Advantages and Disadvantages of Using Viral Marketing Strategy - Research Paper Example

?ADVANTAGES AND DISADVANTAGES OF USING VIRAL MARKETING STRATEGY AND ENTERPRISE 2.0 TOOL Advantages and Disadvantages of using Viral Marketing Strategy and Enterprise 2.0 Tool Author Author Affiliation Date Web 2.0 Web 2.0 is an emerging technology, which is considered as a different type of enterprise. In other words, Web 2.0 is used to define a second generation of the WWW (World Wide Web) which is based on the capability for community to share resources and information online. However web 2.0 mostly refers to the conversion from simple web-pages (based on HTML) to a more vibrant Web that is more structured and based on serving Web applications to consumers. Moreover there are other enhanced functionalities of Web 2.0 that are comprised of open interaction with a prominence on Web-based community of users. Hence this aspect facilitates the people through more open sharing of information. We can classify this marketing term when we make use of it in Blogs, wikis, and Web services are the entirely seen as part of Web 2.0 (Webopedia, 2011). Web 2.0 Tools and Technologies When we talk about web 2.0 technological aspects, we see a lot of Web 2.0 tools and technologies available in the market. In this scenario various online tools and platforms are available that help us a lot in defining how citizens can share their point of views, ideas, opinions, thoughts, data and information and knowledge. In this scenario, we have various examples of Web 2.0 tools such as weblogs, RSS, video-casting, collective bookmarking, podcasts; multimedia sharing sites and social networking. These tools are helpful for the organizations for attracting more and more people and services. But the most important aspect is that majority of Web 2.0 tools are free of cost and we can use them online. There are numerous Web 2.0 tools such as Blogger, Digg, Word press, Metacafe, Furl, Twitter and YouTube (Scott, 2011). Podcasting If someone wants to play video games, he/she can easily explore a podcast submission Web-site such as www.Podcast.net. By using this site a user might download an auditory review of a competition (game) to use it on their system (Scott, 2011). Blogs Blogs are basically sequential, online diary. We can comment or put forward any suggestion through Blogger or else Word press blog (Scott, 2011). RSS RSS is normally abbreviated as Really Simple Syndication. We can think RSS as a technique for distribution of frequently changing Web contents. However various blogs along with Internet publishers collect their content as an RSS (Really Simple Syndication) feed to permit people to subscribe it without any difficulty (Scott, 2011) (Scott, 2011). Social Bookmarking The aspect of social bookmarking facilitates people to visualize and comment on the blog post. In this way a user can carry out this task by distributing it to some blog post to a social bookmarking site. In this scenario there is a well known example that is www. Del.icio.us. Moreover it is a normal viewpoint that social bookmarking sites are Web pages that are helpful in maintaining common lists of user- formed Internet bookmarks for displaying comment related aspects (Scott, 2011). Social Networking Social networking is a famous term that we hear every day in our normal life. Individuals who visit bookmark web-site for these ‘game assessment’ tags are probably used for our bookmark. Thus large number of individuals can easily explore our bookmark as well as make a comment on it of their choice. Consequently we will think ourselves to be a part of a group of persons who have a common interest in video games although we have example of an important social networking site like Digg (Scott, 2011). Viral Marketing Definition Viral marketing is a term that is commonly used to discuss marketing strategy factors. It is also referred as a marketing methodology that allows and support people to pass along a market related message (MarketingTerms, 2011). The idea of viral marketing is a little bit different as it spreads a thought while its distribution actually helps in market our business or cause in some problem (TypePad, 2011). In this way we can say that the aspect of viral marketing consists of an enhanced pass-along rate from person to person. However if we analyze a huge fraction of recipients forward somewhat towards a huge figure of associates, the overall development snowballs very rapidly. And in contrast if the pass-along ratio gets low as well, the overall development rapidly fizzles. On the other hand, comparatively a small number of marketing viruses accomplish success factor on a level that is comparable with Hotmail, generally this is quoted as a first example of viral marketing (MarketingTerms, 2011). How to Use Viral Marketing As we know that viral marketing is an emerging marketing term that might be ensure and implement through various ways. However we want to rise, it suits most excellent to pick on a specific strategy along with proper management. In this way we can achieve the best approach for getting the results we are looking for. On the other hand if we are using article marketing approach then we might turn a quantity of of our articles into an EBook or report (Colinklinkert, 2008). In addition we have to focus on the classified ads or the marketing mechanism of our product, but if we want to make add the value to the reader, this totally depends on them, what aspects they want for this purpose. This approach is considered