Viral Hook - What works:<br - SlideShare

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Viral Hook - What works:Something of Value:ApplicationsEducational contentDataThings of monetary value (Discounts and coupons)Something ... SlideShareusescookiestoimprovefunctionalityandperformance,andtoprovideyouwithrelevantadvertising.Ifyoucontinuebrowsingthesite,youagreetotheuseofcookiesonthiswebsite.SeeourUserAgreementandPrivacyPolicy. SlideShareusescookiestoimprovefunctionalityandperformance,andtoprovideyouwithrelevantadvertising.Ifyoucontinuebrowsingthesite,youagreetotheuseofcookiesonthiswebsite.SeeourPrivacyPolicyandUserAgreementfordetails. Upload Home Explore Login Signup Successfullyreportedthisslideshow. Activateyour30dayfreetrial tounlockunlimitedreading. ViralHook-Whatworks:
Lessons Learned
Explosivegrowth!
YouTube
Facebook
Zynga
Groupon
Twitter
GiltGroupe
Allhavesetrecordsforgrowthrates
ThekeyisVirality
ThePowerofViralMarketing
WhenitworksitisFree!!
Farmoreeffectivethanpaidpromotionsandadvertisingcampaigns
Ifdonewellcanbeself-sustaining+growth
Unfortunatelyrarelyachieved!
TheBestBusinessModel
Virally acquiredcustomersarefree
Monetization(LTV)
CostofCustomerAcquisition(CoCA)
Topics
TheSciencebehindViral Marketing
HowtodoViralMarketing
OptimizingforVirality
Makingthisworkforyourbusiness
Examples
Wheremyexperiencescomefrom
Tabblo
Photosharingsite
FoundedbyAntonioRodriguez,2005
AcquiredbyHPwithin18months
Greatinvestmentreturn
AllcreditisowedtoAntonioRodriguez
TheViralLoop
TheMathbehindVirality
Key variables:
Custs(0)Theinitialsetofcustomers
iThenumberofinvitessentout
conv%Thepercentageofinvitesthatconvertintocustomers
TheViralCoefficient
KThe ViralCoefficient
K=noofinvitesxTheconversion%(ixconv%)
Turnsouttobeaveryimportantvariable.Itequalsthenumberofnewcustomersthateachcustomerisabletosuccessfullyinvite.
AnExample
Custs(0)=5
i=10
conv%=20%
K=2
TheFormula
Newcustsadded inthiscycle=
NewcustsaddedinthepreviouscyclexK
Assumesthatcustomersonlysendoutinvitesonce,andnotcontinuouslyineverylatercycle
Tocalculatethenumberofcustomersatanyparticularcycle(c):
Custs(c)=Custs(c-1)+NewCusts(c)
SensitivitytoK
SeeSpreadsheet model
SensitivitytoK
Whatwelearned
ViralCoefficient mustbe>1
tohaveviralgrowth
ViralGrowthisacompoundingphenomenon
IncreasingtheViralCoefficienthasabigimpactontherateofgrowth
YouTubeversusTabblo
Bothstarted aroundthesametime
YouTube’sgrowthmassivelyoutstrippedTabblo
Whatwashappeninghere?
Tabblo’sViralLoop
Userdiscovered Tabblo
Waittilltheytakesomephotos
Upload
Share(i.e.inviteothers)
Someportionofthosethink,thisisgreat,Iwanttousethismyself
Waittilltheytakesomephotos
Upload
Etc.
YouTube’sViralLoop
Userdiscovers YouTube
Seessomehilariouslyfunnycontent
Decidestosharethatwithfriends
Friendsseehilariouslyfunnycontent
Decidetosharethatwiththeirfriends
Thetimetoinfectisfarshorter!
AMoreSophisticatedFormula
t =timect=cycletime
ThankstoStanReissforhelpwiththeforumula
Whatthistellsus
RaisedtothePowerof…
Multiplier
ShorteningthecycletimehasafarbiggereffectthanchangingViralcoefficient!
Someexperiments
SeeSpreadsheetmodel
SomeExperiments
Time-t
NowonderYouTubewasexplosive!
LessonLearned
ReducingViralLoop cycletimehasbyfarandawaythegreatesteffectonviralgrowth
HowtodoViralMarketing
TheBasics
Figureoutthe ViralHook
Whatmakespeoplewanttosharecontent?
ContentorProduct/Service
InitialSeeding
Usecommunicationsnetworkstospread
Email,Twitter,Facebook,Google+,etc.
Refresh&Re-seed
FigureouttheViralHook
Somethingverycompellingthattheuserwantstoshare
ViralHook-Whatworks:
SomethingofValue:
Applications
Educationalcontent
Data
Thingsofmonetaryvalue(Discountsandcoupons)
Somethingentertaining
Humor
Games
News
InherentlyViralServices
Email,Skype,etc.
