Karmaback has evolved. The company is growing and finding more and more opportunities to deliver huge value to our partners while keeping it 'real' and fun for our members. The latest tool in our arsenal is called the Fan-share-tool (currently supporting Facebook and soon Twitter). This tool allows our partners to post interesting stories, images, videos and more to their fan-page, while enabling several unique features on the post: a "Reshare, Get Rewards" button which gives their readers Karmaback points for resharing the post with their friends, and complete analytics on every level of share from top to bottom... letting us measure the Viral Coefficient (how many levels of sharing) occurs for any given post.
So, why the new feature? What happened to our Minimum Viable Product (MVP)?
Actually, our MVP was a huge success. We learned most importantly, that people were not willing to pay a lot for "just feedback" on their website. We learned that our customers were really interested in getting beyond their fans to new customers. So, we defined a new MVP, and set about building that. Meanwhile, we've opened up our "feedback" tool for anyone to put on their website, completely 'free'. Check it out here: http://karmaback.com/partner-sign-up/
A Minimum Viable Product (MVP) is one which is the smallest thing you can build that someone would be willing to pay (or show willingness to pay). I've blogged about this before, but I've been following this practice now for almost a year, and find the term to be useful in so many situations. What is surprising to me was how important the feedback we have gotten back was! The real question is though, what do you do when the feedback says... people aren't willing to pay for your MVP? Answer, construct a new MVP, build that (and only the minimum of that) and sell it! The whole point is getting feedback from real customers ASAP.
To that light, we've built out our new tool and are announcing its general availability today. The message:
Get beyond your fans to your fans friends and beyond. The Fan-share-tool from Karmaback rewards sharing of your fan posts. Say something cool AND reward people for sharing it, and see how far your viral coefficient can extend!
For details contact me at: