Viral marketing has become a popular corporate buzzword nowadays. First popularized by Jeffrey Rayport of the Harvard Business School in his 1996 Fast Company article “The Virus of Marketing” to describe Hotmail’s e-mail practice of appending advertising for itself in outgoing mail from their users, viral marketing has expanded tremendously, in line with its own description.
Viral marketing refers to marketing methods that use pre-existing social networks to produce increased brand awareness through self-replicating viral processes, analogous to the spread of pathological and computer viruses. In simplest terms, a consumer gets “infected” (i.e., accepts the idea) and then goes on to share the idea with others “infecting them”. Video clips, interactive games, software, images and ebooks are some examples of viral marketing media.
This method is one of the hottest marketing techniques in use today, and with the spread of the Internet, its popularity is only set to rise. With minimal investment, one can put across a message to millions of potential customers. It is no surprise that even big players with millions of dollars in promotional budgets are jumping onto the viral marketing bandwagon for its extremely high ROI and recall value among the younger generation. Examples include Burger King, TiVo, Microsoft (Halo games), etc. An effective viral marketing strategy consists of the following tactics:
1. Distributing products or services for free.
2. Allowing the aforementioned products or services to be transferred to others.
3. Allowing effortless scaling up from small to large.
4. Exploiting common motivations like desire to win or be popular to spread the message.
5. Utilizing existing communication networks – Internet, phones, word-of-mouth.
6. Utilizing others’ resources to spread the word.
It is important that a viral campaign recognizes the target audience when offering incentives. For example, a campaign targeting college kids but promising expensive office equipment as prizes for participation will not do well. Replace the office paraphernalia with cool electronics like video game consoles and high-fidelity audio equipment, and you may have a winning campaign on your hands.
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