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Going Viral vs Using Network Effects in marketing for orthopedic device companies

16 Nov 2024 · 1 min

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Viral moments like Pokémon Go and the Ice Bucket Challenge don't build lasting businesses. Network effects do. The difference: virality is a one-hit wonder, but a real network effect spreads itself and creates virality as a side effect.

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You don't want to have a business model on virality. Virality is like Pokémon Go, the Gangnam Style video, Ice Bucket Challenge. You don't want to build a net, a business on that. Okay. Virality does not guarantee a network effect, but if you leverage a network effect, it will guarantee virality. And so if you look at viral effects and think about this on social media, okay, viral effects means like you have one thing that goes viral, which connects to more people and more people. But it's all leveraged on that one thing happening. Versus the network effect has more of a spread-out approach, as you can see based on this visual here. And this is, uh, be more specific in a moment, okay? Now I want to walk you through the network effect framework.