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Viral marketing – why is it so powerful
 

Viral marketing – why is it so powerful

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Viral marketing is the new marketing and advertising trend right now, especially in the online scene. It takes advantage of the internet’s network effect to be able to reach a great number of people ...

Viral marketing is the new marketing and advertising trend right now, especially in the online scene. It takes advantage of the internet’s network effect to be able to reach a great number of people in such a short time.

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  • I can see a big improvement in your interview style between this post and the more recent posts. You are still aggressive which is great. You still press your guests for answers to tough questions and try to get information that your audience wants, which is great. But in this interview you were speaking more than the guest and providing more information than the guest. I think you've changed this very much for the better in the interviews since. PR
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    Viral marketing – why is it so powerful Viral marketing – why is it so powerful Presentation Transcript

    • Viral Marketing – Why is it so Powerful?
    • Viral Marketing – Why is it so Powerful?Viral marketing is the new marketing andadvertising trend right now, especially in theonline scene. It takes advantage of the internet’snetwork effect to be able to reach a greatnumber of people in such a short time.
    • Viral Marketing – Why is it so Powerful?• Benefits of Viral MarketingViral marketing strategies offer several advantages to businesses.- Easy to execute. There are several methods of sending viral contents or messagesand all of them are easy to do. Among those methods are sending email, instantmessaging, and using web sites. Sending viral messages through these media will nottake much effort and time.- Low-cost. As compared to sending direct mails, viral marketing proves to be cheaperand a more cost-effective method. With just a little investment on viral advertising, itspower can reach even hundreds of thousands of people as compared to spending thesame amount of money to traditional advertising methods. That is because the onlymoney to spend is for sending the initial set of viral contents, then forwarding orreplicating the message will not require additional costs anymore.
    • Viral Marketing – Why is it so Powerful?- Good targeting. With viral marketing, there is a huge probability thatthe message will reach people that are interested in it. Since theconcept of viral marketing is essentially passing on a message from auser to another person, most likely, the user will pass it to a personwhom he knows will be interested in it. Thus, the percentage ofwasted advertising, which is sending the message to the wrongmarket, will be reduced.- High and rapid response rate. Since viral marketing reaches a goodnumber of the business’ target market, there is also a big possibility tohave a high turnover ratio. Even if the responses will not immediatelyconvert into profits, there will still be huge traffic that the business willreceive which is what most web owners want.
    • Viral Marketing – Why is it so Powerful?These are indeed great benefits a business can get by adopting this marketingtechnique. But what really makes it more powerful than other marketing oradvertising strategies?Let us take the example of Hotmail, where this viral marketing term reallystarted. Hotmail was able to spread over the internet at an amazing rate. It islike an epidemic that quickly spreads out to others once there is a singleperson infected by the virus. That is why this technique was named as such.According to Hotmail’s statistics, its number of subscribers grew from zero totwelve million users in just 18 months. Imagine that! What’s more amazing isthat the company spent just $50,000 on advertising to achieve that numberof subscribers. Compare that to Juno which spent $20 million on traditionaladvertising during the same time period as Hotmail but got much less output.
    • Viral Marketing – Why is it so Powerful?With those facts about Hotmail, viral marketing’s main strength is indeedreaching a huge number of the target market at a considerably low cost.Hotmail did not even have marketing or advertising presence in mostcountries outside the United States but it got to be the major email serviceprovider in these places like India and Sweden.What adds more power to viral marketing is the fact that the viral messagepassed on is like an endorsement from a friend or somebody who can betrusted. People have this way of thinking that “if my friend uses this productand is happy about it, what stops me from using it as well?”In Hotmail’s case, when those people who received an email from theirfriends, relatives, or colleagues using Hotmail learned that it works and theirfriend is a user, they quickly signed up and became members as well. Thesepeople wanted to belong in this group where their friends are also in. Thistechnique is also a matter of association or affiliation.
    • Viral Marketing – Why is it so Powerful?Hotmail’s case is not an isolated one, though. During the sametime that Hotmail is gaining its popularity, so does ICQ. ICQ islike a buddy list and instant messenger, much like MSN andYahoo Messenger now. ICQ also used the same technique andmarketing campaign and it gained almost the same number ofsubscribers as Hotmail within the same time frame.Viral marketing is indeed one powerful tool to increasepopularity of a product or service. However, just like any otherthings, proper use of the technique is necessary. A singlemistake of misuse of it may mean permanent damage to theproduct or service being promoted.
    • Viral Marketing – Why is it so Powerful? If you want to find more about viral marketingand how you can get advantage of this method, subscribe on our website www.greekonlinemarketing.net and get informed! To your success, Panagiotis Pasakoglou