The Concept Of Virality And How It Is Crucial For Your Inbound Marketing Campaign
Jun 27, 2016
10 min read
Internet today is filled with so much of information and sometimes trashy information that it becomes hard for information seekers to get the best results. Viral marketing is any marketing technique that induces the websites or users to pass on the marketing message to other websites or users, creating an exponential growth in the message’s visibility and effect. As social sharing has accelerated at an exponential growth over the last few years, so too has some of the websites and enterprises that have learned to leverage the full scope of social. One of the noteworthy example of such sites is BuzzFeed that has tripled its monthly visitor count over the last two years, from 4.3 million to 19.3 million. Clearly, BuzzFeed has tapped into something important to the domain of marketing that’s fuelling its massive growth. This method is known as Viral marketing, and you can replicate this method too for your business.
Reasons Behind BuzzFeed’s Marketing Success
1. Audiences Most Crucial to Business Are “Bored”
The target audience that is most crucial to their business are “bored at work”, those who have jobs and have ample of time to browse the internet without supervision. Such audiences are typically looking for content that:
- Will alleviate boredom
- Will connect with their current frustrations in life.
Another kind of audience that emerged were the consumers who use content on their mobile phones while waiting. It was found that it was this audience that was the principal driver of social sharing.
2. Certain Content Types Defined in Viral Marketing
Though these categories may not be the same for your business, BuzzFeed identified some of the content categories that were an immense success for it. These include:
- LOL: Humorous content
- Win: Content that the audience finds to be very useful, ingenious or admirable
- OMG: Content that shocks the audience
- Cute: Self-explanatory, generally animal-based content.
- Trashy: Content that makes people feel better by mocking the failures of others, especially the famous.
- Fail: Content that points out the failings of the society or individual, let’s the audience vent their frustrations.
- WTF: Bizarre or strange content that triggers the curiosity in the audience.
These are some of the examples of content types that you can use for brainstorming your content. The most important question that you need to ask yourself is “ how will this content make the readers react?”
3. Self-Identification is Important For People
It might seem logical to many business owners, that making content targeted broadly at their audience will work, but this might not be always the case. Targeting a specific audience can sometimes be extremely successful. For example, BuzzFeed utilized such an article by aiming: “ 21 problems All Sarcastic People Understand”, which has reached 5.5 million views since May 12, 2014. This type of post particularly attracts people who believe they have a certain characteristic, experience or opinion-- in context of this article people related themselves as being sarcastic. Such posts generate interest from a lot of like-minded people, who then share it with more like-minded people, which leads to exponential growth in pageviews.
4. Social Activism Can be a Key Driver Too
It is not always the cat videos or funny things that can go viral, it turns out people also has an emotional connect towards the society. People also share content they are passionate about and want to spread ideas and their own views about it. Because they have an emotional response after reading or viewing the content, they want to share this information as well as show others that they care about the real issues and follow the news stories of the day.
5. Being Human!
While juggling for so many strategies and objectives when creating content, you must not forget the most important criteria to include: making your content human. By this we mean, you must focus on the human aspect of stories-- forgetting this can make your content look robotic. While creating content, ask yourself this: “why would people want to read this?” Or even better “why would you want to read this?” Some of the examples cited from Upworthy are:
- Mind blowing stories based on science fact
- Stories featuring true human moments
- Stories depicting the win of good over evil
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Why Should You Leverage AI Algorithms for Personalized Offers and Recommendations?
