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Oh, I’m sure you’ll agree with me on this - There’s no better way to grow a business than by having customers tell their friends, family, and peers about your product.
I admit, at first sight, the formula might look intimidating but don’t worry, using it is actually incredibly simple.
But first, we need to understand what each of its components means. To use the formula, simply extract relevant data for N, P1, and P2 and multiply them together to discover the potential of your viral loop.
And as a matter of fact, getting users to sign up, then try your product, and finally, spread the word about it to others lies at the core of so many growth hacking strategies. And you know what, that’s exactly what I’m going to cover in this guide.
Launched in 1996, the company relied on traditional advertising - billboards and radio ads for growth.
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But having a system that achieves this practically on autopilot, means that your time investment in growth can be as low as zero.
If, while reading this guide, you’ve been asking yourself: Then I’m sure you’ll be delighted to know that there are two formulas you could use to calculate the effect of a viral loop on your business.