What if there was a metric that could tell you how likely your startup is to go viral? Well, it exists, and it's called the viral coefficient. It simply measures the rate at which your product or service is being shared by its users.
C*I*P
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C
C - current number of customers
I - the number of invites your current customers sent to their friends
P - the percentage of those invitees who became your new customers
With this formula, you can identify what makes your product or service appealing to your current users and use that to attract new ones. The higher your viral coefficient, the faster your startup will grow.
Implementing the viral coefficient into your product is easier than you might think. Start by identifying what actions your users take that lead to them sharing your product or service with others. Then, make them as easy and accessible as possible. Add social sharing buttons and you're good to go.
Implement and track this powerful metric, and watch your startup grow. That’s how you build an empire 💪
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