Recommended for those who have a business that must grow explosively
to those who have a rapidly scalable business, especially if digital.
What is viral marketing?
The truth is that virality and a process that is triggered when certain conditions arise and our task is to make sure that they occur.
Virality is also an intrinsic feature of the product, usually, the best viral products are those that work only if shared and are subject to network effects.
It all comes down to this little magical number called the viral coefficient. If the viral coefficient is greater than 1 then the product can be considered viral.
How is it calculated?
It all comes down to the following formula:
Numer of Invitations sent per User X Conversion Rate = Viral Coefficient
To calculate this we need two factors: the number of invitations sent per user on average and the average conversion rate of these invitations.
Suppose you have an app that’s usually shared with your own whatsapp groups, which are on average 12 people. And for each invitation, an average of 15% of recipients download the app.
The viral coefficient will be 12 x 0.15 = 1.8
This means that for every new user you acquire on average another 1.8, the app in question is viral.
This formula isn’t necessary tied to a product or service: we can measure virality also for content.
For example we can have a facebook post whose viral coefficient can be calculated by putting the numbers of invitations sent by user equals to the numbers of shares per user.
How to trigger virality
Creating viral content is not easy and many attempts may be necessary before a satisfactory result can be achieved.
What kInd of content to produce?
According to Professor Jonah Berger who has studied for 15 years what makes a piece of information contagious, there are 6 factors that drive a person to share content.
Jonah Berger’s S.T.E.P.P.S
1) Social Currency: People want to look smart and competent about a topic to their peers so they’re going to share what makes them look like such. That’s why quotes from Albert Einstein or other smart dudes get shared often.
2) Triggers: A topic that is on everyone’s lips will be a source of awareness and people will be pushed to talk about it more frequently. Riding the wave of recent news is always a good idea.
3)Emotions: Jonah has understood that only certain types of emotions cause diffusion. And they are strong emotions like wonder and anger, not the same for “weak” emotions like sadness or kindness. Strong emotions are the ones that drive physical reaction.
4) Public: Building a product made to be shown in public can be a winning strategy as it promotes itself, an example are the red soles of Louboutin shoes.
5)Practical Value: If a person receives value from a content is inclined to share it with his peers, so if this article was useful to you do not forget to share it 🙂
6)Stories: Stories are a fundamental part of the tradition of any people, we humans have always been accustomed to sharing information in this way before modern times.
Did you know that 7 of the 20 most shared articles on Buzzfeed are quizzes?
This type of content is now trending because it allows not only to involve the user interactively also allows you to understand many characteristics of your audience based on the answers that will provide.
You probably arrived here thanks to one of my quizzes 🚀
Pro-tip: You can ask to leave the email or a contact to receive the quiz result.
There are several platforms that allow you to quickly build online quizzes
one of my favorite is https://www.typeform.com/quizzes/
Running a contest can be a bit complicated at the beginning but it’s worth it in terms of involvement and acquisition of contacts at low cost.
It is important to define the rules at the beginning and determine your target audience.
Remember to launch a hashtag to promote your initiative
The types of contest can be different choose the one that best suits your brand.
The prize is the key to succeeding with a contest
Do you have a dropbox account?
This is the secret of its success and it is precisely in this channel of diffusion that it is re-established.
The idea was simple: invite your friends to sign up for dropboxes and receive additional space for free.
With this strategy Dropbox grew by 3900% and reached more than 100 million users.
To implement a referral program offer an intrinsic reward to your product for users who recommend it to others.
The rewards can be multiple: from good discounts or an extended free period of your service.
And of course you can scale up the rewards basing on the number of refferals a customer gives.
A University of Chicago study found that non-cash incentives are 24% more effective at boosting performance than cash incentives.
If you want an easy start creating a referral program you can use Referral Candy!
These were the main types of Viral marketing, I won’t cover them all in this article because it would become an encyclopedia.
If you are also interested in advice on other types of marketing channels, you can find them here:
Are you still undecided about which channels to use?
Are you in Lisbon?
I offer to my readers the possibility of an hour free consultation!