Facebook's dominance in the social media landscape is undeniable.The answer lies in a powerful force called the network effect. Imagine Facebook as a castle, with each layer of network effects acting as a formidable wall. Here's a breakdown of these six layers:
Many-to-Many Personal Direct: This core layer lets you connect with friends and family, creating the initial value proposition.
Bandwagon Effect: The "everyone's doing it" mentality drives users to join a platform with a large existing network.
Two-Sided Platform: Facebook connects users with businesses (ads) and content creators (posts), making it valuable for both sides.
Two-Sided Marketplace: Groups and marketplaces allow users to directly buy and sell, further increasing platform value.
Data Network Effect: The more users, the richer the data Facebook collects, leading to better targeting and personalization.
Personal Utility: Features like Messenger and photo albums make Facebook an essential communication and storage tool.
How SMBs Can Use These Tricks To Break Free & Thrive Organically
Inspired by Facebook’s strategy, we created the CURD app. Just like adding live cultures to milk transforming it into curd, the CURD app helps small businesses thrive & grow by nurturing their network connections. But how? Imagine organic growth fueled by referrals, social validation, and powerful AI recommendations over expensive paid advertisements.
Here’s how CURD uses the power of network effects to help you grow organically
Many-to-Many Personal Direct: We encourage SMB’s to leverage their immediate connections (family, friends, colleagues, and customers) for recommendations to prospective consumers of their product and service. It’s starting with your own circle.
Bandwagon Effect: If your business is doing well on CURD, we show you off in your network’s network search results based on deal closures and reviews within the user's network, tapping into the bandwagon effect.
Two-Sided Platform: We are all about bringing businesses & customers together. We help businesses find customers and customers find what they're looking for, with social validation & insights from your network.
Two-Sided Marketplace: While our current focus is on referrals and social proofing, looking ahead, we are thinking about letting businesses sell directly on CURD, making it super easy for customers to buy what they love.
Data Network Effect: Our smart tech (CURD AI's) recommends your businesses based on the user’s network’s interaction with you, helping you reach out to the right people at the right time. This is a foundational step towards creating a data network effect.
Personal Utility: We think businesses should only pay for advertising that works. So, we're all about nudging you to incentivize the people who help spread the word about your business, adding a layer of personal utility.
We're taking a page out of Facebook's book, hoping to make CURD the place where small businesses can grow big by making the right connections.
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