Being a business owner, it will always disappoint you when your shoppers do not convert. It generally happens when they don't get what they are looking for. You might need to understand that one of the critical factors that drive conversion and customer satisfaction is relevance - the relevancy of suggested products and services. It leads marketers and retailers, especially online businesses, to broaden their spectrum and shift towards advanced strategies that enhance segmentation and personalization, and leveraging AI Algorithms is one of them. Today, the majority of the companies have enabled AI (Artificial Intelligence) and machine learning tools to automate things and offer relevant content to users. According to Statista, 70% of European and North American decision-makers in online commerce believed that AI could help them with personalization in 2021. With the proper utilization of AI, you can deliver a personalized experience to your customers at the right time and improve customer engagement. Suppose you are a marketer or thinking of stepping into the e-commerce world. In that case. In that case, this blog could help you understand the significance of AI and machine learning algorithms in enhancing the customized experience for your customers. So, please fasten your seat belts and get ready to experience this exciting journey of AI and its features in personalizing marketing! The Future is Personalized Content Whether it's Spotify or Netflix, be it Amazon or McDonald's, we all are surrounded by personalized experiences everywhere, every day. And that's why these brands have attained a position that everyone admires. However, like these names, customers expect the same level of personalization from all the global businesses. Investing in customized content helps in building customer relationships and enhancing brand loyalty. 91% of consumers prefer to shop with the brands that provide personalized offers and recommendations to them, as per a survey report by Accenture. And why not, especially when you show your consumers what they want to see when you offer the things they want to buy and suggest to them the options they can choose from. All these things make your customers happy, and happy customers are crucial, as they don't just buy, but they also promote your brand. Always remember, there's one thing that speaks louder than your brand's objectives, ad campaigns, and marketing strategies, and that's the voice of your customers. But doesn't it boggle your mind why personalization is crucial in satisfying customer expectations? Well, here are some statistics to show that and to make you understand the negative consequences of lacking personalization: Lack of personalized content frustrates your users. Yes, that's right. As per a survey report by the Association of Customer Loyalty, 74% of customers get frustrated when they don't find the website content personalized. According to a report by Infosys, 59% of the respondents believe that personalization has a profound impact on their shopping decisions. No personalization means lower customer engagement. If your brand does not offer personalized recommendations, you are more likely to lose customer engagement. According to a report by Invesp, 56% of online customers return to a website that recommends relevant and personalized products. Lack of personalization can make the customers leave your brand. Well, that's something serious. As per a research report by Accenture, 33% of the consumers ended their relationship with brands that lacked personalization. Your consumers can say goodbye if you are still using poor personalization tactics. It's not just about customizing the user experiencing but customizing it using the right tactics to get the desired results. According to the analytics data shared by Smart Insights, 63% of customers stop exploring and purchasing products from brands that use poor personalizing strategies. It is probably clear to you how not prioritizing and developing custom experience can drive you towards the risk of getting left behind. Therefore, customer personalization is essential to build a personal connection between your brand and the customers. Wait a minute, you read about the importance of personalization in customer experience, but do you know what customer personalization is? Or are you just caught up in the buzz about what your brand needs and what you are missing, even when you are not sure what it is? Don't worry if you are in the "not having an exact idea" camp; the following sections will guide you through the idea of customer personalization and how AI algorithms can help you in it. What's Customer Personalization? Have you heard about a "one-to-many" relationship? It is a kind of relationship in which one entity of the first group can interact with many of the second group, but vice versa is not true. An entity of the second group can only interact with a single entity of the former group. Confusing, right? No worries, let's understand it through a simple example. A person can own multiple pets, but each one of those pets will have only one owner. Well, customer personalization also works somewhat in that way. When you send mass emails to your customers and clients, customer personalization makes sure that all of your customers get an email that feels unique to them. For instance, assume an email blast sent to all your customers with their respective first names. Now, with personalization, you analyze your shoppers' behavior, interests, and requirements and show them the right digital content that satisfies their expectations. It helps brands improve customer engagement, make them valuable, and ultimately results in sales and productive growth. Customer personalization blurs the idea of marketing. It turns out to assist the users in getting the suitable options, best offers, and recommendations based on their habits and taste. You can look at the example of Starbucks' mobile app to understand the significance of personalization in boosting sales. The company released their application that combines their loyalty programs with personalization, with which the customers can fully customize, pre-order, and take away their drinks from any location. The consumers feel it is helpful, and their interest in the app is easily visible through the results. Presently, the Starbucks mobile app drives approximately 22% of all the US sales for the company. The Combine Power of AI Algorithms and Customer Personalization Consider the image available above. What do you understand from it? Just a robotic hand-holding (or offering) a customized cocktail drink, right? Do you get any idea after seeing it? You might have already understood its significance. However, let's discuss the concept behind it anyway. Suppose you