Hi Growth Marketing Pros :wave: Here are some Gro...
# growth-tips
Hi Growth Marketing Pros 👋 Here are some Growth Tips when you are thinking about distribution 📚 : • Virality via social proof: We trust in groups of people and friends, and want to emulate behavior that we feel is validated by others. (e.g. friends or UGC recommendations, endorsements from influencers, other people's reviews, etc). Linktree leveraged the public pages of celebrities as social proof. • The Etsy Effect: When a seller promotes their own content or product from a marketplace, it brings new consumers from the entire marketplace. This drives discovery and loyalty to the platform and creates brand equity. • Influencers enable disintermediation of the social media superpowers: Many companies compete for attention on Instagram and Facebook, and this makes ads expensive and platform-dependent. Tap into the audiences of influencers. Experiment with newer less crowded platforms. • New platforms: New platforms = new opportunities. Leverage (1) mega platform shifts (e.g. IoT, voice devices, blockchain, etc), and (2) breakout individual / social platforms (e.g. Zynga piggybacked on Facebook). • Group purchasing: Users are incentivized to share deals with their networks to get discounts, while merchants benefit from streamlined supply chains and aggregated deliveries. (e.g. Pinduoduo, etc) • Niche markets unlock massive markets: By building for niche, underserved communities, startups can create “wow” in a specific vertical and spur liquidity and organic growth like word of mouth. (e.g. Amazon started with books). Subreddits can be turned into a discrete products. • Standing on the shoulder of giants: The same vein as leveraging breakout consumer companies. Benefit from a “codependent relationship”. • First-order irrational, second-order rational (h/t Chris Paik): Disrupt a market by doing something that seems completely irrational but has some second-order result that is extremely beneficial to the company and creates an exceptional business model. (e.g. Robinhood free trading & monetization via payment through order flow) • FOMO and the Velvet Rope: Leverage scarcity and hype (FOMO) around product launches. The invite system is a powerful use of FOMO as it implicitly leverages social proof. (e.g. Clubhouse, Pinterest, etc) Let's grow together 💪
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These tips are from the below: Investor field notes: distribution and conversion models for consumer startups www.bvp.com/atlas/investor-field-notes-distribution-and-conversion-models-for-consumer-startups By: Talia Goldberg (@TaliaGold) and Alexandra Sukin (@AlexandraSukin) Also, I've summarized about product growth here 😉 Product Growth Handbook: https://glasp.co/articles/growth-handbook
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