Archives for June 2018

June 19, 2018 - No Comments!

From Visitor to Ambassador: The art of referral marketing

A few months ago we decided to give a try to Messenger chatbots. The plan was to craft an exclusive playbook for our subscribers and publish one chapter each week.

We named it “From Visitor to Ambassador: The art of Referral Marketing

It’s a playbook that includes all the means one can use to turn their website visitors into brand ambassadors for their product or service.

The topics we cover are:

???? What an Ambassador Referral Campaign is and how it works.

You might have heard how Harry’s gathered 100,000 emails in one week before they launched. They used an ambassador referral campaign to achieve it and we show exactly how you can do it as well.

???? How to turn your Visitors into Ambassadors

This is the value proposition of the playbook. You will get a deep understanding of what it takes to succeed, and how to remove all the obstacles in the way.

⚙️ Building Viral Landing Pages

Landing pages are all about conversion rates, and we have the best recipe to create pages that convert like crazy; exactly the stuff you need for your ambassador referral campaign.

???? Choosing the best rewards for your ambassadors.

It’s another thing to bribe people to talk about you, and a totally different thing to reward them for doing so. Inside the playbook, we are talking about how you can avoid falling into the trap of bribing people, and how you can choose rewards that express your real gratitude.

???? Boosting your campaign’s performance.

Just launching an ambassador referral campaign/ program doesn’t mean that there’s an autopilot. You might need to iterate in order to achieve pure greatness.

We see ourselves as iteration maniacs, and after reading this playbook you’ll become one too.

???? Technical growth hacks that can save the day.

We give you some clever ways to use apps out there in order to blow people's minds away. These are testing and proven to work, so we explain how to do it yourself in minutes.

Our Messenger bot worked pretty well and managed to gather a few thousands of subscribers very quickly. But this is not the reason I’m writing these lines.

As we started adding chapter after chapter, we soon realized that the content we created deserves something better than just existing in a document on the cloud.

So, we decided to make it an actual book.

The playbook is live on Product Hunt, and we used its “Upcoming” feature to gather as many people as possible, prior to the actual launch.

We also used the growth hack that Josh Fechter shared a few days ago: we uploaded a portion of our email list on the “Upcoming” for social proof—as we got more than 16,000 people are in the campaign ????

R U ready to Turn Visitors To Ambassadors?

We're really proud of the outcome. We could sell it, instead of giving it for free.

Download your free copy now! 

We ???? you!

[ninja_form id=9]

June 12, 2018 - No Comments!

How Robinhood’s referral program brought 1 million users before launch

It’s a tale as old as time.

How Robinhood Got Nearly 1 Million Users Before the Company Even Existed

No, not that one.

This one:

  1. You get an idea for a revolutionary product or service.
  2. You launch the next big thing on your website.
  3. You invite your family, friends—perhaps even your LinkedIn network —to download your app or buy from your store.
  4. Despite your efforts, your launch ends up being less “big thing” and more small potatoes.

 

Commission-free stock-trading app Robinhood managed to rewrite this classic narrative with an enviable and explosive go-to-market. 

In the year prior to launch, Robinhood built a waiting list amounting to nearly…one…million…

How Robinhood Got Nearly 1 Million Users Before the Company Even Existed

...users.

That’s one million users before the company even existed.

Sound nuts?- I’d say so.

Gaining one million potential users during prelaunch is perhaps a lofty target for a small startup. But you can certainly expand your prelaunch reach—and your waiting list—by imitating some of Robinhood’s techniques.

Just like Robinhood stole from the rich and gave to the poor, we’re stealing/ borrowing from Robinhood's referral program tactics and giving to you.

Compel Immediate Action

FOMOFear Of Missing Out.

It’s a powerful force.

So powerful, in fact, that simply making potential customers feel like they might be missing out on something can often move them to action.

56% of surveyed adults admit that FOMO impacts their media usage habits, for example, compelling them to look at social media again and again.

Marketers can harness FOMO by creating an impression of exclusivity through the use of waitlists, limited supply, and time limits.

And that’s exactly what Robinhood's referral did.

As a part of their pre-launch strategy, the Robinhood team invited potential app lovers to gain invitation-only, early access to its private beta.

Instead of inviting potential Robinhood users to join a mailing list, the company appealed to its interested fans’ desire to be the first to benefit from what Robinhood had to offer.

And this offer was so enticing, that it got the attention of Hacker News, which was “Every engineer's dream in the Valley," according to co-founder Vlad Tenev.

Keep the Process Simple

So how did Robinhood draw in the first eager-to-gain-early-access few?

Robinhood kept the sign-up process short, sweet, and simple.

When a person arrived on the early-access landing page, only one task stood between them and the chance to be the first to use the Robinhood app: entering their email address.