own a club and know some customers frequently visit your place and order the same drink every time. Now, imagine how good it would be if you could record their preferences and when the next time they visit, they could get their drink even before they order it. Well, it would be hard luck for you if they have recently changed their preferences (which generally does not occur). However, if the stars are in your favor, it can make your customers extremely joyful that someone cares for them. Now, the question is, how would you record the taste and preferences of all your customers. Well, that's when AI and machine learning algorithm will do their job. With the right AI approach, you can record a large quantity of data, gain insights from it, and predict all your customers' wants and preferences. It would also help you predict what product your customers want or what content would interest them. The robotic hand in the above picture is also AI-enabled and works the same way. It made a personalized drink based on the customer's usual choice and taste, probably making them happy. How does AI work in Personalizing the Content, Offers, and Recommendations for the Users? AI algorithms in personalization work based on a customer's past experiences with a brand. Let's understand this through Netflix's AI and machine learning approaches to deliver a personalized experience to all its users. If you are a Netflix user, you can recall when you first registered your account on the OTT platform. It asks for your top 3 preferences of movies or shows that you would like to watch. Netflix will recommend other options that you would probably want to watch based on your choices. Not just this, when you finish a movie, the platform will recommend you some other options under the category "Because you watched that, you might like to watch this…." So, ever wondered how Netflix does that? Well, it's all the magic of AI. It records your preferences and tries to deliver you the same personalized experience the next time you open your app. According to Todd Yellin, VP (Product) of Netflix, the brand runs almost 250 A/B tests every year, each one of them offering two unique versions of experience to users to see their engagement and reaction over them. Moreover, in 2014, Netflix used approximately 76,897 "altgenres" to figure out what show or movie it should suggest to all its users, not just to customize their experience but to make them return for more. Similarly, the eCommerce platforms, such as Amazon, derive the users' data by analyzing their online browsing habits, search history, interests, social media posts, and much more. With AI tools and machine learning algorithms, this massive amount of data is processed in microseconds. Every time they visit, a relevant and personalized experience is delivered to each unique user. Let's get an idea about this through some different features of real-time personalizations using AI and machine learning. Personalized Marketing and Recommendation Have you ever searched for a specific clothing item on Google and got surprised when the same thing is recommended on Amazon as well? Well, that's what AI does. It follows you throughout the internet by analyzing your browsing history and shopping behavior and pops out every time to make you purchase that product. The companies will offer you personalized offers and discounts, such as free delivery or a discount coupon code under the "Only for you" category to lure you into buying it. Amazon has been a leader in this area by developing an algorithm that has proven effective in customizing product recommendations since 2000! Personalized Messaging It has proved to be one of the most efficient ways to grab your attention with the help of push notifications, personalized emails, and text messages. Enabling AI and machine learning in this area will help you analyze the users' device usage and behavior to learn about their interests and daily activities. With this, you can sit back and relax while your system sends the refined and most customized content to your target audience at the right time of the day. These notifications can be anything from discount coupons to best offers, everything with the ultimate aim of grabbing your customers' attention. Zomato can be a great example of the proper use of personalized messaging. The company shares the most personalized form of in-app and device notifications to make the users click on it. Remember, the more customized a message is, the more likely it will grab the customers' attention. According to a study, 90% of marketers who use personalization in email marketing increase open and CTRs. Personalized Timing Now, this is something different and challenging to achieve when personalization, but not impossible eventually. You can show personalized messages and content to your customers, but not everyone shares the same daily routine. Even a specific individual does not follow the same daily pattern or activities. However, AI and machine learning algorithms help customize the content delivery time based on previous engagements and shopping behavior. In addition, the system can also analyze the specific days or months in which a particular customer usually shop. For example, in India, people wait for "Diwali Sale" or "Great Indian Sale" on Amazon in the hope of getting better prices and discounts on the products. Similarly, in the US, people look forward to the "Black Friday Sale" to get the best deals on their favorite products. Notifying your customers during these days with personalized offers and recommendations can remind them to visit your online store and shop. Take Away Marissa Mayer, former President and CEO at Yahoo!, once said, "To me, the future is personalization." Indeed, it is, and you can easily see it every day, everywhere. Today, when every business is striving hard to lead in the digital world, integrating personalization into your marketing strategies can be a plus point. As per the latest report by SmarterHQ, 80% of regular buyers only purchase from brands that personalize the shopping experience for them. Moreover, 86% of marketers have observed a measurable growth in their business outcomes after running personalization campaigns. However, customer personalization is not as easy as it looks, and you have already seen this through this blog. But, thanks to AI and machine learning algorithms, personalization becomes more automated and effective. Since the future of the online retail market would be more personalized, it is crucial to enhance customer experience and engagement, and personalization could be the key. Therefore, by having a professional and skillful marketing agency by your side, you can retain your customers through personalization and can always be their favorite. ...
