Viral Marketing and Social Networks

PETRESCU THE BUSINESS Viral Marketing and Social Digital and Social Media Marketing EXPERT PRESS and Advertising Collection DIGITAL LIBRARIES Networks Victoria L. Crittenden, Editor EBOOKS FOR Maria Petrescu BUSINESS STUDENTS Viral marketing is the key to marketing success Curriculum-oriented, born- in the 21st century, and advertising is one of digital books for advanced business students, written the most important tools in the viral marketing by academic thought toolkit. This book offers an in-depth look at viral leaders who translate real- marketing that includes a short overview of its Viral world business experience history and evolution. into course readings and The author provides a viral marketing reference materials for Marketing students expecting to tackle toolkit—exploring the use of each tool in social management and leadership media, as well as differences between connected challenges during their terms such as marketing buzz. Viral advertising, AND SOCIAL NETWORKS VIRAL MARKETING and Social professional careers. as a significant tool and source of viral mes- POLICIES BUILT sage, is discussed in detail with examples of BY LIBRARIANS various companies’ viral campaigns. The focus Networks • Unlimited simultaneous is on how and where businesses can post mes- usage sages with viral objectives and which consumer • Unrestricted downloading segment is the center of the initial targeting and printing • Perpetual access for a initiative. one-time fee This book is for anyone—students and profes- • No platform or sors in business and communication schools, as maintenance fees well as marketing practitioners. • Free MARC records • No license to execute Dr. Maria Petrescu is a marketing researcher The Digital Libraries are a and Assistant Professor of Marketing at Nova comprehensive, cost-effective Southeastern University in Florida. She has an way to deliver practical international background in marketing and treatments of important communication and, in addition to conference Maria Petrescu business issues to every student and faculty member. presentations, is the author of several publica- tions in journals such as Journal of Product and Brand Management, Journal of Internet Commerce, International Journal of Business Information Sys- For further information, a tems, and Journal of Promotion Management. free trial, or to order, contact: [email protected] Digital and Social Media Marketing www.businessexpertpress.com/librarians and Advertising Collection Victoria L. Crittenden, Editor ISBN: 978-1-60649-812-5 www.businessexpertpress.com www.businessexpertpress.com Viral Marketing and Social Networks Viral Marketing and Social Networks Maria Petrescu Viral Marketing and Social Networks Copyright © Business Expert Press, LLC, 2014. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means—electronic, mechanical, photocopy, recording, or any other except for brief quotations, not to exceed 400 words, without the prior permission of the publisher. First published in 2014 by Business Expert Press, LLC 222 East 46th Street, New York, NY 10017 www.businessexpertpress.com ISBN-13: 978-1-60649-812-5 (paperback) ISBN-13: 978-1-60649-813-2 (e-book) Business Expert Press Digital and Social Media Marketing and Advertising Collection Collection ISSN: 2333-8822 (print) Collection ISSN: 2333-8830 (electronic) Cover and interior design by Exeter Premedia Services Private Ltd., Chennai, India First edition: 2014 10 9 8 7 6 5 4 3 2 1 Printed in the United States of America. Abstract Viral marketing is the key to marketing success in the 21st century, and advertising is one of the most important tools in the viral marketing toolkit. This book offers an in-depth look at viral marketing, begin- ning with a short overview of the history and evolution of the viral marketing term. As well as, differences between connected terms, such as marketing buzz, are explored. The book provides a viral marketing toolkit and explores the use of each tool in social media. Viral advertising, as a significant tool and source of viral message, is discussed in detail and examples of various companies’ viral campaigns are described. The discussion also focuses on how and where businesses can post messages with viral objectives and which consumer segment is the focus of the initial targeting initiative. How to contend with negative viral campaigns is another topic of interest debated in the text. This book is intended for a broad audience, including students, and professors in business and communication schools as well as marketing practitioners. The purpose of the book is to clarify the viral marketing term and discuss the key points related to the successful creation and management of a viral marketing campaign. Keywords advertising appeals, buzz marketing, market mavens, message seeding, social media, social network, user generated content, viral advertising, viral marketing, word-of-mouth, word-of-mouse Contents Preface ��ix Acknowledgments ��xiii Chapter 1 Viral Marketing .................................................................1 Chapter 2 The Social Network ...........................................................9 Chapter 3 Viral Marketing Media ....................................................19 Chapter 4 Viral Marketing Characteristics and Tools ........................39 Chapter 5 Viral Advertising ..............................................................51 Chapter 6 Hybrid Marketing ...........................................................63 Chapter 7 Releasing the Virus ..........................................................71 Chapter 8 Results and Evaluation .....................................................79 Chapter 9 Negative Viral Campaigns ...............................................91 Chapter 10 Conclusions ...................................................................107 References ��115 Index ��127 Preface In an article with the title “The death of advertising,” Rust and Oliver (1994) predicted that by 2010, new media would represent the dominant paradigm in marketing. They noted that the Internet would allow for an instant, direct, and interactive relationship between producers and consumers, while advertising would make the transition from involuntary to voluntary. In the new media, consumers are in control and make the choice about media selection and information tools and platforms to be used for commercial information (Keller 2009). Although traditional marketing and advertising are still very much alive, research and statistics show that traditional media such as TV, radio, and print are losing ground in front of the new technologies, websites, social media, and mobile media. Viral marketing has become one of the most significant marketing trends of the recent years, with big brands and small companies taking advantage of the viral potential of the Internet (Ferguson 2008). Technology and other factors have significantly evolved and posi- tively affect the way consumers use communications, favoring rapid and efficient information exchange and interactivity (Godin 2000; Johnson et al. 2006). The wide use of the Internet has helped managers realize the potential of a new technology able to complement the traditional word-of-mouth communication, transforming it into an online viral way of communication with and among consumers (Datta et al. 2005). The Internet allows significantly more interaction, targeted communication, increased reach, and better results evaluation, all at a low cost (Kozinets et al. 2010). Researchers and practitioners have noted that consumers seem increas- ingly comfortable with online viral advertising campaigns that encourage individuals to pass along a marketing message to others by Internet or e-mail. World-renowned companies, such as Nike, Budweiser, Ford, GMC, Levi’s, and De Beers have successfully used viral advertising in social media, YouTube, Facebook, and blogs. Classic viral video advertisements were x PReface initially very good TV commercials, like Honda’s “Cog” or Budweiser’s “Whassup” campaign, followed by online only highly successful initia- tives, such as the quintessential campaign “Subservient Chicken” video for Burger King’s chicken sandwich, which got hundreds of millions of visits (Wasserman 2009). We also have the model example of Hotmail and viral marketing. The company successfully promoted their free e-mail service by including a message in each sent e-mail from Hotmail, not- ing that it is a free service available to anyone. Consumers can remem- ber the Mentos-Coke “explosion” videos that generated millions of views, at-home experiments, and significant buzz on the topic. Research has shown that, from definitive marketing platforms to Inter- net and new media, consumers value the noncommercial, nonimposed, personal sources of marketing information, peer-to-peer communication much better than the paid communications (Gilly et al. 1998; Kirby and Marsden 2006). Statistics concerning Internet and social media usage by consumers paint a great picture for online marketing. In 2012, nearly one-third of

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