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| Viral Marketing – Business Marketing Chat |
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| Viral Marketing
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| Viral Marketing 1: Word of mouth advertising
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| Viral marketing often referred to as word of mouth advertising, while rarely discussed as part of an advertiser’s media strategy, is actually one of the most effective and impacting advertising communications available to a company. Viral marketing, as the name suggests, is communication about a product, service, or company that ‘spreads’ by person to person, or word of mouth interaction of people.
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| An interesting and sometimes uncontrollable phenomenon amongst consumers is that they like to talk. When consumers have impacting experiences with products they tend to share that experience with family, friends, neighbors, colleagues, clients, or other members of their personal network. More interesting, people share the more negative experiences they have with products more often than the positive experiences. Depending on the research study one adheres to, some suggest consumers will tell, on average, 15-20 others following a negative consumption or purchase experience, and only 6-10 people after a positive experience.
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| While these numbers seem to point out the negative aspect of this viral network of consumer feedback, it also notes the opportunities available to a good company with a good product or service. Not only do consumers share their company and product experiences with others, this information seems to have more impact on whether the informed will buy or not, compared with traditional media advertising communication.
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| How can an advertiser make use of viral marketing? Obviously, giving consumers great experiences, great products, and great service is a first start. By putting forth good things for people to share with others, natural advantages will be present. But, there are also some very proactive things companies can and have done with viral marketing.
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| Many companies encourage viral marketing through affiliate or referral programs. Referral programs essentially reward one customer of a company for referring, or bringing in another customer for the business. Referral incentives include money, gifts, product discounts or giveaways, commissions, and more. Companies simply offer their customers a reward to motivate them to make use of a natural behavior.
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| Affiliate programs are another unique tool many companies are using to grow their businesses through management of the word of mouth communication process. Affiliate programs, common on many internet retail sites, reward other businesses or individuals for adding links or distributing information about goods or services. This increased exposure benefits retailers by giving them a large network of affiliate sites or companies to promote and distribute their products through. Affiliates are rewarded with commissions, cash bonuses, discounts, link exchanges and other unique tools.
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| While referral and affiliate programs are generally formal business methods used to enhance viral marketing, some companies use informal, or ‘grass roots’ advertising as another mass communications driver. Companies will often employ ‘street teams,’ or excitement generators to go out into businesses, neighborhoods and other venues to give out free samples, talk up the value of products, and generate excitement about a new or established brand within a community.
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| Salespeople realize that the strongest selling tool is often a reference from a credible and reliable third party who helps establish a trust factor with a new prospect. While most salespeople ask current customers for names and contact information of other potential customers they know, some go a step farther and seek out references that may be acquainted with prospects. They understand that word of mouth opinion and the voice of customers is perhaps the most powerful advertising tool available to them.
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| Viral marketing 2: Online Viral Marketing |
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| Viral marketing is also a term used to describe the online version of word of mouth advertising. The objective of online viral marketing is to create something useful or creative which people will want to pass along, which can enhance the exposure and image of your brand. |
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| Online viral marketing can include flash games, online videos, interactive web site’s, and much more… anything that is funny or useful, and that will encourage the original person who found it, to pass it on “like a virus” to a friend, family member, or co worker falls into the area of online viral marketing. |
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| Online viral marketing has been increasing for a few years now, and is a very affordable form of marketing when it works. The key is to be creative and have something that people will want to pass along to somebody else. |
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| Thank you to Neil Kokemuller for this “Viral Marketing 1” article. |
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