important for adding a few products in the niche. However, we can add them as our affiliated link, but think about cloaking them to formulate them less obvious (Colinklinkert, 2008). When we are prepared for distribution, this could be easily achieved through numerous ways. However it depends mostly on quality level, if the publication we have put simultaneously consists of a superior quality; we might put up for sale it. But if we would like to construct it viral, we require including reprint rights. Hence we could get sales from the product and also having it spread around (Colinklinkert, 2008). Now, the most important step is that if we actually want it to go viral, then we might allocate it free of cost for others as well as give confidence to others to do the same thing. By adopting this strategy we could easily advertise our giveaway through online applications like electronic mails and forums. In the last it is necessary to define that viral marketing is cost productive, it is less expensive than traditional advertising (Colinklinkert, 2008). Implementation of ENTERPRISE 2.0 Description Seeing that web 2.0 has emerged as an advanced wave of computing tools from blogs to social networking web-sites like Twitter and Face book. Although these applications has resulted in rapid development in last 5 years, but now it has proved itself as a mainstream status and generally this approach is being adopted by mangers of corporations, CIO’s and senior executives in huge, pragmatic business oriented firms as a way to reach in innovative market place round the globe. Hence it facilitates govt officials and various departments by growing revenues as well as profits. Consequently it is helpful for employees for their output and efficiency (Yourdon, 2011). At many places it can be observed that enterprise 2.0 is used in numerous perspectives but Enterprise 2.0 is a term that is used for defining business oriented implementation along with proper accomplishment of numerous technological aspects. However cultural practices that were initially attentive towards informal networking actions between customers, scholars, and young people, but now majority of corporations believes that these technological aspects related to Enterprise 2.0 are not as much of significant as compared to business strategies that require reexamined plus rationalized. In today’s global economy collapse, it is valuable for organization to adopt such standards that can facilitate them in reducing costs, help the Enterprise deliver products and services more speedily, for exploring market places and clients, finding advance products and services for patrons, versatile ways to locate ways for increase demand of collaboration among human resources, clients, suppliers, and other people. Analysts and observers argue that Enterprise 2.0 is a strategic subject: that needs senior business executives that include the CIO and senior IT administrators to change the basic assumptions about their Business strategies, their trade factors, their dealers, their human resource, their financial systems models and the day-to-day procedures through which an effective business can easily be carry out (Yourdon, 2011). How to Implement Enterprise 2.0 into corporations? From the above discussion we can now understand that Enterprise 2.0 will be implemented in well established organizations. On the other hand its implementation into organizations is considered difficult since there could be some resentment that is not in favor of this approach. However we know well about this fact that enterprise 2.0 changes the working behavior of human resource, it also revolutionizes the role of middle level administration and also the top level management. All of the modifications defined might escort to resentments in an organization (Tobias Brenner , 2010). In addition it is much vital to know about the whole approach, someone who is not well familiar might not initiate Enterprise 2.0 for the reason that a challenger has started it successfully. We must define our objectives as soon as possible. While the 2nd significant factor is to adopt Enterprise 2.0 in our business strategy, by adopting it to our trade culture, our community culture, our commerce, our human resource, your executives. The last important factor is the role of management and leadership (Tobias Brenner , 2010). Scope of Viral Marketing Viral Marketing is as well recognized as viral publicity is an advertising method utilized to arouse the community attentiveness about a particular business product or service. Additionally, businesses utilize numerous types of media to extend to the community exclusive of really sponsoring the business product or specific service by depending on in additional types of enthusiastic ways. These ways can acquire an individual passionate as well as be appreciative or pleased to essentially send it to other individuals. They can send it to their friends and business members outside the firm, by means of the business product or corporation ad along with it. IN addition, viral marketing has turned out to be a well-liked practice of publicity as well as promotion since this practice is comparatively cost-effective. In order to keep away being labeled like spam e-mail, viral marketing relies on the excitement of an individual to convey the business services valuable product (rahuljain, 2011). Advantages and disadvantages of viral marketing As discussed above the viral marketing is a type of word of mouth marketing which is adopted and implemented through online