Let’s face it: people aren’t that great at paying attention—not for long periods of time, anyway.

In fact, our attention span is only about 8 seconds.  That’s shorter than the attention span of a goldfish.

The brainpower behind building Robinhood’s waiting list knew this fact and designed a sign-up page so straightforward that it could be completed before any person (or fish, for that matter) could lose interest.

How Robinhood Got Nearly 1 Million Users Before the Company Even Existed

The page was simple to use. Not full of jargon or length copy, just one powerful hook—”Robinhood $0 commission stock trading. Stop paying up to $10 per trade.”

Giving users only one option; To opt-in.

Get People to Share and Re-engage

Gaining access was simple.

And like many other pre-launches, the first few sign-ups were acquired from family, friends, and as a result of press mentions.

But how did Robinhood (with their referral program) turn those first few to thousands, hundreds of thousands and then nearly a million?

Gamification.

People. Love. Playing. Games.

Especially when those games are tied to rewards they actually want.

Robinhood created a referral-based viral loop that looked something like this:

  1. When users signed up for Robinhood, they were put on the waiting list. The higher on a person’s position on the list, the earlier the Robinhood fan got access to the beta.
  2. After entering an email address, the “thank you page” allowed individuals to see is their position on the waiting list.

Conveniently located under their waiting list placement? A reward-based invitation to share Robinhood’s exclusive offer with others in just one click. The more a person shared, the higher the waiting-list position. The higher the position, the sooner one would gain access to Robinhood. And who doesn’t want to jump ahead in the queue?

And that’s what led to exponential growth.

How Robinhood Got Nearly 1 Million Users Before the Company Even Existed

Bonus: Embrace What Makes You Different

All of these tips and tricks got Robinhood part of the way. But people flocked to Robinhood because they saw something different. Meaningful. Useful.

Robinhood's referral program wanted to make things easier for people.

And people love easy.

When describing the function of Robinhood, co-founder Vladimir Tenev said they built it aiming to “[make] trading as frictionless as possible.”

In the end, the app's team built their waiting list using a similar tactic. By providing a frictionless portal for customer sign-up and giving potential customers lots of reasons to become actual customers, Robinhood moved beyond a humdrum launch and accomplished something truly spectacular.

So, do you want to create a pre-launch campaign similar to Robinhood's referral program?

This template is inspired by Robinhood's referral program. People can join your waitlist, just by putting in their info. Then, the more friends they invite, the higher they climb up the list.

It's that simple!

How Robinhood Got Nearly 1 Million Users Before the Company Even Existed

In case you’re interested to build a pre-launch like Robinhood's referral, we have your back! Save yourself some time.

Cheers

Note: Puggy recently started spreading her knowledge on Referral Marketing, so ???? Push the "Send to Messenger" button below to grab her exclusive content ????

June 5, 2018 - 4 comments

Virality and the 4 Steps To Design It In Your Product

 

One of the most promising acquisition channels startups explore - or at least should explore - is virality.

But what does virality mean?

Virality: vʌɪˈralɪti/

noun
the tendency of an image, video, or piece of information to be circulated rapidly and widely from one Internet user to another; the quality or fact of being viral.

Due to the explosion of digital marketing, marketers around the globe started using a new technique that allowed them to implement virality to products or services. Viral Marketing got born.

Viral marketing is scalable. Even if you’re an early stage company, it can help you get high-quality customers with low acquisition costs.

The difficult part you need to figure out, however, is how you can make your customers become your marketers. How one user brings others in.

A lot of people believe that virality happens either by luck or magic. Others think that all you need is a crazy video.

But this is not the case. PPAP (Pen Pineapple Apple Pen) is not what you’re looking for, and won’t get your business too far.

Viral marketing should be the heart of your product.

Virality is a business design problem, not a marketing or engineering effort . — Andrew Chen

Virality Vs. Word Of Mouth

First things first. Virality is not Word Of Mouth. They are closely related and one reinforces the other. But they’re not the same.

Word Of Mouth (WoM) happens when people love so much a product that they can’t stop talking about it. 

There are several ways of making people talk about your business. From offering them a great product and experience to giving them awesome support or asking them to pay $100 for a cheesesteak.

A few weeks ago, Typeform faced a minor issue and two of our forms, including Build Viral Loops in Public did not gather two submissions. We didn’t realize it before they told us so. And they went beyond that. They refunded our subscription for the last month. Wow! ✌️

When they notified us about it (I didn’t even expect that), they also included the exact reason of the issue as stated by their CTO.

Email from Typeform

At that moment, I realized that these guys are truly honest. And their customer support is great.

