Viral marketing aims to spread marketing messages exponentially through word of mouth referrals, similar to how viruses spread. There are two types of viral marketing campaigns - organic campaigns that spread naturally without marketer input, and controlled campaigns that are strategically planned by marketers. To create an effective viral marketing campaign, marketers must define clear goals, create highly shareable and engaging content, make sharing and participation easy, and provide incentives for people to spread the message. While preparation is key, success also requires a element of luck.