In this episode, Hall welcomes Reed Berglund of iSnap. Reed is a tech startup advisor and CEO of iSnap, a SAAS company with a platform that is helping businesses collect customer video stories and gauge customer satisfaction. As an advisor, Reed supports a portfolio of the company's capital, content, time and experience. The current portfolio of companies includes S4M and Hanna Essentials.

Reed was CEO and Co-Founder of Fullbottle whose company was one of the early entrants in influencer marketing across on Instagram, Facebook, and Snapchat. A marketplace for creating and acquiring visual content from photos to videos from creators around the Globe.

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!