I immediately forwarded this email to my colleagues mentioning how cool that was and that we should do the same in any similar situation. — online WoM

I keep mentioning this incident in workshops and seminars. — offline WoM

 I also write about it right now, too. — online WoM

Their immediate action of letting us know about the issue without even noticing it, as well as their transparency, made us love Typeform even more. Not just because it is a great product, but also because their team treated us so special.

Typeform, we ❤ you guys! ????

Virality, on the other hand, happens when people spread the word about a product or service in the context of using it. 

When I invite someone to talk over Skype, it doesn’t mean I love it. But if I don’t have someone on Skype, I won’t be able to use it at all.

When virality is inherent to a product, the existing users gain value out of taking an action which, in turn, exposes the underlying platform to new users.

So, how can you design your product for viral growth?

Let me show you how we designed and engineered it into our own product.

Understanding what type of viral marketing fits to our product

Viral Loops is an all-in-one viral and referral marketing platform helping startups, professional bloggers and eCommerce stores acquire more customers and increase their revenues through referral programs, giveaways, sweepstakes and prelaunch campaigns.

The first thing we did was to understand the type of virality that could help our product grow while taking into account that we’re a B2B SaaS platform and not Snapchat.

I really like the way Philip La puts it. He categorizes product virality in two main types:

Pull Product Virality (PPV): Product virality where existing users require people in their network to join to gain value out of a feature.

Think of Dropbox, Slack and Facebook. You need to have your friends or colleagues in there, else you just can’t use it.

Distribution Product Virality (DPV): Product virality where existing users spread awareness of a product to their network.

Instagram has leveraged DPV extremely well. The time people post their photos on Instagram, they also share them on Facebook because of social currency.

Josh Elman also explains the different types of virality in one of his latest articles, at Greylock Perspectives.

In our case, we chose to start with DPV, as a marketer or blogger can use our platform without needing to have others in the same network.

How to design your product for viral growth

From the very first time, we knew that virality would be one of our main traction channels. Not only because it is a great channel, but also because if we can’t make it work for our own company, how will our customers?

Our design process was based on the four questions Sangeet Paul Choudarymentions in his book “Platform Scale: How an emerging business model helps startups build large empires with minimum investment.

1. Why will the sender send units out of the platform?

This is about finding the right sender incentives.

Our customers use our product to run their campaigns. So, inevitably they want to spread the word about their campaigns as much as they can. This way, they also spread the word about us.

This behavior is similar to when someone creates a Kickstarter campaign. When (s)he promotes his campaign, (s)he also promotes Kickstarter because this is the platform the campaign runs on.

Developer Economics’ Campaign

2. What is the minimum transferable unit on the platform that can move on an external network?

At this point, we needed to come up with our spreadable unit.

We took advantage of the classic marketing tactic “Powered by.” This is used by a lot of platforms out there, including Intercom, Eventbrite, and many others.

Waiting List of Ellp’s Campaign

Our spreadable units are our widgets and emails. We chose the “with ❤ by Viral Loops.” So, we use this badge everywhere. This brings more eyeballs to Viral Loops.

It also made us change our roadmap and come up with more widgets that will help our customers acquire more participants for their campaigns while increasing the virality of our product.

For example, we built a public embeddable leaderboard so our customers can put it on their main website in order to show off their advocates and engage them more.

3. Where will the unit of the platform meet non-users?

And now our external network.

Our customers share their campaign through several distribution channels they use for their marketing activities. So, by sharing the campaign, they share Viral Loops, too.

Viral Loops’ Referral Dashboard

On top of that, the participants of the campaigns (the customers of our customers) invite their friends through the sharing options we offer, including Facebook, Messenger, Twitter, Email, and others.

4. Why will a non-user on an external network convert to a user on the platform?

For the last question, we needed to think of the recipient incentives.

This was a bit tricky for us, as we cannot control who participates in the campaigns of our customers. So, we decided to focus on two things that can affect it:

  • Build features so our customers can acquire more users and run very successful campaigns.
  • Provide a stellar experience for the participants of the campaign through our widgets and the whole campaign setup.

This way if one of our target customers participates in a campaign of our users (e.g. a marketer or startup founder) and the experience is unique, then he will be curious to see how this campaign is built. And then, our tiny “ with ❤ by Viral Loops” will lead him to us!

If you believe viral marketing could work for your business, this is the easiest way to design your viral loops and start experimenting. As with every marketing campaign, there are 5 must-watch metrics for your Viral Marketing Campaign:

  1. The Viral Coefficient (K-Factor).
  2. The Participant Conversion Rate.
  3. The Participant Share Rate.
  4. The Invitation Click Through Rate.
  5. The Invitation Conversion Rate.

Have you followed another process? I’d love to hear about it. ????

Note: Puggy recently started spreading her knowledge on Referral Marketing, so ???? Push the "Send to Messenger" button below to grab her exclusive content ????