What is Viral Marketing? According to Wikipedia…
Viral marketing, viral advertising, or marketing buzz are buzzwordsreferring to marketing techniques that use pre-existing social networkingservices and other technologies to try to produce increases in brand awarenessor to achieve other marketing objectives (such as product sales) throughself-replicating viral processes, analogous to the spread of viruses orcomputer viruses (cf. Internet memes and memetics). It can be delivered by wordof mouth or enhanced by the network effects of the Internet and mobilenetworks. Viral advertising is personal and, while coming from an identifiedsponsor, it does not mean businesses pay for its distribution. Most of thewell-known viral ads circulating online are ads paid by a sponsor company,launched either on their own platform (company webpage or social media profile)or on social media websites such as YouTube. Consumers receive the page linkfrom a social media network or copy the entire ad from a website and pass italong through e-mail or posting it on a blog, webpage or social media profile.Viral marketing may take the form of video clips, interactive Flash games,advergames, ebooks, brandable software, images, text messages, email messages,or web pages. The most commonly utilized transmission vehicles for viralmessages include: pass-along based, incentive based, trendy based, andundercover based. However, the creative nature of viral marketing enables an\\\\\\”endless amount of potential forms and vehicles the messages can utilizefor transmission\\\\\\”, including mobile devices.
The ultimate goal of marketers interested in creating successful viralmarketing programs is to create viral messages that appeal to individuals withhigh social networking potential (SNP) and that have a high probability ofbeing presented and spread by these individuals and their competitors in theircommunications with others in a short period of time.
The emergence of \\\\\\”viral marketing,\\\\\\” as an approach toadvertisement, has been tied to the popularization of the notion that ideasspread like viruses. The field that developed around this notion, memetics,peaked in popularity in the 1990s. As this then began to influence marketinggurus, it took on a life of its own in that new context.
There is debate on the origination and the popularization of the specificterm viral marketing, though some of the earliest uses of the current term areattributed to the Harvard Business School graduate Tim Draper and facultymember Jeffrey Rayport. The term was later popularized by Rayport in the 1996Fast Company article \\\\\\”The Virus of Marketing,\\\\\\” and Tim Draper andSteve Jurvetson of the venture capital firm Draper Fisher Jurvetson in 1997 todescribe Hotmail\\\\\\’s practice of appending advertising to outgoing mail fromtheir users. An earlier attestation of the term is found in PC User magazinein 1989, but with a somewhat differing meaning.
Among the first to write about viral marketing on the Internet was themedia critic Doug Rushkoff. The assumption is that if such an advertisementreaches a \\\\\\”susceptible\\\\\\” user, that user becomes \\\\\\”infected\\\\\\”(i.e., accepts the idea) and shares the idea with others \\\\\\”infectingthem,\\\\\\” in the viral analogy\\\\\\’s terms. As long as each infected user sharesthe idea with more than one susceptible user on average (i.e., the basicreproductive rate is greater than one—the standard in epidemiology forqualifying something as an epidemic), the number of infected users growsaccording to an exponential curve. Of course, the marketing campaign may besuccessful even if the message spreads more slowly, if this user-to-usersharing is sustained by other forms of marketing communications, such as publicrelations or advertising.
Bob Gerstley was among the first to write about algorithms designed toidentify people with high \\\\\\”social networking potential.\\\\\\” Gerstleyemployed SNP algorithms in quantitative marketing research. In 2004, theconcept of the alpha user was coined to indicate that it had now becomepossible to identify the focal members of any viral campaign, the\\\\\\”hubs\\\\\\” who were most influential. Alpha users could be targeted foradvertising purposes most accurately in mobile phone networks, due to theirpersonal nature.
In early 2013 the first ever Viral Summit was held in Las Vegas. Itattempted to identify similar trends in viral marketing methods for variousmedia.
What is Retargeting or Remarketing? According to Wikipedia…
Marketing is about communicating the value of a product, service or brandto customers or consumers for the purpose of promoting or selling that product,service, or brand. The oldest – and perhaps simplest and most natural form ofmarketing – is \\\\\\’word of mouth\\\\\\’ (WOM) marketing, in which consumers convey theirexperiences of a product, service or brand in their day-to-day communicationswith others. These communications can of course be either positive or negative.In recent times, the internet has provided a platform for mass, electronic WOMmarketing (e-WOM), with consumers actively engaged in rating and commenting ongoods and services.
In for-profit enterprise the main purpose of marketing is to increaseproduct sales and therefore the profits of the company. In the case ofnonprofit marketing, the aim is to increase the take-up of the organisation\\\\\\’sservices by its consumers or clients. Governments often employ social marketingto communicate messages with a social purpose, such as a public health orsafety message, to citizens. In for-profit enterprise marketing often acts as asupport for the sales team by propagating the message and information to thedesired target audience.
Marketing techniques include choosing target markets through marketanalysis and market segmentation, as well as understanding consumer behaviorand advertising a product\\\\\\’s value to the customer.
From a societal point of view, marketing provides the link between asociety\\\\\\’s material requirements and its economic patterns of response.
Marketing satisfies these needs and wants through the development ofexchange processes and the building of long-term relationships.
Marketing can be considered a marriage of art and applied science (such asbehavioural sciences) and makes use of information technology.