Archives for October 2018

October 30, 2018 - No Comments!

How Infinity gained 2,5K+ early adopters with Viral Loops

In March 2018, an innovative and fresh SaaS startup named Infinity was in the final stages of developing an MVP of their ‘infinitely’ flexible and user-friendly project management and collaboration tool.

This tool threatened to be an alternative and true competition to some of the biggest project management software solutions on the market (they even had the guts to compare their product to the popular Trello).

Inspired by RobinHood’s pre-launch campaign, they decided to do exactly the same: create a waitlist for their MVP and publish a Closed Beta for the selected number of early members.

But, guess what?

Infinity team decided to be bold and gather a lot more early testers than they had initially planned. Actually, they were about to launch a marketing campaign to get as many early members as possible.

Yup, pretty ambitious. It seems like they really believed in the MVP of their product.

So, let’s see their approach to launching a strategy which resulted in 2,500+ users in less than a month.

The Game Plan

After days of detailed research and multiple hours spent on defining the strategy for gaining as many early members as possible, they’ve come up with a pretty neat solution.

Infinity team decided to launch a referral campaign. The final thing they needed was an appropriate tool which would help them set up their viral campaign.

As Viral Loops offered an easy-to-use and practical pre-launch template, the search ended there.

Infinity decided to use Viral Loops as a tool to launch their referral/viral campaign.

There are few points which should be covered if you’re about to launch a successful referral (viral) campaign:

  • Landing page
  • Good incentive
  • Define referral placements for your campaign(Make sure to carefully choose the initial places on which your members could share the referral link.
    If your fans are active on platforms such as Facebook or Twitter, make sure to include those as a starting place where your referral link could be promoted.)
  • Promotion channels (often considered as paid promotion, such as Facebook Ads, Beta List, etc.)
  • Analytics/metrics tracking

Building a viral landing page

Before setting up a referral campaign in Viral-Loops, Infinity team had to create a solid landing page for their product.

Making a viral landing page is not an easy thing to do. You have to invest a lot of time in order to prepare good content, a visually appealing design, and even an explanatory video. And that’s exactly what Infinity did.

Infinity pre-launch landing page
Infinity landing page used for the Viral-Loops referral campaign.

Infinity signup form

Infinity's pre-launch signup form

Infinity's pre-launch sharing widget

Infinity's pre-launch sharing widget

Incentive: Do You Have Enough Courage to Offer ‘The Real Thing?’

After building a landing page, it was time to brainstorm on a proper, engaging and effective incentive for the competition participants.

If you’re about to launch a referral campaign, you definitely need to create a convincing and inspiring motive for people to enter the competition.

Thus, Infinity organized a bunch of waitlist rewards:

  • an invite to the Infinity launch weekend for the winner
  • a lifetime premium plan for the top 10
  • and a priority invite & 6 months of the premium plan for the top 100.

And the only thing the members needed to do is to spread the word by sharing the received referral link to their acquaintances.

Execution is the real game

After thoroughly planning a referral strategy and gathering everything that was needed to jumpstart the campaign, it was time for some real action.

Setting up a Viral-Loops campaign is a pretty simple process.

After linking the landing page to the campaign and setting a legitimate incentive for a defined target audience, Viral Loops offered a few options to help the contestants share their referral link more easily (ex. Email, Facebook, Twitter or simply by copying the link).

With all of that done, Infinity’s Viral-Loop referral campaign was ready to begin!

The campaign flow looked something like this:


Visitor → Infinity Landing Page → Visitor clicks on CTA button (in this case ‘Subscribe for Infinity Early Beta’) → Visitor becomes a Member → Member receives a referral link which automatically puts him on the waitlist → Member is repositioned on the waitlist and put into consideration for winning an incentive based on the number of successful referrals (the number of people they’ve invited who also subscribed for Infinity’s Early Beta).

Think About Power-Ups...

If Infinity had relied solely on organic visits and conversions, they probably wouldn’t have got near to the results they achieved from their referral marketing campaign.

