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Building a Viral Marketing Funnel: How to 10x Your Number of Leads for Free

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Revenue Summit 2018 San Francisco

Building a Viral Marketing Funnel: How to 10x Your Number of Leads for Free

Speakers:
Olof Mathé - Co-founder & CEO, Mixmax

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Published in: Sales
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Building a Viral Marketing Funnel: How to 10x Your Number of Leads for Free

  1. 1. Olof Mathé – CEO & Co-founder – Mixmax. BUILDING A VIRAL MARKETING FUNNEL: HOW TO 10X YOUR NUMBER OF LEADS FOR FREE
  2. 2. Revenue Summit 2018 KEYNOTE SESSION CEO & Co-founder – Mixmax. @olofster OLOF MATHÉ KS
  3. 3. BUILDING A VIRAL MARKETING FUNNEL: HOW TO 10X YOUR NUMBER OF LEADS FOR FREE
  4. 4. KEY TAKE-AWAYS TO 10X YOUR NUMBER OF LEADS You’ll learn about: 1. The 5 kinds of virality 2. What works and what doesn’t 3. Not all virality is created equal 4. Design principles to 10x number of leads for free
  5. 5. BAD NEWS The only way to 10x your number of leads for free is to create a viral product
  6. 6. GOOD NEWS There are several different kinds of virality
  7. 7. THE 5 KINDS OF VIRALITY 1. Network effects 2. Value virality 3. Exposure virality 4. Referrals & Invites 5. Word of Mouth (aka Brand)
  8. 8. NETWORK VIRALITY
  9. 9. Your users work to get other users on your product, because it makes the product better for them
  10. 10. X-COMPANY VS. INTRA-COMPANY
  11. 11. VALUE VIRALITY
  12. 12. Your customers provide value to other people and make their lives easier, simply by using your product
  13. 13. Value virality
  14. 14. Value virality
  15. 15. EXPOSURE VIRALITY
  16. 16. Your customers show off your product, (because it makes them look good).
  17. 17. EXAMPLES OF EXPOSURE VIRALITY Revenue Summit 2018 What’s that penthouse you’re staying in? How did you take that amazing picture? “Sent from my iPhone”
  18. 18. NOTES ON EXPOSURE VIRALITY 1. It’s not about value (to the recipient) 2. It’s about social proof (status) 3. It needs to be spectacular to be effective
  19. 19. INVITES & REFERRALS
  20. 20. Your customers get rewarded by you for sharing your product
  21. 21. Invites & Referrals
  22. 22. Invites & Referrals
  23. 23. WORD OF MOUTH / BRAND
  24. 24. Word of Mouth / Brand
  25. 25. Poor person’s word of mouth: Content Marketing
  26. 26. RECAP, THE 5 KINDS OF VIRALITY 1. Network effects 2. Value virality 3. Exposure virality 4. Referrals & Invites 5. Word of Mouth (aka Brand)
  27. 27. WHAT WORKED AND WHAT DIDN’T
  28. 28. <1% OF LEADS Network virality
  29. 29. 1-2% OF LEADS Exposure virality
  30. 30. New user growth attributable to signature ≈ Immediate user churn on sign up
  31. 31. REASONS TO KEEP THE SIGNATURE 1. Number of signature clicks ≠ number of impressions 2. Signature provides social proof 3. Users that churn immediately likely aren’t target audience
  32. 32. 12% OF LEADS Referrals
  33. 33. NOTES ON REFERRALS 1. Works if your product has broad appeal 2. Do it early in customer lifecycle 3. Replace NPS with actual referrals
  34. 34. 14% OF LEADS Value virality
  35. 35. 44% OF LEADS Word of mouth (aka Brand)
  36. 36. SHARE OF LEADS Revenue Summit 2018 Word of Mouth 44% Value virality 14% Referrals 12% Exposure virality 2% Chrome Store 21% Other 7%
  37. 37. NOT ALL VIRALITY IS CREATED EQUAL
  38. 38. CONVERSION RATE TO PAID Revenue Summit 2018 0% 2% 4% 6% 8% 10% Word of Mouth / Brand Value virality Referrals / Invites Exposure virality Chrome Store Network virality
  39. 39. DESIGN PRINCIPLES TO 10X YOUR NUMBER OF LEADS FOR FREE
  40. 40. RECEIVED WISDOM • Spend to grow • Charge a lot • Build a platform
  41. 41. WHAT IF IT’S ACTUALLY • Spend to grow Instill a culture of frugality • Charge a lot Don’t get pricing right • Build a platform Enhance an existing workflow
  42. 42. Most startups after funding
  43. 43. CREATIVITY BREEDS FREE LEADS Revenue Summit 2018
  44. 44. RECEIVED WISDOM ON PRICING You think you want: 1. High prices 2. Annual plans 3. Multiple plans
  45. 45. GET PRICE WRONG, THE RIGHT WAY What if you actually want: 1. Low prices 2. Monthly plan only 3. Single plan!
  46. 46. CHANGE BEHAVIORS ENHANCE EXISTING WORKFLOWS
  47. 47. EXTEND AN EXISTING PLATFORM Revenue Summit 2018
  48. 48. RECAP Revenue Summit 2018 1.There are 5 kinds of virality 2.Use them to create viral funnels 3.Bear in mind that not all of them will work, and not all of them are created equal
  49. 49. Revenue Summit 2018 THANK YOU SALES HACKER REVENUE SUMMIT 2018. CEO & Co-founder – Mixmax. @olofster OLOF MATHÉ

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