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Platforms part 5 (Virality (4 Elements of virality (1 The Sender. A user…
Platforms part 5
Virality
Virality is a business design problem, not a marketing or engineering effort. It requires design before optimization.
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More pictures created and shared from Instagram expose Instagram to even more users. As users create and send out surveys from SurveyMonkey, survey recipients get exposed to the platform and come on board to create their own surveys. Kickstarter’s project creators spread the word about Kickstarter every time they promote their project.
Services like SurveyMonkey and Eventbrite leverage external networks for viral spread. SurveyMonkey surveys are answered, and Eventbrite events find registrants only when they are spread on external networks, thereby exposing the respective services to new users. These offerings exhibit virality but have no network effects.
4 Elements of virality
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2 The Core Unit. The message is typically the core value unit that the user creates or consumes on the platform. A user taking a picture on Instagram shares it on Facebook.
3 The External Network. These units spread on an external network, connecting people. For Instagram’s growth, Facebook served as a very effective external network, enabling the spread of pictures (units) created on Instagram.
4 The Recipient. Finally, a recipient on the external network interacts with the unit and is brought back to the original platform. At this point, the user from Facebook gets intrigued by the picture and visits Instagram to potentially create photo.
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The most misunderstood contributor to viral adoption is the core value unit created on the platform. The fastest growing platforms have a core value unit that is easily spreadable on an external network.
Encouraging producers to spread their creation at the point of production drives growth for many content platforms. Some platforms like Instagram, Kickstarter and SurveyMonkey actively encourage this as part of the user workflow.
Finally, as noted earlier, a call to action may be implicit, when the spread of the unit helps to complete an incomplete interaction. An unanswered question on Quora, an open survey on SurveyMonkey and a Kickstarter project waiting to be funded are all incomplete interactions, with a clear call to action for the recipient.
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A scaling strategy
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- Strengthening of filters through ongoing data acquisition
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- Scaling community culture
- Minimizing interaction risk
Strategy has moved from controlling unique internal resources and erecting competitive barriers to orchestrating external resources and engaging vibrant communities.
Network Effects
Network effects refers to the impact that the number of users of a platform has on the value created for each user.
Negative network effects refers to the possibility that the growth in numbers of a poorly-managed platform community can reduce the value produced for each user.
uber napkin
two-sided network effect: riders attract drivers, and drivers attract riders.
pointed out that the value of a telephone network grows nonlinearly as the number of subscribers to the network increases, making more connections among subscribers possible.
side switching
This occurs when users of one side of the platform join the opposite side—for example, when those who consume goods or services begin to produce goods and services for others to consume.
On some platforms, users engage in side switching easily and repeatedly. Uber, for example, recruits new drivers from among its rider pool, just as Airbnb recruits new hosts from among its guest pool.
micro markets
Many platforms scale well by focusing on encouraging value-creating interactions before they scale their user base. To achieve this, platforms often target a micro-market, a very small market representative of the overall market and containing both production and consumption activity.
As far as network effects are concerned, small user bases with thriving interactions trump large user bases with low activity.
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Vision
“We want to get to the point that using Uber is cheaper than owning a car.” The ultimate promise: “Transportation that’s as reliable as running water.”
“If we can get you a car in five minutes, we can get you anything in five minutes.”
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