Everyone was stunned when Facebook bought the mobile messaging service WhatsApp for around $16 billion. But what was even more shocking was that WhatsApp had reached 450 million monthly users "without spending money on marketing". According to a past Stanford University study, the chances of going viral are one in a million. Yes, one in a million!
WhatsApp is a great example of a viral product. Its popularity increased because it provided a valuable service to its initial users as well as their network. While it’s easier to go viral on some platforms (like TikTok), there are no quick hacks. To improve your chances, follow these best practices.
Focus on Your Existing Customers
Instead of fighting your competitors trying to acquire new customers, focus on those you already have. Start a referral or customer loyalty program to encourage them to bring in new customers. You can also try out marketing strategies based on previous purchase patterns to encourage repeat business.
Focusing on your existing customers is important if you’re trying to get funding. If you’re trying to open more branches, you can easily convince lenders or investors that your business model works. For example, if you live in Georgia and you’re applying for a Georgia title loan, don’t emphasize to the lender that you’re trying to expand your business, tell them there’s a large market for what you do. It will be easier to get funding.
Post at the Right Time
Each social media platform attracts different audiences and can be used for different business purposes. Instagram is ideal for influencer partnerships, Facebook can help boost customer care, while TikTok helps people discover what’s trending.
Identify your target audience and know their preferred platforms. Determine how they interact with your brand and when they are most engaged. Post at optimal times to make your content stand out in crowded feeds.
Adapt Easily
Successful startups have one thing in common: they quickly switch directions in response to changes in the market. Take an agile approach to product and company development if you want to grow more quickly. A business that adapts and changes quickly can test different approaches and make the most of opportunities.
Understand pop culture trends to become part of the movement when it makes sense. Agility helps you adjust quickly to trends and market changes. Your business will grow and change with the market, easily adapting to shifts and trends. Create a business model that prepares your business for change.
Make Sharing the Goal
GoPro became popular because of its online videos and in-store displays. While the company makes compact video cameras for sportspeople, it doesn’t market product specs or features but actual user experiences.
GoPro's tagline, "Be a Hero," makes it clear that its cameras aren't for just recording extreme outings, they are for sharing everyday adventures and impressing your friends. The company's best marketing tool is its customers, who share footage highlighting why action lovers should have a GoPro camera.
