Viral marketing is a marketing technique that helps in creation of a buzz about a product or service. This is why this type of marketing is something turning out to be highly important for businesses in the current competitive world. It is mostly spread by online sharing, word of mouth and many other ways. The term ‘viral’ is used in this technique because it spreads like a virus, which is uncontrollable and quick and has a huge impact. Reports state that it works, when the right message is passed on under this method to the right people and at the right environment. It is stated that it works in a cycle of consumer trying the product or service, liking it and referring it to his/her friends.
Long lasting impact:
Reports state that this marketing technique can create a long lasting impact among the end users because of mutual trust. Even though, it is gaining more and more importance these days, experts are of the opinion that it should be tapped in a little more formalized way. As they get the details about the product or service through trusted sources, the end users believe this to be authentic information and so they go for the product or service without any hesitation. It is recommended that companies following this method of marketing should quicken the process of adopting the new product and the reason is that it can create a buzz that increases the number of early adopters.
Effect of viral marketing on consumer behavior:
Viral marketing increases the awareness, but not influence consumer decision:
Even though, it is true that brand loyalty and resistance to change can prevent people from suddenly switching to the new product, this marketing method will surely create a trigger in the minds that can be leveraged upon in later stages. The reason is that there is no hard and fast rule that appreciation should result in actual buying of the product.
Varied levels of authenticity are connected to varied types of viral marketing:
End users are of the opinion that the suggestion or communication that comes from a known source is given more value as compared to those arriving from unknown sources. Forums are generally perceived to be reliable source of information.
Major group of consumers treat viral marketing as spam:
Even though, some groups of people consider it to be a spam, they have this thought, mainly because it was not connected to their lives.
Negative communication has higher impact:
The general human nature is that they remember the negative communication they get for longer as against positive ones. This is a challenge associated with viral marketing.
End users are more receptive to service market as against product market:
Many end users are of the opinion that it is much easier to remember a communication they receive about services as against for products.
Monetary incentives can push more people to turn into influencers:
It is not actually monetary incentives, but it is the fun part and crucial information if any motivate the people to forward the mail they receive, to their friends.
To conclude, viral marketing does not result in the sale of product or service, it is for the companies to identify how this type of marketing can influence the decision of the end users to make a purchase.