Building a Viral Marketing Funnel: How to 10x Your Number of Leads for Free

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Revenue Summit 2018 San Francisco Building a Viral Marketing Funnel: How to 10x Your Number of Leads for Free Speakers: Olof Mathé - Co-founder & CEO, Mixmax Check out SalesHacker.com for the most up to date sales strategies, tactics, and hacks.

Vendas

Olof Mathé – CEO & Co-founder – Mixmax.
BUILDING A VIRAL MARKETING FUNNEL:
HOW TO 10X YOUR NUMBER OF LEADS FOR FREE

Revenue Summit 2018
KEYNOTE SESSION
CEO & Co-founder – Mixmax.
@olofster
OLOF
MATHÉ
KS

BUILDING A VIRAL MARKETING FUNNEL:
HOW TO 10X YOUR NUMBER OF LEADS FOR
FREE

KEY TAKE-AWAYS TO 10X YOUR NUMBER OF
LEADS
You’ll learn about:
1. The 5 kinds of virality
2. What works and what doesn’t
3. Not all virality is created equal
4. Design principles to 10x number of leads for free

BAD NEWS
The only way to 10x your number of leads for free is to
create a viral product

GOOD NEWS
There are several different kinds of virality

Your users work to get other users on your product, because
it makes the product better for them

Your customers provide value to other people and make their
lives easier, simply by using your product

Your customers show off your product,
(because it makes them look good).

EXAMPLES OF EXPOSURE
VIRALITY
Revenue Summit 2018
What’s that penthouse you’re
staying in?
How did you take that amazing
picture?
“Sent from my iPhone”

NOTES ON EXPOSURE VIRALITY
1. It’s not about value (to the recipient)
2. It’s about social proof (status)
3. It needs to be spectacular to be effective

Your customers get rewarded by you
for sharing your product

Poor person’s word of mouth: Content Marketing

New user growth attributable to signature
≈
Immediate user churn on sign up

REASONS TO KEEP THE SIGNATURE
1. Number of signature clicks ≠ number of impressions
2. Signature provides social proof
3. Users that churn immediately likely aren’t target audience

NOTES ON REFERRALS
1. Works if your product has broad appeal
2. Do it early in customer lifecycle
3. Replace NPS with actual referrals

SHARE OF LEADS
Revenue Summit 2018
Word of
Mouth
44%
Value virality
14%
Referrals
12%
Exposure
virality
2%
Chrome
Store
21%
Other
7%

DESIGN PRINCIPLES TO 10X YOUR
NUMBER OF LEADS FOR FREE

RECEIVED WISDOM
• Spend to grow
• Charge a lot
• Build a platform

WHAT IF IT’S ACTUALLY
• Spend to grow Instill a culture of frugality
• Charge a lot Don’t get pricing right
• Build a platform Enhance an existing workflow

CREATIVITY BREEDS FREE
LEADS
Revenue Summit 2018

RECEIVED WISDOM ON PRICING
You think you want:
1. High prices
2. Annual plans
3. Multiple plans

GET PRICE WRONG, THE RIGHT WAY
What if you actually want:
1. Low prices
2. Monthly plan only
3. Single plan!

CHANGE BEHAVIORS
ENHANCE EXISTING WORKFLOWS

EXTEND AN EXISTING
PLATFORM
Revenue Summit 2018

RECAP
Revenue Summit 2018
1.There are 5 kinds of virality
2.Use them to create viral funnels
3.Bear in mind that not all of them will
work, and not all of them are created
equal

Revenue Summit 2018
THANK YOU SALES HACKER
REVENUE SUMMIT 2018.
CEO & Co-founder – Mixmax.
@olofster
OLOF MATHÉ

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Building a Viral Marketing Funnel: How to 10x Your Number of Leads for Free

1. Olof Mathé – CEO & Co-founder – Mixmax. BUILDING A VIRAL MARKETING FUNNEL: HOW TO 10X YOUR NUMBER OF LEADS FOR FREE

2. Revenue Summit 2018 KEYNOTE SESSION CEO & Co-founder – Mixmax. @olofster OLOF MATHÉ KS

3. BUILDING A VIRAL MARKETING FUNNEL: HOW TO 10X YOUR NUMBER OF LEADS FOR FREE

5. KEY TAKE-AWAYS TO 10X YOUR NUMBER OF LEADS You’ll learn about: 1. The 5 kinds of virality 2. What works and what doesn’t 3. Not all virality is created equal 4. Design principles to 10x number of leads for free

7. BAD NEWS The only way to 10x your number of leads for free is to create a viral product

8. GOOD NEWS There are several different kinds of virality

9. THE 5 KINDS OF VIRALITY 1. Network effects 2. Value virality 3. Exposure virality 4. Referrals & Invites 5. Word of Mouth (aka Brand)

10. NETWORK VIRALITY

11.

