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Bob Gerstley was among the first to write about algorithms designed to identify people with high "social networking potential." Gerstley employed SNP algorithms in quantitative marketing research. In 2004, the concept of the alpha user was coined to indicate that it had now become possible to identify the focal members of any viral campaign, the "hubs" who were most influential. Alpha users could be targeted for advertising purposes most accurately in mobile phone networks, due to their personal nature.
Disney initially stated they wouldn’t exceed one million in donations, but ended up donating two million after the campaign blew up. #ShareYourEars campaign garnered 420 million social media impressions, and increased Make-A-Wish’s social media reach by 330%. The campaign is a powerful example of using an internet marketing strategy for a good cause. #ShareYourEars raised brand awareness, cultivated a connected online community, and positively affected Disney’s brand image.
This is easy to imagine, because we do the same ourselves. The florist gives us a prettier bouquet for telling our friends about him. The baker delights you with a surprise cupcake the next time you drop by, because you convinced your brother to bake his wedding cake there. I don’t have actually have to explain to you why this is the way it is. It’s very natural human behavior.
Firstly, we covered off a little bit about what viral marketing is – other than one of a long line of buzzphrases that we’re so fond of in this industry of ours. Then we shared a few of my favourite examples of viral content, and finally, we left them with a playbook of sorts that aims to offer some guidance on how to go about creating earth-shattering virals!
Why should anyone try out the laborious route to referral marketing? It is much cheaper than conventional marketing and gives a better return on investment (ROI). It has been found that companies who deploy referral marketing definition properly have considerably cut down on traditional advertising on mass media. Customers feel important as they are rewarded and share the rewards with their friends who also benefit from getting a good product.
How much of your marketing strategy should be done online and which internet marketing elements you use depends on the nature of your business, your budget, your time, and your goals. Many small business owners do it all themselves in the beginning, but as their businesses grow, they begin to pay for services or outsource work to a virtual assistant that can help them with online marketing.
As a note, referral marketing and affiliate marketing are similar in execution, but slightly different in concept. In the case of referral marketing, you’re asking existing customers to reach out to their established networks. Affiliates, on the other hand, operate solely for the financial benefit of sending you sales. One or both may be appropriate for your company.
In November 1994, CDNow launched its BuyWeb program. CDNow had the idea that music-oriented websites could review or list albums on their pages that their visitors might be interested in purchasing. These websites could also offer a link that would take visitors directly to CDNow to purchase the albums. The idea for remote purchasing originally arose from conversations with music label Geffen Records in the fall of 1994. The management at Geffen wanted to sell its artists' CD's directly from its website but did not want to implement this capability itself. Geffen asked CDNow if it could design a program where CDNow would handle the order fulfillment. Geffen realized that CDNow could link directly from the artist on its website to Geffen's website, bypassing the CDNow home page and going directly to an artist's music page.
In the following sections, we’ll cover the types of videos you should create for each stage in the image above. To start, plan to create at least two videos for each. Don’t forget to include call-to-actions to help lead your audience through their purchase journey and into the role of "promoter." Over time, you can improve based on conversion rates and the content gaps you discover.
Viral marketing is often used in conjunction with other methods of marketing, such as in the case of the Blair Witch Project. The viral aspect of the campaign generated buzz about the story long before the release of commercials, trailers, posters, and other forms of traditional marketing. This caused many people to already talk about the movie before it was officially announced to the public.
Regular retailers selling a specific product rarely have the time and/or energy to build their own referral solutions. A customized in-house referral program is likely to be far down the chain of priorities. Before you even think about building your own referral program (which requires technical expertise), you need to figure out how to get your online payments processing in order, your inventory in order, etc. (See: When is Referral Marketing NOT for you?)
On whether customer referral programs are worth the cost, the study says that it records "a positive value differential, both in the short term and long term, between customers acquired through a referral program and other customers. Importantly, this value differential is larger than the referral fee. Hence, referral programs can indeed pay off."