That’s why the team decided to boost their viral campaign with paid promotion. To be more precise, they used channels such as Medium, Facebook Ads, Beta List, Adwords, Product Hunt, etc.

Statistics

Viral-Loops offers an intuitive Dashboard which showcases a weekly statistical progress of your referral campaign.

Let’s check out Infinity’s Dashboard and see their results:

Infinity’s Viral Loops Dashboard

Some of the key points include:

  • Total number of visits (to the landing page)
  • Number of campaign participants
  • Number of referrals
  • Number of shares

The total number of visits on Infinity’s landing page was around 11,000.

A total of 2,524 participants were involved in the campaign, 343 of which were referrals (people who accepted the invite and joined Infinity Early Beta), and 455 were shares (members of the Early Beta who shared the link with other people).

The end results

Virality metrics were of great importance to Infinity team whilst running a referral marketing campaign.

Analytics gave them a perfect progressive summary of their referral campaign and were the key to their referral program success.

The most important metric in viral marketing is the ‘K-factor.’ K-factor (or Viral Coefficient) is measured by dividing the average number of conversions from invitations received by the average number of invitations sent.

The equation is simple: K = c / i

By calculating the K-factor, Infinity team got a sense of the overall progress of their campaign, which helped them adjust campaign settings from time to time and ultimately achieve better results.

Alongside K-Factor, a few other important viral metrics include:

  • Participant Conversion
  • Participant Share
  • Invitation CTR (Click-Through Rate), and
  • Invitation Conversion

K-Factor of Infinity’s campaign was 0.75, which puts it into ‘the outstanding league.’ That means that 3 out 4 people who received a referral link for Infinity Early Beta access, actually accepted the invite and became members.

Participant conversion was pretty good with 2,524 users, but a total of 11,174 landing page visits. That puts us at a participant conversion of 22%.

Participant share was also solid with 18% of people who shared the referral link with their friends, out of the total of 2,524 participants.

Furthermore, Invitation CTR resulted in a pretty high number of 88% of people who clicked on the referral links their friends sent them.

And finally, an impressive result from Invitation Conversion viral metric, as 75% of people who received a referral link decided to use it and become members of Infinity Early Beta.

 

October 23, 2018 - No Comments!

5 reasons to start your online business during the Holiday Sales Season

The favorite quarter of online businesses, The Holiday Sales Season is here!

Many online entrepreneurs have already optimized their web shops to get a larger hold on profits this year. If you’re not in an online business in this digital era yet, you’re missing out on massive profits.

Let’s take a look at why the Holiday Sales Season 2018 is the perfect time for you to enter the online market and increase your profits sharply.

#1 Holidays Sales Season = Increased Sales

money rain

The Holiday Season starts from October and ends in December. People have already decided to take full advantage of the deal offerings for Halloween, Thanksgiving, Cyber Monday, Black Friday, Christmas and New Year.

Online searches that include the word “gift” are at the peak. Even if people aren’t actively purchasing gifts, they are researching and comparing shipping costs, all to find the best deals for their loved ones.

There are a number of digital marketing channels and strategies that you can exploit for a profitable result.

The year 2017 was a great year for the ecommerce industry. The global revenue amounted to almost $2,290 billion.

Ecommerce experts predict a growth of almost 19.11% in 2018. It will result in a global revenue of $4,479 billion by the end of 2021.

According to eMarketer, the retail industry (in-store + online) will grow by 3.8% in 2018 to $691.9 billion. Numbers don’t lie. They speak for themselves!

Consider the great example of Blenders Eyewear, who decided to leverage online sales tactics to deal with the competition in eyewear niche.

By developing an unconventional digital marketing strategy that was based on a combination of social media marketing and email outreaches, they achieved great success by delivering personalized messages to each of their target audience segment.

extended black friday offer

#2 Customers Prefer Online Shopping Instead of In-Store Shopping

To tell you the truth, the in-store footfall of USA retail stores fell 7.5% in November and December 2017.

Why?

Simply because more than 40% of the customers made sales from mobile phones. December 23, 2017, bagged in the largest share of mobile commerce in the history of USA.