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How Content Can Improve Your Lead Conversion
Just a mouse click on the internet lies a wide range of assorted contents. These contents have dissimilar purposes, on top of that, a good number of them have generated leads and helped businesses to grow. If it fails, then there is something the marketer has failed to add to it, and that is an extra ingredient. <!-- --> Contents are the spearhead of every online business, which helps businesses to define and explicate their views to customers. It serves as an avenue for the customer to meet the marketer virtually and then further proceed to physical meetup if the need arises. Content does an enormous job in inbound marketing and as such is considered the principal role-player, because it aids marketers in winning customers. In recent research from the CMO Council known as, "Lead Flow that Helps you Grow", B2B marketers insisted that contents are the key to gaining success in any niche marketing. And that content has helped undeniably in growing and leveraging for lead generation. Here are some tips extracted from the source as to how you can grow super leads by creating the right content. Begin With Customer Personas Yes. Once more. Purchaser personas. If you are a regular follower of our blogs, you realize that we trust that genuinely understanding your customer personas is one of the keys to request era achievement. If you’re building your premium content plan, it is essential that you use your buyer personas to manage your choices. The primary thing you have to know is those that feign as challenges to your audience or prospects. The thing that keeps them up during the night, deciding your premium content subjects in such that it will reflect in that direction. Next, you have to choose how to convey your viewpoint to your customers on those subjects. Is it through whitepapers, ebooks, contextual analyses, infographics, video, blog entries, online classes, and so on? Much of the time it may be a mix of the above – particularly if you’re just starting out in the industry. As you distribute more content, you'll have the capacity to break down results and see what content marketing plan your personas lean toward. Comprehend Where Your Leads Are Originating From Does it matter whether you’re just starting out or have been doing inbound marketing for some time? It is essential that you know where your leads are originating from. In case you're using a marketing automation site in the likes of HubSpot and a few others, you can run reports or perhaps take a peruse at your dashboard to discover where the lion's share of your leads hail from. Create Content Particularly For Lead Sustenance A good number of advertisers utilize the same content in their lead sustaining campaign that they use to attract prospects to the top point of the channel. It is obvious that for your content to be powerful, and in the end transform your leads into genuine income – which is the real measure of the accomplishment of your efforts, the content needs to be made for each stage of the customer's journey. Then as your customers progress on their trip, a good number of your content becomes invaluable to them. But nevertheless, ensure that your contents address each stage and are utilized properly. ...
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How to calculate SaaS LTV
According to Gartner, the SaaS spending of $200 billion in 2023 is expected to increase by 18% in 2024. Understanding and using critical KPIs is critical for continued growth in the ever-changing world of Software as a Service (SaaS). Customer Lifetime Value (CLV or LTV) and Customer Acquisition Cost (CAC) stand out as guiding beacons, enabling firms to make educated decisions and optimize their saas growth strategies and sales performance. Customer Lifetime Value is the overall revenue a company may expect from a customer throughout their relationship. It considers parameters such as average purchase value, frequency of purchases, and customer lifetime. Businesses must seek expertise from the best seo saas companies that understand CLV better, manage resources, focus on customer retention initiatives, and identify high-value customers for personalized marketing efforts. Implementing strategies such as saas social media marketing can also be pivotal in reaching and engaging potential customers, further enhancing CLV and optimizing CAC. Customer Lifetime Value (CLV or LTV): Unveiling Future Potential Definition: Customer Lifetime Value (CLV), also known as Customer Lifetime Revenue (CLR), is a pivotal metric for businesses seeking to understand the long-term profitability of their customer base. It estimates the net profit a customer is expected to contribute over their relationship with a company. In essence, CLV represents the average revenue a customer generates throughout their lifespan as a customer. Calculating CLV becomes even more crucial when considering factors such as SaaS conversion rate, SaaS sales strategy, and SaaS affiliate marketing, as it allows businesses to project the value of a customer over time, aiding in strategic decision-making and resource allocation for sustained growth in the competitive SaaS landscape. Importance: Understanding CLV is paramount for strategic decision-making in customer acquisition and retention. Here's why: 1. Sets an upper limit on spending to acquire new customers: Businesses can better analyze and understand customer lifetime value (CLV) Insights from a saas dashboard and saas reporting tools. By Knowing the potential revenue a customer can bring over their lifetime, businesses can establish a reasonable budget for customer acquisition. This prevents overspending on acquiring customers whose potential value might not justify the initial acquisition cost, as reflected in real-time data on the dashboard. 