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Ways to build your first viral loop. (2/3)🤯🤯

K factors help in measuring the virality of a product. In simple words, it is the total number of newly activated users generated by previous users
In the previous post, we looked at the K-factor virality in broadway, now let’s deep dive into how to improve the number of invites sent.
K = i x c
where K is ‘K-Factor’, i is ‘number of invites sent per user’ and c is ‘average invite conversion rate’.
if the k factor is more the 1, it is considered good, and if that’s the case then it means
How do you improve ‘i’?
By making it easy to share-
Simplicity is the key to everything. UX has to be simple so that it becomes for users to share your product.
The best example of this is the Evernote referral system where users used to get awards points to the customers each time they make referrals.
Such points may be redeemed for free access to the premium features of the software plus customers who submitted referrals will use them to get extra points. This motivated the users to encourage their peers to upgrade.
Incentivize people to share
Behavior is influenced by incentives. Your users will be encouraged to make a referral if you use the proper referral incentives. Now it can be done in two ways
  • Cash- Many companies like Uber provides users cash coupons on their ride to encourage users to share.
  • Kind- Dropbox rewarded people with more free space not only for referring to their friends but also for accepting an invitation.
Make it cool such that people want to share-
People share what they like on the internet with their friends. The most natural way to encourage them to share is to make relatable content.
  • Funny content - Dollar shaving club used referral marketing in the form of a marketing video to launch their business. Dollar Shave Club created an honest and cheeky video that ended up with 16 million views.
  • Early adopter content - Lily drone launched a video in 2015, which amassed millions of views, was one such example. The video showcased how easy it would be to use the Lily drone to capture any outdoor activity on video which helped them get viral.
  • Content that makes them look cool - GoPro, which is released multiple videos every day after stumbling on a technique that leads to thousands of hours of free publicity a week. They even involved its fans in content curation, GoPro has built a loyal and engaged audience
  • Social issues - Dodo is an ultimate incubator’ for a viral video and makes videos around animal-related content — everything from cute viral videos to heartwarming rescue stories which touched users and they end up sharing it.
The only way to get "Viral" (1/3) | Revue
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Gaurav Agarwal

I share quick insights on growth and startups acquired after building two 9 figure revenue businesses and advising half a dozen startups.
Everything about growth 📈.

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