According to ComScore Inc., US retail sales from cell phones increased more than 40% in the final quarter of 2017. Additionally, eMarketer predicts a growth of 32.7% in US retail sales from cell phones in 2018.

Keeping these statistics in focus, make sure when you enter the online market, you optimize your web store to be mobile responsive.

If you’re wondering how you can set up an online business overnight, then take a look at this marketing plan for startups. It will allow you to come strong.

#3 Time-Sensitive Promotions Work Like A Charm!

There are plenty of campaigns that make sense only during the holiday season. You have one final shot to execute them perfectly.

Nonetheless, no need to take the pressure. It doesn’t matter whether you offer a flash sale, holiday gift guide promotion, or any other omnichannel effort. You’ll have a larger target audience to interact with during the holiday season. Take advantage of it.

Furthermore, take this opportunity to define your brand. Work on strategies that will allow you to stand out from the crowd. Any efforts that you make during the holiday season towards refining your brand, can also be carried out to the following year.

Urgency is a great promoter and an efficient tactic for landing more holiday sales. A great example in this context is of Pura Vida Bracelets that places countdown clocks to convey the fact that their merchandise is moving fast.

For the visitors, the sight of not one but two countdown timers is enough to trigger the impulse buying decision.

time-sensitive offer

To follow through on this sense of urgency, the brand uses direct Facebook Messenger messages instead of abandoned cart emails. The messages alert the potential shoppers about the dwindling quantity of items and provide a Checkout button that leads directly to their cart.

#4 It’s Time to Work Smart instead of Working Hard

Passive income is the revenue you earn without putting in much effort to maintain it. One of the best examples of a passive income is the monthly rent check a landlord receives.

Everyone loves the idea of passive income. It means that you can make money even when you’re asleep. A good online store can earn you handsome money without a lot of maintenance.

Online entrepreneurs enjoy the fast track to earn passive income for multiple streams.

Once you have your online store up and running, you can earn from it even if your products or services are not selling.

How?

Well, you can earn passive income by hosting brand advertisements on your website, selling affiliate products to earn a commission, or by developing membership/loyalty programs. However, do remember, you need to have a steady stream of monthly traffic coming on to your website.

#5 Unlimited Growth Potential

With your traditional 9 to 5 job, you move forward by receiving yearly raises and promotions. These are great ways to get ahead, but they’re only incremental forms of growth. You’re definitely not going to be an executive one week and a manager or the CEO in the next week.

Online entrepreneurs, on the other hand, experience big breakthroughs and sudden leaps in success.

If you’re making $100 per week, there are strong chances of increasing your income up to $10,000 or more in the next week.

The knowledge and return on investment that your online business can explode overnight is part of what makes being an online entrepreneur so exciting.

10 Bonus Perks of Becoming an Online Entrepreneur

taking care of business

Apart from the Top five above-mentioned reasons why you should become an online entrepreneur during the Holiday Sales Season 2018, following are 10 more perks that every online entrepreneur enjoys every day.

  1. You can work from home in your pajamas.
  2. Involves Lower Risk.
  3. You learn something new every day.
  4. You can build and outgrow your network.
  5. It makes your internet habit productive.
  6. You can do what you love.
  7. You’re your own boss.
  8. You can travel more.
  9. You can work four hours a week.
  10. You can single-handedly influence the world.

The Amazon Effect

Before jumping into the ocean of online business, you need to understand one thing very carefully.

Amazon has raised the bar for all online merchants really high. Customers’ expectations that concern in-stock products, delivery costs, speed, returns, and customer services are above par.

Online businesses need to have their “A game” ready for the upcoming holiday sales season.

In a Nutshell

As of December 2011, only 32.7% of the world’s population had Internet access. But, we all know the significance of internet today.

It is growing healthily.

If you start an online business today, it will enjoy the benefits of that growth. Feel free to leverage the ecommerce marketing hacks for your first holiday sales season.

After that, you have a whole year to overcome the struggles you faced and make a comeback in the next holiday sales season stronger than ever.