4-12-23

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What's Happening

• You can now access Snapchat Lenses during Microsoft Teams meetings

• How AI-Enabled Search Will Affect Publishers’ Affiliate Businesses

• YouTube Adds New Features to YouTube Premium as it Seeks to Boost Subscription Revenue

5 Ways to Use Growth Loops for Your Product or Service 

Today, we're talking about loops, more specifically 'growth loops.' The traditional top-down funnel is good and well, but sometimes it puts us on the path of linear growth. It's time to start thinking in loops instead.Here are 5 ways you can use growth loops to fuel some serious growth for your product:1️⃣ Personal viral loop: Encourage users to invite more users by giving them a personal incentive. For example, fantasy football apps like ESPN Fantasy Football offer rewards for referring friends, which obviously increases the overall user base. This taps into the 'fantasy is more fun with friend's mindset.'2️⃣ Financial viral loop: Offer financial incentives to users who invite new users to your product. Take Dropbox for example - if you're running out of space on your Dropbox, you can get more by referring a friend, in turn saving you a few bucks.3️⃣ User-generated content loop: Leverage user-generated content to attract new users and grow organic traffic. Platforms like Quora and Reddit rely heavily on user-generated content to drive engagement and build communities. These platforms get an extra bump from Google indexing their user questions.4️⃣ Physical content loop: Use your product's physical presence to attract new users. For example, bike-sharing company Lime stands out with its bright green bikes and scooters, which attract attention and encourage new riders to try their service. Just stay off the sidewalks folks.5️⃣ Embedded loop: Embed your product on other platforms to increase visibility and attract new users. Intercom, a customer messaging platform, offers an embeddable chat widget that helps users connect with their audience wherever they are online.By using growth loops, you can create a self-sustaining system that feeds itself and drives exponential growth for your product.Remember, your product is your marketing, so think about how you can build the marketing into the product itself.h/t to Harry over at MarketingExamples

Today's Challenge

Take a look at your current funnel. Are there areas in which you can implement loops to drive more growth?

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