pathik - hike for #pnmeetup
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Going Viral strategies shared by Pathik - Hike for #PNMeetupTRANSCRIPT
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GrowthPathik Shah@pathik@hikeapp
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Why am Ihere?
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hike
0-1M in 8 weeks
1-2M in 2 weeks
We’re now 14 weeks since global launch
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hike
Hit #1 on Google Play India
Hit #1 on iOS App Store India
Hit #2 on WP Marketplace India
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Start Ups
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6
AwesomeProduct
VastDistribution
SmartMarketing
InnovativeBusinessModel
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Product: Decides your eventual fate
Distribution: Accelerates it
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Product
Core Product Value
User Experience/Design
Product Market Fit
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Distribution
“Startup = Growth” - Paul Graham
“Distribution is the biggest problem faced by everyproduct/startup” - Peter Thiel
“Distribution and retention are harder on mobile than onweb” - Fred Wilson
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How?
OrganicOnline ads
Social MediaSEO/SEM
Traditional ads
Organic
Mobile ads
Social Media
Appstore gaming
Traditional ads
Web Mobile
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Traditional Marketing
Most channels, saturated
The winner is usually the one with deeper pockets
All you can do is come up to par with the competition; youneed to leapfrog ahead of them
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Differentiate
Not only your product, but also your growth strategy
Find new, under-explored channels for user acquisition
Build growth/engagement loops into your product
Always aim for hockey-stick growth
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Growth Hacking
Product + Marketing + Analytics
Build
MarketMeasure
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AARRRC
Acquisition
Activation
Retention
Referral
Revenue
Churn
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Traditional Marketing Growth Hacking
Incremental - 10% Moonshot - 10X
Linear Growth Exponential Growth
Unrelated to the product Built into the product
Acquisition Acquisition + Retention
Saturated Under-explored
Increasing CPA at scale Decreasing CPA at scale
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Growth
Build virality into the product
Make the product more valuable for the user if theirfriends are on it
Incentivize users to invite their friends through in-apprewards which drive further engagement
Leverage existing networks/channels
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Engagement
Address a real pain-point
Make the product much better than the competition
Listen to users; improve what you have; offer whatyour competitors don’t
Form habits to boost product engagement
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What you need
Single user utility
The “aha” moment
A rapid viral loop
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Single User Utility
To retain a new user in a social system with networkeffects until he gets enough friends on board
Increases engagement & retention; reduces churn
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the “aha” moment
Leading indicator of whether a new user will turn intoan engaged user
Find your “aha” moment. Analyze existing engagedusers
Get new users to the “aha” moment as soon as you can
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the “aha” moment
Facebook: 7 friends in 10 days
Twitter: Follow 30 users
Zynga: Come back after 1 day
Dropbox: Upload 1 file
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Viral Loop
The viral loop - the steps a user goes through betweenjoining to inviting the next set of new users.
Once the user hits his “aha” moment, ensure zerofriction to the viral loop
Make it easy to invite and get their friends on board
Artificially accelerate the viral loop through referralrewards
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Registration
New User
“Aha” moment
Single UserUtility
Churn Retention
Referral
The ViralLoop
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Induced Virality
ExplosiveGrowth
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Hotmail
First to launch web-based email
Email footer: “Get your free email at Hotmail.com”
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PayPal
Referral scheme: $10 to referrers/new users
Leveraged eBay’s platform to drive adoption
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Dropbox
Referral program > virality > explosive growth
Social media referral program
Embed plugins > visibility > growth
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Youtube
Free video hosting
Embed videos > visibility > growth
Enable users to build an audience; attract content
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Airbnb
Tackled the marketplace chicken-and-egg problem; createdsupply/demand by spamming Craigslist
Targeted a niche on Craigslist, and made it 10X better
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hike - what we do
1. Focus on Growth & Engagement2. Build an amazing product to engage/retain users3. Early adopters; focus on users; act on feedback; improve4. Smart user acquisition5. Amplify referrals through rewards
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The best position a startup can be in:
Large networks of engaged users, differentiatedthrough user experience, and defensible through networkeffects. - Fred Wilson, USV
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Awesome Product+
Great Distribution
Rapid Growth+
Great Engagement
hike - what we’re aiming for
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2.0Sneak Preview
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31st March
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Links
http://www.quora.com/Growth-Hackers
http://www.quora.com/Viral-Growth-and-Analytics
http://techcrunch.com/2012/09/07/defining-a-growth-hacker-5-ways-growth-hackers-changed-marketing/
http://techcrunch.com/2012/10/20/defining-a-growth-hacker-growth-is-not-a-marketing-strategy/
http://andrewchen.co/2012/04/27/how-to-be-a-growth-hacker-an-airbnbcraigslist-case-study/
http://www.growhack.com/2012/12/04/discovering-your-aha-moment/
http://andrewchen.co/2007/07/11/whats-your-viral-loop-understanding-the-engine-of-adoption/
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@[email protected]@hikeapp