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 ...
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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
CONCERNS
MOTIVATIONS
- Wanttosolvemyproblem Recommendationfromafriend Education Data/informationreports Entertainment Freestuff Meetingotherpeoplelikeme thathaveinsightstoshare
CONCERNS
ENTICE&ADDRESSCONCERNS
- Customertestimonialsaddressvendorrisk Freetrialsaddressproductviability andfitconcerns Lowestpriceguarantees
Example:LivingSocial
Anotherstrategy
Offerareward bothtotheuserandtotheirfriend
Overcomesthefeelingofbeingsleazy
Canleadtomuchhighersuccessrates
LessonsLearned
Maximizethenumber ofinvitestheysendout
Leveragetoolsthatprovideeasyreachtotheirfriends:
Facebook:posttotheirNewsStream
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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