New Report Gives Guidance for Improving Viral Marketing July 04, 2008 Edited by Jonathan Tannenbaum
Viral marketing campaigns may sound like a fast and furious buzz-building solution, but a recent study from New York-based Jupiter Research reports that marketers may want to think twice before spreading such a campaign. As it turns out, these seemingly "effective" marketing campaigns usually fail to achieve their most important objective—that being to ignite a vast word-of-mouth campaign.
The report entitled "Viral Marketing: Leveraging Social Media Sites," notes that 24% of marketers today have pursued viral marketing, implementing a host of tools and tactics—including creating games, widgets and videos. Yet, despite these efforts, many viral marketers fail to meet their benchmarks. Thirty percent proved unable to achieve the attention they expected from consumers, and only 10% succeeded in persuading users to vouch for their products or services.
But all is not lost for those banking on word-of-mouth campaigns. Jupiter Research says companies can make meaningful adjustments, employing social networks to set off a larger response. In particular, the report highlights the usefulness of Facebook, underlining three main reasons for Facebook's special value: the main audience of college-educated members as a critical group of consumers; Facebook's expansion in 2007 and reputation for brand leverage; and the network’s focus as a communications-based platform.
Social networks like Facebook also aid viral marketers by providing a context for incorporating free tools. Thirty-five percent of viral marketers have created a fan page on Facebook, carving out an area suited for videos, widgets and other viral tools. A well-maintained fan page can also facilitate dialogue between influential consumers and the brand.
Additionally, the report urges viral marketers to carry out targeted media buys. So far, few viral marketers have placed a display ad on Facebook or My Space; however, these resources can be extremely helpful. For example, Facebook's SocialAds platform allows marketers to promote pages, application, or external microsites through text ads based upon a user’s profile information. Marketers can also place ads that accompany a friend's action with the brand, leveraging the power of a friend's recommendation.
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