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by MalcolmDiggs
3612 days ago
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In my experience, there's usually two parts to this: 1. Initial external paid marketing (in the form of Adwords campaigns, email blasts, facebook ads, affiliate programs, etc). 2. Reworking the product until the "viral coefficient" is higher than 1.0. The viral coefficient(aka "k-factor" or "k value"), is basically just the likelyhood that one existing customer will refer another customer. So if your k-factor is above 1.1 for a given period, your initial userbase will grow over each period with no additional marketing needed. In practice however, few startups ever reach a k-value of 1, so many rely on a combination of virality and traditional paid marketing in perpetuity. [1] https://en.wikipedia.org/wiki/K-factor_(marketing) |
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Also, for external marketing, it doesn't have to be paid. It could be in the form of time investment in content marketing and other forms of inbound (of course that's if you don't pay someone else to do it).