Steve Blank - The Viral Loop and what it is about
The voluntary routine of distribution is to create a loop in which the customers repeatedly access and the awakening of interest over and over again to achieve a purchase.
Our declared goal is to attract AND inspire customers. They should love our product so much that they can not wait to tell others about it...They should basically take over our "distribution". If we can do that, we have a great chance creating a so-called "viral loop". And with this we can gradually analyze the individual aspects in our funnel and continue to optimize.
This, of course, sounds super easy... just simply create a viral loop and everybody wants to utilize it, wants to have it. Have you ever searched the Internet for something? Maybe you have caught yourself "googling" for something? Have you used a Kleenex or a diaper or a hair dryer today? These are just a few prime examples of a viral loop. Unfortunately, it is much more complicated. We constantly have to analyze the data and make adjustments. We have to compare these adjustments with the values we had and adjust some more...And here and there it happens that a small adjustment makes a greater impact - in both directions! - and it gets more weird if we reverse this change but the effect is missing.
There are many companies and small, smart startups that deal with this topic on a daily basis. If you want to be successful, then this will be one of your most important tasks the next coming weeks, months and possibly years because what worked yesterday and is even better today does not necessarily mean this will survive on the market tomorrow. Surveys, mail campaigns, sweepstakes, try and fail tests, beta testers, test buyers, test users...there are many possibilities to repeatedly question individual steps and taking steps towards your own success.
This article is written by our CEO, Bernd Korz. With his experience as an entrepreneur, he shares his vision about the lessons provided by Steve Blank. Join us every week for a new article on Steve Blank’s lectures.
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