The Viral marketing is another form of word-of-mouth, or “word-of-mouse”, that encourages consumers to pass company-developed products and services or audio, video, or written information to others online. It can be word-of-mouth delivered or enhanced by the network effects of the internet. Viral promotions may include video clips, interactive flash games, advergames, ebooks, brandable software, images, or even text messages.
The ultimate goal of marketers interested in creating successful viral marketing programs is to create viral messages. It users for the appeal to individuals with high social networking potential. It has a high probability to present and spread by these individuals and their competitors in their communications with others in a short period.
Meaning of Viral marketing
Viral marketing, viral advertising, or buzz, refers to using pre-existing social networks and other technologies to increase awareness or achieve other marketing objectives (such as product sales) through self-replicating viral processes. Viral marketing and buzz marketing are similar concepts, the latter focusing mainly on creating an atmosphere of excitement or “buzz” about a new product, often within a specific social group.
Viral marketing depends on a high pass-along rate from person to person. It is a marketing phenomenon that facilitates and encourages people to pass along a marketing message. If a large percentage of recipients forward something to many friends, the overall growth snowballs very quickly.
If the pass-along numbers get too low, the overall growth quickly fizzles. One of the most successful perspectives found to achieve this customer base is the Integrated Marketing Communication IMC perspective.
Top 5 Advantages of Viral Marketing
The following are the advantages of viral marketing:
1. Enhanced Customer List
If an individual thinks about what help a customer list does, he needs to know that it plays an essential role in online marketing, quite like offline marketing.
2. Remarkable Growth in Comparatively Lesser Time
Did it ever occur to individuals? Why is viral marketing called viral? Individuals can say it has a virus-like characteristic – it develops almost geometric progressively. It is also contagious, and once it hits a group of people. It soon spreads everywhere, affecting sales and profit.
3. Gain More Credibility
It essentially works on personal recommendations, with time, when an individual is known to lots of new people. It happens because they are recommended by their friends and network. In that way, the credibility is increased among the audience. An individual gets higher traffic and better comments that work for the business on a positive note.
4. Better Visibility
The stuff is being recommended, shared, commented upon, and discussed among the audiences. This creates a better buzz which leads to greater visibility.
5. Cuts the Promotional Costs
Though this will not happen at the very beginning, with time, it will cut down the promotional costs as the individual already gets enough visibility and buzz around the internet. He does not need to spend an extra amount on promoting the site. It is a great way to lower advertising expenses as enough advertising is done without paying a buck by being recommended by existing audiences.
5 Disadvantages of Viral Marketing
There are also disadvantages of viral marketing, such as:
1. Issue of Spam
Viral marketing uses means such as e-mails and commenting on blogs and forums. When viral marketing is done on a large scale. It becomes annoying for the email receiver to receive a large number of emails in their inbox, and they are filtered as spam messages.
2. Restricts to Spreading of Message
Viral marketing talks about only spreading the message to potential consumers through online means but spreading the message does not benefit the firm. Sales occurred at the end for the firm to benefit, but the amount of sales made apart from promotions is questionable under viral marketing.
3. Viral Marketing is Unquantifiable
Results directly attributable to viral marketing are unquantifiable as companies use other marketing techniques, and the purchase motivation of the consumer depends on the black consumer box, not based on viral marketing.
4. Competition Prone
In the viral marketing strategy, association with unknown groups and individuals could generate scope for the promotion to be subject to competitor viewing. The strength of marketing depends on the transmission of enthusiasm among people about the benefits of the product being sold. A competitor within the generated link could dampen the desired strain.
5. Risky and Expensive
Exposure to the Internet to further entrepreneurship interests and generate additional revenue from a global clientele is not without spam threats, unwanted marketing mix, and brand dilution. Hard-core selling to benefit from the increased commission is widely responsible for many potential buyers being put off.