What is viral marketing?
- Marketing that goes viral and spreads
- It involves any marketing strategy that encourages word-of-mouth advertising and the use of networks
- It seeks to spread information about a product or service from one person to another, by word of mouth or sharing via the internet or email.
The importance of viral marketing:
Viral Marketing is one of the most effective marketing tools and it doesn't require a large marketing budget. Social media has made it easier to achieve results quickly and lower the costs of marketing initiatives.
The Key: provide your audience with information they will want to share with the people around them.
Why Viral Marketing?
- Create brand awareness
- Efficient (Time)
Benefits of viral marketing
- Increases brand awareness - if your brand goes viral, more people will know about your brand.
- Rise in website traffic - with increased brand awareness, more people will visit your website.
- Increases lead flow and conversion rates - more site traffic, means an increased amount of customer leads and potential sales.
- Cost and time effective - compared to other marketing strategies viral marketing is both cost effective and quick to perform
- No Geographical hurdles - you are able to reach audiences from all over the world in a short period of time.
Drawbacks of viral marketing:
- Nuisance factor - it may become annoying to users. For example, if you use email as your form of viral marketing, people may get annoyed and mark your email as spam, as many businesses use email in their marketing strategies.
- Negative buzz - a negative buzz can spread quickly. For example: your audience may post negative information on your business' social media and create a negative buzz around your company.
- Privacy - people may not be interested in participating in campaigns due to privacy concerns.
- Tough to measure - it is hard to measure the effectiveness of viral marketing.