Marketing as a concept demands a way to reach out to the prospective target customer and increase the sales and brand value of the company. Marketing includes the four P’s: product, price, place, and promotion. The product stands for the final package of features and attributes that the customer is willing to buy; price intends to identify the right price per the competitors, market trends, cost to the company, and customer affordability. Place defines the final location or accessibility of the product or service to the consumers. Finally, promotion includes advertisements, public relations, sales, after-sales services, press releases, digital marketing, hoardings, and all such activities that aim to promote the sales and image of the company in the market.
Viral marketing is a recently invented technique that has gained prominence due to the advent of social media. For any commodity, word of mouth is the best form of promotion that a company can get. Hence a happy, satisfied customer is the best asset for a company. The aim of any company must be to create a delightful experience for existing customers so that they are satisfied with the company and its products and services.
Viral marketing, in simple terms, can be explained as a technique of marketing the product in a way that is done from person to person. It is like spreading a piece of news like fire. This can be attained by word of mouth or through social media platforms, or the internet. It can be seen that if a customer shares feedback, it can be easily forwarded and shared by many people. There can be many likes and comments given on that feedback. These all actions together make the feedback reach as many online users as much as possible. Like this, within few hours, the feedback shared goes viral. The image below correctly reflects how viral marketing works from one person how it spreads to so many people.
Now, if the feedback is from a resentful customer, it adversely affects the company’s image. However, if the feedback is good and genuine, it positively influences its image in the market and helps it boost its sales.
With the presence of the internet and social media with almost all the end-users, the concept of viral marketing has become the latest technique of most effective and efficient way of promotion for the company.
With the advent of technology and the concept of viral marketing gaining popularity, companies work on creating content with the intent to make it go viral and reach as many people as possible in the target customer group. This entire process is called a viral campaign.
Generally, viral marketing happens in the form of a video that catches people’s attention, is liked by viewers, or is found amusing and hence shared multiple times within the first few hours of the launch of the video. This makes the video reach the maximum number of people. When the company itself executes viral marketing, they present the video to appear authentic and not a company-sponsored video. If the video appears to be originated from the company itself for self-promotion, it fails to capture the desired attention and rather creates a negative market for the product.
The internet and the rise of online media have boosted the abundance of viral communications in the form of memes, shares, likes, and forwards significantly. When a campaign reaches a high number of people, it is dubbed “viral”. Companies may see a rise in sales, increased social media engagement, and increased awareness about their brand and products.
Advantages of Viral Marketing
There are several benefits of viral marketing:
Cost-effective: Since these are not like paid promotions, this is one of the most efficient techniques of promotion
Better market coverage: Viral marketing has the potential to cross all boundaries and reach as many viewers as possible. It provides a great opportunity to reach out to a larger market.
Brand image: Through this technique, the company gets an opportunity to be known on a bigger platform and become famous overnight. The overall brand image of the company can drastically enhance with the help of viral marketing.
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