Viral Marketing is defined as a phenomenon that influences consumers to spread a company’s message to others. Many companies have caught on to the fact that this type of marketing is one of the most effective ways to advertise their brand.Right now speakers such as Jonah Peretti, the co-founder of BuzzFeed, are discussing the idea of virtual marketing at conventions like the SXSW. In addition, Francine Hardaway, the co-founder of Stealthmode Partners, has written on her blog about the phenomenon that is viral marketing.
When a video on a website goes viral via social media sites, statistics prove that the video is seen by 34 times as many people as it would have been had it only been on its original website.
Companies that engage in viral marketing have seen mixed results. It has been a great asset for some companies and a headache for others. One company that successfully used viral marketing is BlendTec, a company that manufactures home appliances considered high-end. They released a series of viral videos that entertained people and sold them on purchasing their products. One company that did not have good luck with viral marketing is Agency.com. They produced a viral video explaining the process of creating this type of video to recruit clients. The responses they got on YouTube were overwhelmingly negative.
In the event that a company’s viral message ends up backfiring with the public, most companies scramble to placate people by creating a new, more favorable message. When a viral message does well, the company keeps using it for as long as they can and will try to then come up with a similar message.
While many companies are prepared to engage in viral marketing, others are not. This type of marketing can be risky if carried out ineffectively.
Sources
http://www.marketingterms.com/dictionary/viral_marketing/
http://www.fastcompany.com/3007481/how-buzzfeed-makes-everything-go-viral
http://www.firstpagefitness.com/viral-video-marketing-the-good-the-bad-and-the-ugly/
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