This Week in Business Skills - Viral Marketing

The now so called Viral marketing or internet marketing, is not a new concept but though a strong concept for both small and large businesses. This is what we used to call word of mouth publicity or marketing. Now it has expanded its form in a way that instead of simply doing word of mouth publicity we’re also using social networks to increase brand awareness and product sale through self-replicating viral processes, which otherwise called social media marketing . Here the person promotes products or shares information with his friends, family, colleagues and contacts. They in turn, if feel that the information or knowledge regarding products or anything is worth sharing with others, they share with their friends, family and contacts.

Effectiveness
This is what builds a chain of communication and marketing spreading like a worthy informational virus among people. This way the information passes on or the product promotion goes up. When people are convinced of the quality of the product, they prefer buying it and which increases sales. After using the product if they are satisfied with it then they refer to others which in turn increase the sales of the product and brand value in the market. Viral marketing yields fast and effective results and if used more effectively it can increase awareness among people regarding a particular product or sharing particular information within a short span.

Limitations

Like everything else there are some limitations in viral marketing too. Viral marketing will be beneficial only when the general public, have an idea about the concept of promotion or the product. Because people don’t usually believe, what they see over net. Where as if they have heard about it outside on air or on TV, they will be at ease in some aspect and believe what they have been referred to.

Viral marketing will be beneficial or reap results fast when there is awareness about the product among the people. If the product is available only on viral marketing, and people have to rely on the reference then it becomes a difficult task. So the retailer also has to open free stores initially for testing the product among people and get their feedback. If we rely on viral marketing as an addition to existing other types of marketing strategies then it will be good and beneficial. But to simply rely on viral marketing is never a good idea.

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