Topics for Discussion Definition Techniques of viral-marketing Tools of viral marketing Components of viral marketing Types of viral marketing Advantages and disadvantages of viral marketing Examples and conclusion Definition • Viral marketing is defined as “marketing techniques that seek to exploit preexisting social networks to produce exponential increases in brand awareness, through processes similar to the spread of an epidemic” • Viral Marketing is that, which is able to generate interest and the potential sale of a brand or product through messages that spread like a virus, i.e. quickly, and from person to person. Techniques of viral marketing:- 1. BUZZ MARKETING:- • It is the interaction of consumers and users of a product or service which amplifies or alters the original marketing message. This emotion, energy, excitement, or anticipation about a product or service can be positive or negative. • Marketing buzz originally referred to oral communication but in the age of social media; Facebook, Twitter, & Whats-apps are the dominant communication channels for buzz- marketing. 2. WORD OF MOUTH MARKETING (WOMM)- • Word-of-mouth marketing is a term used in the marketing and advertising industry to describe activities that companies undertake to generate personal recommendations as well as referrals for brand names, products and services. • Word-of-mouth promotion is highly valued by advertisers. It is believed that this form of communication has valuable source credibility. Also people tend to believe who they know. • According to a research conducted by Nielsen, 92% of consumers believe recommendations from friends and family over all forms of advertising. • In a recent study, 64% of marketing executives indicated that they believe word of mouth is the most effective form of marketing. Tools of Viral Marketing • Viral marketing can be done through internet campaigns. Normally, by making use of blogs, landing pages, Facebook fan pages, Twitter accounts, YouTube videogames, newsletters in massive e-mails, e-mail sequence campaigns, affiliate networks and others. Components of Viral Marketing
• 1. Message: Every message cannot be considered for
viral marketing. Only the ones that are interesting, unique, engaging, and have the potential to spurt a phenomenon are shared widely. • 2. Environment: People are sensitive to the environment, and hence, it has proved as a crucial component in viral marketing. External factors like timing of the context, matter a great deal. • 3. Messenger: It is the most important component and ensures the transformation of a simple message into a viral one. There are three specific types of the messenger. Contd…. i. Market mavens are referred to individuals who are considered information specialists and are amongst the first to get the message. They are the first ones to transmit these messages to their target audience via social network. E.g. Warren Buffett, Bill Gates. ii. Social hubs are referred to people who have a huge social connection and can serve as a bridge between different cultures. iii. Salespeople are referred to people who receive a message from the market haven, make it persuasive and relevant and transmit it to social hub for distributing it to further horizons. Types of Viral Marketing V-marketing is of two types- Paid & Organic Quality of a good organic V-marketing 1. Feeling vs. information -people are not interested about who you are but how you make them feel. 2. Emotional Viral marketing • e.g. Samsung ad (pachana ..pachana), Amit • Blind girl story Contd… 3. Attention Seeking Potential- e.g. Fevicol (pakad ka rakhna), imperial blue (men will be men)- use the feelings like Excitement, sad, anger, surprise, happy etc. 4. Call to Action (CTA)-Use beautiful jingles e.g. i. Mango frooty ….. Fresh n juicy ii. Bola mera lips………. I love uncle chipps iii. Vicks ke goli lo …… iv. Buland bhatrat ki buland tashbir… hamara bajaj v. Yeh hi hai right choice baby……..aaha-Pepsi. Contd….. • 5. Exaggerate the sense of insecurity & fear Examples- - Hair oil (dandruff, hair fall treatment) - LIC Policy - Lifebuoy (99% germs free) - Policy bazar - Clearasil lotion (pimples) ADVANTAGES AND DISADVANTAGES OF VIRAL MARKETING ADVANTAGES:- • High credibility (instant recognisation) • Low cost (compare to TV, News paper, etc) • Great reach (youth r techno savvy, difficult to attract thru conventional ads, global reach thru internet, social media eg. Baba Jackson) • High efficiency DISADVANTAGES:- • Association with unknown groups • Not all products or services are viral • Once unleashed are not controllable • Limited size of information • Information distortion • Hard to measure Gift to loved one Speed Power of signal Part of happenings in life Conclusion Through the investigation and analysis of various viral marketing campaigns, it has been concluded that the future of advertising is viral marketing. It will be the leading choice of medium for advertisers by 2020. The majority of the campaigns studied revealed not only positive effects on the brands through high reach, but also at a rapid and time efficient pace. THANK YOU
(Routledge Research in International Economic Law) Hao Wu - Trade Facilitation in The Multilateral Trading System - Genesis, Course and Accord-Routledge (2018)