Growth hacking 101

 Photo: Rathish Gandhi

Photo: Rathish Gandhi

Going viral looks like a chance, coincidence, or a complete accident. But it isn't.

In reality, while viral marketing holds massive appeal for companies, it's not as easy as simply posting a video online. Only certain products and services will ever go viral, and the value of the product/service must be desirable for all of those who potentially come in contact with it.

For growth hackers, the first dilemma is deciding on whether or not a product or service is worth sharing or talking about. If the product is valuable or "sticky," it will be worth mentioning and the potential for current customers to spread the word is higher. The easy math involves A23 Advisors calculating your invitation/share rates and funnel metrics to derive your viral coefficient. If it's above 1, you have a chance.

Going viral is not something that happens out of thin air. The reason certain products spread faster than others are because they 1) make life easier, 2) make life interesting, 3) make us more profitable or 4) are simply better than the competition (which means better user experience or better value for money).

In order for virality to work, customers, potential customers, trend-setters and micro-influencers must find a product that is worth taking the social media time to mention or post. If your product isn't there yet, all is not lost. Call us. Let's revisit the product roadmap, organize your development iterations and related investment to achieve material goals faster, then go for it.

by Serenity Thompson