GE 261: How Viral Loops Drives $40K MRR and 1,500 Organic Leads per Month without Paid Ads (podcast) With Savvas Zortikis

Savvas Zortikis Viral Loop

Hey, everyone! In today’s episode, I share the mic with Savvas Zortikis, the CEO and Co-Founder of Viral Loops, which is a venture-wrapped viral and referral marketing platform.

Tune in to hear how they turned word-of-mouth into a business model, how they drive 1,500 organic leads per month, and why Savvas thinks you should focus in on a couple of business elements instead of a whole bunch of different ones.

Show notes:

  • [00:46] Before we jump into today’s interview, please leave a review and rating and subscribe to the Growth Everywhere Podcast!
  • [01:08] Savvas Zortikis, who is the CEO and Co-Founder of Viral Loops, which is a venture-wrapped viral and referral marketing platform.
  • [01:41] He’s been in the marketing industry for 3 years.
  • [01:52] He has worked internationally for major companies (BMW, Mercedes, etc.)
  • [02:22] He started the agency as an in-house project.
  • [03:05] They are a referral marketing platform.
  • [03:14] They want to make word-of-mouth work for small and medium businesses.
  • [03:36] An ecommerce store that is just starting out doesn’t have the word-of-mouth it needs to succeed.
  • [03:57] Savvas wanted to make a flexible and personalized approach that would work for different businesses in different industries.
  • [04:30] They were inspired by other brands like Dropbox.
  • [05:00] One of Savvas’ favorite stories is about a growth marketing academy. They organized one of the biggest growth marketing conferences.
  • [05:18] They decided to run a registration campaign using the Milestone campaign through Viral Loops.
  • [06:04] The more friends you invite, the more you get out of it.
  • [07:02] Viral Loops drove 30-40% of the traffic through the campaign.
  • [07:38] Viral Loops is a SAAS business, so they have a 40 day trial and then they charge you based on the number of people that join your campaign starting at $49/month.
  • [07:57] Currently, they are really close to 40,000 MRR.
  • [08:11] Currently, their growth rate is at 25% month over month.
  • [08:30] In terms of leads, they get around 1500 leads per month.
  • [08:50] Most of these are organic leads from blog posts. No paid ads.
  • [09:10] Viral Loops customers are paying an average of $100/month, but they currently have fewer than 800 customers.
  • [09:45] They launched in February 2016, but they didn’t do any marketing; they were just building the product and wanted to get people to test it out.
  • [10:21] They tried many marketing tactics, but this was probably a mistake because it spread them too thin.
  • [10:50] So, they decided to only do outbound marketing for two months. It was a disaster.
  • [11:08] Then, they started posting a lot of content and launching products.
  • [11:30] They got a lot of customers through Product Hunt, then that company became their customers.
  • [11:55] A tactic that has worked well for them is that they give their product away to marketers for free.
  • [12:02] When they get value from Viral Loops, they then spread the word.
  • [13:25] There is no silver bullet when it comes to marketing and growth.
  • [13:55] They started focusing aggressively on acquisitions and then activation.
  • [14:28] Savvas thinks you should focus in on a couple of things instead of many different ones.
  • [14:50] It doesn’t’ pay to divide your focus into too many parts.
  • [16:18] Another mistake they made was that they didn’t take customer success too seriously.
  • [17:30] Customer satisfaction is a main driver for word-of-mouth referrals.
  • [17:55] They need to train their customer success employees to become growth marketers in a sense.
  • [18:40] Viral Loops is testing a lot of tools, but twp that have added value is Segment and Intercom.
  • [19:28] One book that Savvas recommends is The Hard Thing About Hard Things. He thinks it will prove helpful to those starting a business from scratch.
  • [20:20] Savvas really likes Rich Ross’ podcast, which isn’t about marketing directly, but he talks to a lot of successful people.

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Disclaimer: As with any digital marketing campaign, your individual results may vary.