A viral strategy aligns with digital transformation initiatives by leveraging technology to enhance the reach and impact of marketing efforts. It involves creating content or campaigns that are highly shareable and can spread quickly on digital platforms, thus increasing visibility and engagement. This strategy can help in scaling the product, attracting more customers, and reducing the cost of acquisition. It also allows for data-driven decision making, as the performance of different features or campaigns can be tested and compared, enabling continuous improvement and innovation.

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Viral Strategies

How do some companies seem to grow exponentially? Viral strategies. Use our Viral Strategies template to incorporate a high growth mindset to scale yo...

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This slide breaks out the different global and regional conversion rates of your overall viral strategy. Let's say you want to increase your conversion rate in a specific region. You can compare the effect of a new feature on a conversion rate to the baseline rate with this slide. If the new feature drives the new rate lower than the baseline, it will do more harm than good. This slide can also be used to AB test two different features and determine which brings in higher conversion. In that scenario, add a line for an A and B line. Test both features in two test groups, then use the feature with the higher rate for a wider rollout. (Slide 17)

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The concept of viral coefficient, cycle time, and branching rate can be used to find growth opportunities in several ways. The viral coefficient measures how many new users an existing user can bring to your product or service. A higher viral coefficient means more organic growth. The cycle time is the period it takes for a user to invite others. Shorter cycle times can lead to faster growth. The branching factor, or rate, refers to the number of people that one person can effectively invite. By optimizing these three factors, you can significantly improve your product's growth rate.

A company like Uber could greatly benefit from implementing viral strategies. Uber's business model relies heavily on its user base for growth. By implementing a viral strategy such as a referral program, where existing users are incentivized to invite new users to the platform, Uber could potentially increase its user base exponentially. This would not only bring in more customers but also reduce the cost of acquisition.

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