Viral Loops helps marketers in Ecommerce stores lower cost per acquisition and improve the lifetime value of each customer by incentivizing word-of-mouth marketing in pre-sale and post-sale campaigns.
The beauty of referral marketing is that it compounds growth: For every 1 customer you get, X customers will be referred. Typically X is anywhere from .1 to .5, but if it is over 1, you have a truly viral product.
What’s a Rich Text element?
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
Static and dynamic content editing
A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!
How to customize formatting for each rich text
Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.
Super easy to setup campaigns with pre-made templates that can be launched with only a few minor tweaks. Shopify integration allows for automatic coupon codes.
Viral Loops main metric is new referred leads - leads brought in through "word of mouth" and incentivizing your existing customers.
Other metrics to track:
- New referred customers.
- Discounts redeemed (from campaign).
Ancillary benefits: Expect stronger loyalty from the customers who referred new business, and expect untracked word of mouth customers/sales.
Ancillary costs: You have to fulfill on orders and giveaways used in conjunction of this product. You need to launch email and other marketing campaigns to get a referral campaign off the ground.
You will want a marketer with basic CSS skills (or a small amount of developer time) to setup and launch a campaign within 2-4 hours of work, with 1-4 hours a month of maintenance.
For larger teams, you may have a meeting to discuss the value and implications of launching a referral program, select your referral marketing tool, and then have another meeting to discuss the right discounts and products to use in the campaign. This could involve working with your COO and Head of Ecommerce to discuss changes in margin, integrating inventory management strategies (such as using products that you want to liquidate), and how the referral marketing strategy will effect on-site behavior and experience.
Who is this for? Early and growing stores with limited time to create more robust campaigns. Anyone that doesn't have a referral program.
Who is this not for? Anyone in a "secretive" industry where customers don't share about the product. If you have no customers, probably wait. If you're enterprise, you could still use it, but may want a full-fledged loyalty tool instead.