2. Focuses on future value rather than past profitability: Unlike historical profitability metrics, CLV is forward-looking. It allows businesses to concentrate on the future potential of their customer relationships, guiding marketing, SaaS branding, and customer service strategies for long-term success. Calculating CLV: 1. Simple CLV Model: Formula: CLV = (Average Monthly Revenue per Customer) / (Churn Rate) For example, if the average monthly revenue on popular saas products is $100 and the churn rate is 2%, CLV = $5,000 (50 months). 2. Discounted CLV Model: Formula: CLV = [(Average Monthly Revenue) * (Retention Rate)] / (Discount Rate) Example: Assuming a discount rate of 7%, CLV = $3,793.55 (38 months). Considerations: The discount rate: Influences CLV and is often derived from actual interest rates or inflation. A higher discount rate implies a lower present value of future cash flows, affecting the CLV. Holistic approach: CLV calculations should consider the customer journey, including repeat purchases, upsells, and referrals. Customer Acquisition Cost (CAC): Deciphering the Investment Definition: Customer Acquisition Cost (CAC) quantifies the total marketing and sales expenditure associated with acquiring a new customer over a specific period. It provides insights into the efficiency and effectiveness of a company's customer acquisition strategies. Calculating CAC: Formula: CAC = (Total Marketing and Sales Costs) / (Number of Customers Acquired) Example: If $100,000 is spent on marketing, $200,000 on sales, and 1,000 customers are acquired, CAC = $300. Considerations: Inclusive costs: CAC includes various expenses such as salaries, bonuses, commissions, creative, and ad expenditures. A thorough understanding of all associated costs is crucial for accurate CAC calculation. Additionally, monitoring and analyzing saas reviews can provide valuable insights into CAC and optimizing marketing flywheel. Continuous optimization: Reducing CAC improves profitability and efficiency in marketing and sales efforts. Regularly reassessing and optimizing acquisition strategies specific to saas lead gen can lead to more cost-effective customer acquisition. CLV to CAC Ratio: Striking the Right Balance for Success Definition: The CLV to CAC ratio is a pivotal metric that compares the value derived from a customer (CLV) to the cost of acquiring that customer (CAC). It serves as a crucial indicator of the sustainability and efficiency of a business's customer acquisition and retention strategies. Calculating the CLV to CAC Ratio: Formula: CLV to CAC Ratio = CLV / CAC A ratio above 3 is generally considered healthy, indicating that the business generates substantial returns from customer acquisition investments. Considerations: Striking the right balance: A high CLV to CAC ratio suggests the business is acquiring customers efficiently and deriving significant long-term value. However, an excessively high ratio may indicate underinvestment in customer acquisition, potentially hindering growth. Industry benchmarks: Comparing your CLV to CAC ratio with industry benchmarks provides context and insights into your competitive positioning. Ideal Ratio: The optimum CLV to CAC ratio is a significant indicator for long-term corporate success, with 3:1 being regarded best. This ratio indicates that the company may anticipate producing three dollars in customer lifetime value for every dollar invested in customer acquisition. A ratio of 1:1 indicates a delicate balance in which expenditure equals revenue earned by items or services. A 5:1 ratio, on the other hand, may imply possible underspending on marketing and sales activities, indicating a need for more expenditure to maximize customer acquisition value. Businesses travel the route to sustainable growth through this delicate tango between CLV and CAC. Strategic calculation and optimization of these indicators provide a comprehensive view of customer interactions, allowing for informed decisions that advance SaaS enterprises. Embracing the power of CLV and CAC is a fundamental saas go-to-market strategy for success in the b2b saas lead gen, where unlocking the full potential of customer relationships is paramount for flourishing in a dynamic market landscape. Conclusion: Finally, the dynamic interplay between Customer Lifetime Value (CLV) and Customer Acquisition Cost (CAC) is a guidepost for SaaS enterprises seeking long-term success. Companies may gain a better knowledge of their customers by recognizing the long-term profitability implicit in customer relationships and optimizing acquisition methods. In addition to focusing on CLV and CAC, a crucial aspect for SaaS enterprises is ensuring that their online presence aligns with the industry standards for user experience and design. Investing in the best saas website designs and technical seo for saas becomes an integral part of the strategy for long-term success. The optimal CLV to CAC ratio, with 3:1 as the apex, becomes a standard for efficient investment, guaranteeing that every dollar spent on acquisition provides significant returns in the form of customer lifetime value. Embracing the synergy between CLV and CAC is a strategic requirement and a critical component of prospering in the competitive landscape of Software as a Service. ...
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