Viral Marketing
Viral Marketing is a waste of money. Discuss considering the place of Viral Marketing within the digital marketing mix.
In the following essay I will be discussing the idea that “Virtual Marketing is a waste of money”, arguing my point considering its place and value within the digital marketing mix. I will do this by first defining what viral marketing is, and discussing what it is. I will then briefly outline what the digital marketing mix is, and assess each section of the mix against virtual marketing, in order to find out its usefulness and limitations, in terms of being a waste of money. I will then proceed to discuss my findings, before finally concluding the argument.
Viral marketing can be defined as “A mechanism that facilitates and encourages people to pass along a marketing message voluntarily”. Viral marketing campaigns tend to seek and identify highly socially networked individuals, who are capable and willing to pass a message along, and in this sense, it is very similar to word of mouth. The term viral marketing was created by Professor Jeffery Rayport (1995), who suggested there were 6 rules which were needed for efficient virtual marketing, and these are still relevant today. In short, these are, stealth is the essence of market entry, what is up front is free - payment is later. let the behaviour of the target community carry the message. look like a host, not a message. Exploit the strength of weak ties. Invest to reach the tipping point.
The concept that stealth is the essence of market entry is important because successful viral marketing campaigns tend to use less obvious ways of bringing their brands attention to the customers’ attention, through methods such as unusual placement or contexts. (Churchill) A good example of this can be seen in the work of Comparethemarket.com, an insurance comparison website, who blended into the congested market, until 2009, when they managed to stand out by using a less obvious method of gaining brand
In the following essay I will be discussing the idea that “Virtual Marketing is a waste of money”, arguing my point considering its place and value within the digital marketing mix. I will do this by first defining what viral marketing is, and discussing what it is. I will then briefly outline what the digital marketing mix is, and assess each section of the mix against virtual marketing, in order to find out its usefulness and limitations, in terms of being a waste of money. I will then proceed to discuss my findings, before finally concluding the argument.
Viral marketing can be defined as “A mechanism that facilitates and encourages people to pass along a marketing message voluntarily”. Viral marketing campaigns tend to seek and identify highly socially networked individuals, who are capable and willing to pass a message along, and in this sense, it is very similar to word of mouth. The term viral marketing was created by Professor Jeffery Rayport (1995), who suggested there were 6 rules which were needed for efficient virtual marketing, and these are still relevant today. In short, these are, stealth is the essence of market entry, what is up front is free - payment is later. let the behaviour of the target community carry the message. look like a host, not a message. Exploit the strength of weak ties. Invest to reach the tipping point.
The concept that stealth is the essence of market entry is important because successful viral marketing campaigns tend to use less obvious ways of bringing their brands attention to the customers’ attention, through methods such as unusual placement or contexts. (Churchill) A good example of this can be seen in the work of Comparethemarket.com, an insurance comparison website, who blended into the congested market, until 2009, when they managed to stand out by using a less obvious method of gaining brand