Other?
Whydopeopleshare?
A paperonthathere:
http://marketing.wharton.upenn.edu/documents/research/Virality.pdf
http://www.nytimes.com/2010/02/09/science/09tier.html(summary)
Viralitydrivenbyphysiologicalarousal
Higharousal,Postive(awe)–mostlikelytobeshared
Higharousal,Negative(angeroranxiety)–lesslikely
Lowarousal,de-activating(sadness)–unlikely
ContentTypes
Blogs
Videos
eBooks
ApplicationsandServices
Etc.
Usingengineeringformarketing
InherentlyViralApplications
Themost viralappsarethosethatarerequiresharingtoworkproperly:
HotMail
Skype
YouTube
FaceBook
Etc.
InitialSeeding
Thebiggeryour initialseedingthebetter
IdentifyInfluencers
Reach/Influence
Klout,SocMetricsandotherservicesemergingtohelp
Developtherightrelationship
Listen,Strategize,Engage,Measure
PaidSeeding
Paidsearch,Virool.com,etc.
SpreadthroughCommunicationsNetworks
Early daysthiswasemail
SocialNetworkshaveturbo-chargedsharing
Whatyouwant:
Loweffortfortheuserdoingthesharing
RefreshingandRe-Seeding
GoogleSearch (paidandorganic)
Createsnewseeding
NewBlogposts
Causeyourexistingreaderstore-invite
Farmville,etc.
Continuetoinvitebyregularpoststoyourwall
LessonsLearnedOptimizingforVirality
LessonsLearned
Applymy“Unblock yourSalesFunnel”principlestotheviralloopsteps
GETINSIDEYOUR
CUSTOMER’S HEAD
CONCERNS

  • Hatebeingsoldto Finditoffensivetogive nameandemail Don’twanttogetspam salesemails Worriedthatemailaddresswill begiventoothermarketers
  • UNDERSTANDWHATMOTIVATESTHEM
    CONCERNS
    MOTIVATIONS
    • Wanttosolvemyproblem Recommendationfromafriend Education Data/informationreports Entertainment Freestuff Meetingotherpeoplelikeme thathaveinsightstoshare
  • CREATEASOLUTIONTHATENTICESTHEMANDADDRESSTHEIRCONCERNS
    CONCERNS
    ENTICE&ADDRESSCONCERNS
    • Customertestimonialsaddressvendorrisk Freetrialsaddressproductviability andfitconcerns Lowestpriceguarantees
  • Example:Groupon
    Example:LivingSocial
    Anotherstrategy
    Offerareward bothtotheuserandtotheirfriend
    Overcomesthefeelingofbeingsleazy
    Canleadtomuchhighersuccessrates
    LessonsLearned
    Maximizethenumber ofinvitestheysendout
    Leveragetoolsthatprovideeasyreachtotheirfriends:
    Twitter
    Facebook:posttotheirNewsStream
    LinkedIn
    Automateaccesstotheiraddressbook
    WorkswellforGMail,andotheron-lineaddressbooks
    Etc.
    LessonsLearned
    Lookforways toautomatethewholeinvitationprocess
    Nothinkingrequired
    Noworkrequired
    Don’tjustinviteonce
    Look forwaystokeeprepeatinginvites
    E.g.FacebookgameslikeFarmvillethatposttoyourNewsStream
    LessonsLearned
    Lookforother waystogetyourcustomerstotelltheirfriendsaboutyou
    Example:ConstantContact’semailsignature
    ReducetheCycleTime
    LessonsLearned
    HybridViral
    Even ifyoucan’tgetaviralcoefficient>1youcanstillenhancecustomeracquisitionwithsomevirality
    LessonsLearned
    TheViralLoop isanimportantFunnel
    Designeachstepcarefully
    Simplifyandeliminatemanualsteps
    Testforadequatemotivationsandincentives
    Addressconcerns
    A/Btesteachstep
    Metricstoevaluateandimprove
    Makeitworkforyour Business
    Creepy
    Effective
    Whatcangowrong?- Branchout
    Socialnetworksareforhangingoutwithfriends
    Notpromotingyourbusiness
    Branchout(recruitingapponFacebook)
    Spammeduserswallswithwaytoomanyentries
    TheResult:
    Thankstopaulamarttila.posterous.com
    SomeFunExamples
    Fora fullset,visit:
    http://www.ignitesocialmedia.com/social-media-examples/viral-marketing-examples/
    ForMoreinformation
    Visitmy blogatwww.forEntrepreneurs.com
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