Join Brad Batesole for an in-depth discussion in this video Social-currency incentives, part of Marketing Foundations: Growth Hacking.
- Having your content shared on Twitter and Facebook has become so valuable to brands that a social post is now a currency in itself. One company, paywithatweet.com has built an entire business model around this concept. Instead of giving something away for free, you'll sell it in exchange for a social post. And this can create a chain reaction and generate a lot of buzz. Let's say, for example, that you've created a white paper or eBook that's valuable to your audience. Traditionally, you'd trade that for an e-mail address, so you could follow-up with more aggressive conversion tactics.
But with a social currency approach, you can leverage users to drive more awareness to the offer. And because people tend to connect on Twitter and Facebook with people in similar industries, the audience is often highly targeted. It works much like a shopping cart. A User selects what they want and is then prompted to share on a particular network. The Application connects and looks to see if they made the post with the correct content and then unlocks the download. You can also build this functionality without a third-party application. All major social media networks have an interface for building deep connectivity.
But if you're strapped for time, or have limited development resources, an off-the-shelf solution like paywithatweet.com is an excellent choice. Consider evaluating if social currency incentives are a strong fit for your brand.
The course concludes with growth-hacking case studies, highlighting the growth-hacking techniques that helped propel such companies as Airbnb, Uber, and Tinder to explosive growth.
- What is growth hacking?
- Understanding the funnel
- Setting up tracking and analytics
- Leveraging customers and existing users
- Testing ideas
- Generating an audience
- Creating an incentive strategy
- Real-world examples of successful growth hacking