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Monday, May 14, 2007
Advantages and Disadvantages of Viral Marketing
In the current competitive business world, every business owners look different methods to promote their business, globally. One of the widely available, familiar and successful marketing strategies is viral marketing. The concept behind the viral marketing is word-of-mouth, i.e. use influencers to make peer-to-peer product recommendations. The term viral marketing formed by venture capitalist Steve Jurvetson in 1997 to explain the exclusive referral-marketing program produced by Hotmail, one of the primary free e-mail services. Several outsourcing companies around the world are providing viral marketing services. The viral marketing has some disadvantages also.
The advantages of viral marketing service are high credibility, low costs, great reach, high efficiency and the opportunity to continuous promotion adjustments. The main reasons for the wide popularity of viral marketing are:
- Socializing and networking has now made very closer to the people. So relatives and friends are simply accessible over the net.
- Viral marketing is one of the cost-free methods for promoting a business transaction.
- The time and resources are easily available. In this type of marketing, one person contacting their friends or relatives. They contacted more and more people and the chain goes on. It generates revenue from advertisement.
In spite of the probable risks, viral marketing has the ability to draw the greatest potential audience at a convincingly low cost, raising the reach of your business.
The main disadvantages of the viral marketing are:
- Association with unknown groups - The strength of viral marketing depends on the transfer of messages from person to person. During this process, it may reach someone you would rather not be associated with.
- Spam threats - If made badly, viral marketing can guide to significant spam issues.
- Keep away from making merely financial-based offer
- Brand dilution
posted by Outsource Strategies International @ 8:51 PM
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