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How To Build Your Product For Viral Growth.

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Virality, Network Effects and Word Of Mouth. This is how you can embed them in your own product or service.

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How To Build Your Product For Viral Growth.

  1. 1. How To Build Your Product For Viral Growth . Thoughts and actionable tips on virality and word of mouth. 4 5 6 8 9
  2. 2. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis The last 2 months our customers gathered more than 100,000leads and 60,000referrals. 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:
  3. 3. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Why Virality & Word Of Mouth ? Because it’s a killer marketing channel. 6
  4. 4. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Word of mouth is the primary factor behind 20% to 50% of all purchasing decisions .
  5. 5. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Word of mouth is 10x more effective than traditional advertising .
  6. 6. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis By increasing virality, you decrease your CPA .
  7. 7. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Instagram’s Viral Growth . How Instagram orchestrated virality. 6
  8. 8. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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.
  9. 9. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Converted Its Users Into Marketers . Every time users used the app, they shared their creations externally.
  10. 10. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Word Of Mouth Is About WOWing Your Customers . What WOM is, and what is not. 6
  11. 11. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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
  12. 12. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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
  13. 13. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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
  14. 14. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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.
  15. 15. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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.
  16. 16. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Virality Is Not WOM . What Virality is, and what is not. 6
  17. 17. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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
  18. 18. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Kickstarter Leverages Its Projects For Going Viral . When a Kickstarter creator spreads the word about his project, he helps Kickstarter reach higher user adoption.
  19. 19. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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.
  20. 20. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Network Effects & Virality Are Not The Same Thing . Both lead to growth and scale, but they’re not the same thing. 6
  21. 21. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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.
  22. 22. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis LinkedIn Has Network Effects By Design . In order someone to connect with you in LinkedIn, he has to be in LinkedIn, too.
  23. 23. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Virality is a business design problem, not a marketing or engineering effort .
  24. 24. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis How To Design & Build Your Viral Growth ? Let me show you how we apply this approach in Viral Loops. 6
  25. 25. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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.
  26. 26. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Why will the sender send units out of the platform ? #SenderIncentives
  27. 27. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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.
  28. 28. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis What is the minimum transferable unit on the platform that can move on an external network ? #SpreadableUnit
  29. 29. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Viral Loops’ Minimum Transferable Units . • ViralWidget Pop-up • Emails • Leaderboard • Widgets
  30. 30. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Where will the unit of the platform meet non-users ? #ExternalNetwork
  31. 31. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis We deeply believe in Facebook and Messenger . It also depends from our campaign creators. But we can drive this behaviour.
  32. 32. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Examples On Successful External Network Exploitation . • Paypal —> eBay • Airbnb —> Graiglist • Zynga —> Facebook • WhatsApp —> Phonebook
  33. 33. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Why will a non-user on an external network convert to a user on the platform ? #RecipientIncentives
  34. 34. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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.
  35. 35. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis The 2 Types Of Virality . You can leverage both for your mobile app. 6
  36. 36. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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
  37. 37. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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
  38. 38. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Airbnb’s Viral Loop . How Airbnb increased bookings with a kick-ass referral program. 6
  39. 39. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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.
  40. 40. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Cross-Platform . They launched their referral program in all platforms. Not so many companies do it for some reason.
  41. 41. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Optimization . They A/B tested several parts of the program, including message psychology. Hooray, A/B Testing :)
  42. 42. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Personalization . They use deep linking to personalize the invitation experience.
  43. 43. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis The Result . Airbnb increased overall bookings by 25% in some markets, and signups and bookings from the program itself by 300%.
  44. 44. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Viral Marketing & WOM Channels . How to get your mobile app go viral. 6
  45. 45. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis
  46. 46. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Image source: Sean Ellis
  47. 47. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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.
  48. 48. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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
  49. 49. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Build your own chat bots . Messenger Platform msg.ai wit.ai
  50. 50. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis How To Measure Virality . If you can’t measure it, you can’t improve it. 6
  51. 51. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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.
  52. 52. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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
  53. 53. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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.
  54. 54. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis 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)
  55. 55. Unlock Your Viral Growth viral-loops.com Made with by @SavvasZortikis Savvas Zortikis CEO at Viral Loops savvas@viral-loops.com @SavvasZortikis Thank you! Do you have any questions? We’d be more than happy to get in touch! :)

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