12. Your users work to get other users on your product, because it makes the product better for them

13.

14. X-COMPANY VS. INTRA-COMPANY

15.

16.

17.

18.

19. VALUE VIRALITY

20. Your customers provide value to other people and make their lives easier, simply by using your product

21. Value virality

22. Value virality

23. EXPOSURE VIRALITY

24. Your customers show off your product, (because it makes them look good).

25. EXAMPLES OF EXPOSURE VIRALITY Revenue Summit 2018 What’s that penthouse you’re staying in? How did you take that amazing picture? “Sent from my iPhone”

26. NOTES ON EXPOSURE VIRALITY 1. It’s not about value (to the recipient) 2. It’s about social proof (status) 3. It needs to be spectacular to be effective

27. INVITES & REFERRALS

28. Your customers get rewarded by you for sharing your product

29. Invites & Referrals

30. Invites & Referrals

31. WORD OF MOUTH / BRAND

32. Word of Mouth / Brand

33. Poor person’s word of mouth: Content Marketing

34. RECAP, THE 5 KINDS OF VIRALITY 1. Network effects 2. Value virality 3. Exposure virality 4. Referrals & Invites 5. Word of Mouth (aka Brand)

35. WHAT WORKED AND WHAT DIDN’T

36. <1% OF LEADS Network virality

37.

38.

39. 1-2% OF LEADS Exposure virality

40.

41. New user growth attributable to signature ≈ Immediate user churn on sign up

42. REASONS TO KEEP THE SIGNATURE 1. Number of signature clicks ≠ number of impressions 2. Signature provides social proof 3. Users that churn immediately likely aren’t target audience

43. 12% OF LEADS Referrals

44.

45. NOTES ON REFERRALS 1. Works if your product has broad appeal 2. Do it early in customer lifecycle 3. Replace NPS with actual referrals

46. 14% OF LEADS Value virality

47.

48.

49. 44% OF LEADS Word of mouth (aka Brand)

50.

51.

52. SHARE OF LEADS Revenue Summit 2018 Word of Mouth 44% Value virality 14% Referrals 12% Exposure virality 2% Chrome Store 21% Other 7%

53. NOT ALL VIRALITY IS CREATED EQUAL

54. CONVERSION RATE TO PAID Revenue Summit 2018 0% 2% 4% 6% 8% 10% Word of Mouth / Brand Value virality Referrals / Invites Exposure virality Chrome Store Network virality

55. DESIGN PRINCIPLES TO 10X YOUR NUMBER OF LEADS FOR FREE

56. RECEIVED WISDOM • Spend to grow • Charge a lot • Build a platform

57. WHAT IF IT’S ACTUALLY • Spend to grow Instill a culture of frugality • Charge a lot Don’t get pricing right • Build a platform Enhance an existing workflow

58. Most startups after funding

59. CREATIVITY BREEDS FREE LEADS Revenue Summit 2018

60. RECEIVED WISDOM ON PRICING You think you want: 1. High prices 2. Annual plans 3. Multiple plans

61. GET PRICE WRONG, THE RIGHT WAY What if you actually want: 1. Low prices 2. Monthly plan only 3. Single plan!

62. CHANGE BEHAVIORS ENHANCE EXISTING WORKFLOWS

63. EXTEND AN EXISTING PLATFORM Revenue Summit 2018

64.

65.

66. RECAP Revenue Summit 2018 1.There are 5 kinds of virality 2.Use them to create viral funnels 3.Bear in mind that not all of them will work, and not all of them are created equal

67. Revenue Summit 2018 THANK YOU SALES HACKER REVENUE SUMMIT 2018. CEO & Co-founder – Mixmax. @olofster OLOF MATHÉ

Building a Viral Marketing Funnel: How to 10x Your Number of Leads for Free

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