Thu, 5 December 2019
Competitive advantages increase revenue by 30% over the competition or decrease cost by 30%.
Virality is a key competitive advantage in which users invite other users to join your platform.
Virality reduces your cost of customer acquisition. It’s is different from Network Effects. Network Effects shows the platform increasing in value based on more users participating.
I once had a CEO tell me “I wish I had designed for virality rather than revenue.” If you build virality into your product, you will have a larger pool of prospects to monetize as well as a lower cost of customer acquisition.
For you next project, consider designing for virality.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.
Let’s go startup something today!
Direct download: Startup_Funding_Espresso_--_Five_Competitive_Adv-Virality.mp3
Category: -- posted at: 10:52pm CST