means. Thus, viral marketing is accomplished by business firms which are concerned in electronic commerce as well as a lot of other organizations that have developed into successful organizations in business marketplace. Hotmail.com is a most excellent example that can be defined with this. There are several advantages and disadvantages of viral marketing, which are outline below: (Hajara, 2011; Rajeev, 2009; Morton, 2009; OutsourceStrategies, 2007) It treats huge volumes of spectators through web based technologies. Viral marketing practices use internet as the communication media for its online resources. It employs available interface as well as communication between associates and with other links to share the marketing ideas and products. This technique is considered to be a money-making technique as contrasted with other marketing methodologies. It is considered the quickest method for capturing a pool of customers worldwide. Viral Marketing offers high credibility services to the customers Viral Marketing offers high efficiency of the products and services produced Viral Marketing technique offers a prospect to nonstop marketing changes Viral Marketing utilizes the web based technology of social networking to promote business products which is considered a brilliant idea to attract diverse people. It is the cost-free technique for supporting a business operation. In Viral marketing resources of the business and time is easily managed as compared to other marketing methods. In this type of marketing we can proficiently focus on the intended people Viral marketing computerizes the tasks of marketing practices It offers a enhanced attention of responsibility regarding business Viral marketing method is fairly simple to incorporate by means of additional marketing methodologies available in the marketplace Viral marketing augments network traffic to our website thus lots of people view our business products and services. Disadvantages of Viral Marketing Viral marketing adopts techniques like e-mails along with expressing ideas on forums. While the viral marketing in practiced in a large environment, the recipient gets irritated to accept bulks of e-mails. With this marketing method unnecessary advertising is probable at the similar pace of optimistic advertising. One of the imperative negative factors is the time because people who propagate the message through email or through other means as citizens are more rigorous about their individual work instead of doing advertising for some business organizations. It is able to be simply impersonated by challengers because someone on the Web has the power to initiate advertising operations with no trouble. Permanent attempt in viral marketing is able to make the business product to go away from the intended people. Viral marketing includes organizations without any reputation and name. If marketing message is not conveyed from one person to the other then Viral marketing method fails to accomplish the goal Viral marketing can give rise to some of the imperative spamming problems It discourages the people from presenting only economic-based products Only specific kind of web content capture viral marketing customers Viral marketing only brings network traffic but it doesn’t guarantee sales of products Viral marketing doesn’t provide constant web traffic to our site rather it provides momentary network traffic As the traffic consumption increases, it can definitely spoil our website hosting bandwidth of the network link References Colinklinkert. (2008, August 10). Why Do We Use Viral Marketing? Retrieved May 01, 2011, from http://www.colinklinkert.com/why-do-we-use-viral-marketing/ Hajara. (2011). Advantages and Disadvantages of Viral Marketing. Retrieved April 29, 2011, from http://www.tutebox.com/business/advantages-and-disadvantages-of-viral-marketing/ MarketingTerms. (2011). Viral Marketing. Retrieved May 02, 2011, from http://www.marketingterms.com/dictionary/viral_marketing/ Morton, L. P. (2009, July 17). 5 Disadvantages Of Viral Marketing 1-2. Retrieved May 01, 2011, from http://www.strategicmarketsegmentation.com/5-disadvantages-of-viral-marketing-1-2/ OutsourceStrategies. (2007, May 15). Advantages and Disadvantages of Viral Marketing. Retrieved May 01, 2011, from http://www.outsourcestrategies.com/blog/2007/05/advantages-and-disadvantages-of-viral-marketing.html rahuljain. (2011, April 26). The Scope of increasing Viral Marketing. Retrieved May 02, 2011, from LargeArticle.com: http://largearticle.com/78/the-scope-of-increasing-viral-marketing/ Rajeev, R. (2009, March 26). Advantages of Viral Marketing. Retrieved May 02, 2011, from Articlesbase.com: http://www.articlesbase.com/internet-marketing-articles/advantages-of-viral-marketing-835221.html Scott, P. (2011, February 01). Web 2.0 Tools. Retrieved May 01, 2011, from WebReferences.com: http://www.webreference.com/promotion/web20/ Tobias Brenner . (2010, November 03). Implementing Enterprise 2.0 into Established Companies . Retrieved April 29, 2011, from http://milosvujnovic.blogspot.com/2010/11/implementing-enterprise-20-into.html TypePad. (2011). What is viral marketing? Retrieved April 29, 2011, from http://sethgodin.typepad.com/seths_blog/2008/12/what-is-viral-m.html Webopedia. (2011). Web 2.0. Retrieved April 29, 2011, from http://www.webopedia.com/TERM/W/Web_2_point_0.html Yourdon, E. (2011). Managing the Implementation of ENTERPRISE 2.0. Retrieved April 29, 2011, from http://www.technologytransfer.eu/event/1047/Managing_the_Implementation_of_ENTERPRISE_2.0.html Read More