Leverage Your Content to Power Growth
Employing viral growth loops in your marketing strategy can have significant and positive effects on advertising, sales, brand awareness, content promotion, and online reputation. Used effectively, viral loops can explode your growth funnel.
The first step in creating a viral loop is designing an online campaign that appeals to your target audience emotionally. The next step is creating content that showcases the product/service or brand, with visuals and text that will make people want to share it online. The final stage involves not only generating more shares but also getting feedback from those who shared it.
In this article, I look at a few of the most highly effective viral loop examples.
The two common types of viral loops
There are many variations of the viral loop, but they mostly fall into two types:
Intended-action loops have an interactive component – for example, to create content – and a call to action for the user to share what they have created. One example of this type is the quizzes and tests that are commonly shared on Facebook.
Incentive-driven loops offer the user an incentive to share the content. You can also offer the recipient their share as an incentive. Typically, the incentive will be a discount on a product or service. An example of this type of loop is Uber’s viral promotions.
There is huge scope to develop a variety of incentive-driven loops. We’ve already mentioned Uber’s viral loop marketing, which could be described as a savings-driven loop. You might offer a discount coupon or code.
In a goal-driven loop, the user is incentivized to share with receivers so that they attain the same goal. Ecommerce voucher companies use this type of loop a lot. They may offer a two-for-one deal on a voucher for a product. If you know someone who would be interested, you provide their email address and they receive the voucher, too.
A value-driven viral loop is also known as a two-sided loop, because of the way it works. Both the sharer and the recipient are rewarded equally. Meal delivery services like Fresh n’ Lean use this type of loop extensively – you give the recipient $30 off their first order, and you receive a $30 discount off your next order.
A social value loop incentivizes the sharer by promising to make a donation to a charitable cause, and where the user is incentivized to share the opportunity with others.
Why aren’t you using viral loops?
Viral loops not only increase customer engagement but also improve conversions as well as sales rates. Data shows that B2B businesses with referral programs have:
- 69% faster closing times on sales
- 70% higher conversion rates than those that don’t
Those are compelling numbers. But then I guess you could have figured this out yourself – I suspect that you have taken an online quiz and shared your results, or shared a discount coupon, or shared a two-for-one offer, or… the list of possibilities is endless.
Now you’re sold on viral loops, it’s important that you understand how to use them properly and create something that will get peoples’ attention. Content that will engage and influence the action you want the reader to take.
To learn how to make viral loops the big advantage in your growth funnel, contact BlabberJax today.