Wednesday, July 29, 2020

What is Viral Loop Marketing and How Do I Use it?

We’ve all heard of something going viral on social media. Usually it’s quick videos of puppies, kittens or someone getting hurt doing something stupid.

The question for modular home builders and modular factories should be asking is “what is viral loop marketing?”

The short definition is:

Viral loops are a type of marketing campaign used to promote a company or product. Named after our friends the viruses, a viral loop is meant to infect a person and cause them to share it with other people. A viral loop is designed to go from zero to thousands or millions of viewers in a very short time.

How can viral marketing loops work for my business?

Here are the steps involved in creating a viral loop:

First, you create a valuable incentive such as an appliance package for a lowball price, a huge discount for veterans or first responders or some sort of hepa filter system for their new home.

Now advertise a referral program to your past customers and your current list of prospects, inviting them to share these incentives with friends.

Now offer them a valuable incentive in return for sharing with someone who eventually becomes a customer. This is the “desire to share” stage, where the customer is attracted by the referral program. I’ve seen a $1,000 incentive sent to prospects reap a nice harvest of money for the referrer and the referrer also bought a new home. That’s a two-fer! 

This works well if your past customer or prospect thinks the incentive is valuable. 

The referral opens the message since it is coming from a friend instead of directly from the factory or builder. The goal is to get the referral to visit your site. In fact, if the incentive to get referrals is appealing, you should see a lot more traffic to your site. 

Be sure to include an email where the referrer can list the names and emails of those they shared your message with or they don't get their reward. This is VERY important!

These new visitors to your site can also take advantage of the referral program and it’s their turn to enter the “desire to share” stage. And the cycle continues.

It may not go as viral as puppies playing but it will definitely go viral at some level. 

Keep an eye on the results and if this one gets you increased site traffic and hopefully some sales, then as the doctor says, “Repeat as needed”

Gary Fleisher is a housing veteran, editor/writer of the, blogs and the ‘coming soon’ Construction Consultant’s Directory. 

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