There is debate on the origination and the popularization of the specific term viral marketing, though some of the earliest uses of the current term are attributed to the Harvard Business School graduate Tim Draper and faculty member Jeffrey Rayport. The term was later popularized by Rayport in the 1996 Fast Company article "The Virus of Marketing", and Tim Draper and Steve Jurvetson of the venture capital firm Draper Fisher Jurvetson in 1997 to describe Hotmail's practice of appending advertising to outgoing mail from their users. An earlier attestation of the term is found in PC User magazine in 1989, but with a somewhat differing meaning.
As digital marketing continues to grow and develop, brands take great advantage of using technology and the Internet as a successful way to communicate with its clients and allows them to increase the reach of who they can interact with and how they go about doing so,. There are however disadvantages that are not commonly looked into due to how much a business relies on it. It is important for marketers to take into consideration both advantages and disadvantages of digital marketing when considering their marketing strategy and business goals.
"Redeal is a powerful tool that works really well for our business. With a few simple commands we can launch new offers and deals for our customers to share with their friends. A simple and easy-to-use interface for creating referral offers, useful statistics for following up and a great customer success team that are always helpful when we need them. We are very happy with Redeal and I can really recommend working with them!"
Another key to viral marketing is understanding triggers, which means associating your company with something that, when your customers see or experience, it triggers a thought of your company. It can be something as simple as a day of the week. Take Rebecca Black for example - her video for her song "Friday" has accomplished viral marketing because people search for it more often on Fridays than any other day of the week.
Gives away valuable products or services. “Free” is the most powerful word in a marketer’s vocabulary. Most viral marketing programs give away valuable products or services to attract attention. Free email services, free information, free “cool” buttons, free software programs that perform powerful functions but not as much as you get in the “pro” version. “Cheap” or “inexpensive” may generate a wave of interest, but “free” will usually do it much faster.
In this case, Uber is offering a set monetary reward for every rider or driver referred, as well as the opportunity to earn awards for referring more people. Uber can’t get away with simply thanking its participants. It needs a structured program for tracking when referrals occur, whether or not they’re successful (according to the program’s terms and conditions), and issuing the promised rewards.
For example, Dropbox started a referral program and offered extra storage space as their incentive. They took a product that people want and need and increased users quickly by offering them a little extra space, for both parties (the referrer and referral). Since customers had nothing to lose, sharing ensued. After their program was implemented they saw a huge jump in membership sign ups with an increase of about 60%.
We have a saying that “good data” is better than “big data.” Bid data is a term being thrown around a lot these days because brands and agencies alike now have the technology to collect more data and intelligence than ever before. But what does that mean for growing a business. Data is worthless without the data scientists analyzing it and creating actionable insights. We help our client partners sift through the data to gleam what matters most and what will aid them in attaining their goals.
Today, one of the biggest trends driving the digital marketing world is responsive design. When a company’s content doesn’t perform well on a given device or browser system, the business behind it loses traffic and suffers decreased conversions as a result. Fortunately, video content is fit for consumption on all devices, ranging from computers to mobile phones. This expands video’s reach and makes it more user-friendly and consumer-focused.
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?)
Your customers, prospects, and partners are the lifeblood of of your business. You need to build your marketing strategy around them. Step 1 of marketing is understanding what your customers want, which can be challenging when you’re dealing with such a diverse audience. This chapter will walk you through (1) the process of building personal connections at scale and (2) crafting customer value propositions that funnel back to ROI for your company.
An aesthetically pleasing and informational website is an excellent anchor that can easily connect to other platforms like social networking pages and app downloads. It's also relatively simple to set up a blog within the website that uses well-written content with “keywords” an Internet user is likely to use when searching for a topic. For example, a company that wants to market its new sugar-free energy drink could create a blog that publishes one article per week that uses terms like “energy drink,” “sugar-free,” and “low-calorie” to attract users to the product website.
So, what’s the right approach? If your customers transact only a few times during their lifecycle, you need to reward them with something of immediate value. Providing access to yet-to-be-released products can work, but cash and gift cards are virtually foolproof. In fact, a Nielsen Harris Poll found that 77% of Americans prefer to be rewarded for referrals with money.
Designed to create a huge amount of traffic at all times, these sites focus on building an audience of millions. These websites promote products to their massive audience through the use of banners and contextual affiliate links. This method offers superior exposure and improves conversion rates, resulting in a top-notch revenue for both the seller and the affiliate.
My favorite example of this right now is Pepsi’s #FutbolNow campaign. They have installed video games into the front of their machines. The game is a soccer challenge that tracks your real movements and judges how well you can juggle a soccer ball. You are rewarded with a free Pepsi if you reach a certain score. What’s the cost of a few cans of Pepsi next to drawing constant attention to your machine?
Spam is the biggest threat to organic search engines, whose goal is to provide quality search results for keywords or phrases entered by their users. Google's PageRank algorithm update ("BigDaddy") in February 2006—the final stage of Google's major update ("Jagger") that began in mid-summer 2005—specifically targeted spamdexing with great success. This update thus enabled Google to remove a large amount of mostly computer-generated duplicate content from its index.
You may use both cash or non-cash incentives for referral marketing example, but a Chicago University study found that non-monetary incentives were more effective than cash benefits by 24%. It is also better to not confine referral to customers or employees alone, referral marketing websites can also be used to new customers and lure them into referral marketing programs.